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Sunday, 14 August 2016

MIDEAST STOCKS-Petrochemical shares support Saudi, Dubai's gain limited | Reuters

MIDEAST STOCKS-Petrochemical shares support Saudi, Dubai's gain limited | Reuters:

"A bounce in oil prices at the end of last week helped lift stock markets in the Gulf on Sunday but second-quarter earnings from some of Dubai's second-tier companies limited gains on that bourse.

Riyadh's index added 1.0 percent as all 14 listed petrochemical shares advanced after Brent crude futures settled 2.0 percent higher at $46.97 per barrel on Friday after touching $47.05, their highest level in more than three weeks.

Bellwether Saudi Basic Industries gained 1.5 percent in the first 10 minutes of trade.

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