MIDEAST STOCKS-Gulf stocks gain and volumes grow as oil rises over $33 | Reuters:
"Stocks rose in the Middle East on Thursday after Brent oil climbed above $33 a barrel, and higher trading volumes suggested some investors were returning to the markets.
Valuations have plunged in recent weeks, but many traders and fund managers believe that if Brent is above $30, investor jitters should ease enough for stock markets to stage at least a short-term rally.
Saudi petrochemical stocks made solid gains, with Saudi Basic Industries, the largest such stock by market value, jumping 4.2 percent. The sub-index added 4.2 percent, underpinning a 3.2 percent rise in Riyadh's main index to 5,880 points."
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