Monday 12 October 2015

MIDEAST STOCKS-Oil-related shares rise in Qatar, most of Gulf quiet | Reuters

MIDEAST STOCKS-Oil-related shares rise in Qatar, most of Gulf quiet | Reuters:

"Oil-related shares rose in Qatar early on Monday but most stocks in the Gulf were quiet with few new incentives to trade.

Brent oil edged up a further 0.7 percent to $53.0 a barrel in early Asian trade on Monday, extending a strong rebound since last week. Gulf oil officials sounded bullish at a conference in Kuwait on Sunday evening, and Qatar's energy minister declared the oil price had bottomed out.

This helped Qatari drilling rig provider Gulf International Services climb 2.3 percent and Qatar Fuel Co gain 1.9 percent on Monday. Most of the Qatar market moved little, however, with the index up 0.3 percent."



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