Google+ Followers

Monday, 21 September 2015

MIDEAST STOCKS-Gulf markets rise as oil prices jump | Reuters

MIDEAST STOCKS-Gulf markets rise as oil prices jump | Reuters:

"Most Gulf equity markets rose on
Monday as oil prices jumped on reports of a slowdown in U.S.
drilling activity.

Oil rose by more than 2 percent on Monday after data showed
U.S. drilling slowed and a report said $1.5 trillion worth of
planned production was uneconomic at current prices.

Saudi Arabia's stock index rose 1.0 percent and most
sectors were positive. Petrochemicals heavyweight Saudi Basic
Industries added 1.0 percent."



'via Blog this'

MIDEAST STOCKS-Saudi banks rebound after sell-off; Egypt also up | Reuters

MIDEAST STOCKS-Saudi banks rebound after sell-off; Egypt also up | Reuters:

"Rebounding banking stocks lifted Saudi Arabia's market in early trade on Monday. Egypt's bourse was also positive in thin trade before an extended break.

The main Saudi stock index edged up 0.4 percent. Lenders Samba Financial Group, up 1.3 percent, and Al Rajhi Bank which rose 0.9 percent, were the main supports.

Saudi banks had come under pressure in the previous few sessions due to concerns about their exposure to large construction firm Saudi Binladin Group, which was suspended from taking new contracts after a crane accident in Mecca that killed 107 people."



'via Blog this'