Tuesday 13 October 2015

MIDEAST STOCKS-Gulf markets pull back slightly on oil price plunge | Reuters

MIDEAST STOCKS-Gulf markets pull back slightly on oil price plunge | Reuters:

"Gulf stock markets pulled back slightly on Tuesday after Brent crude oil tumbled 5.3 percent to below $50 a barrel overnight, casting doubt on hopes that oil may finally have bottomed out.

Qatar's stock index edged down 0.3 percent as drilling rig provider Gulf International Services, which had jumped as oil rebounded in the past several days, fell 1.3 percent.

Islamic Holding climbed 2.4 percent, however, after an extraordinary general assembly of shareholders approved a 50 percent capital increase via a rights issue."



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