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Tuesday, 6 September 2016

MIDEAST STOCKS-Saudi continues rebound, rest of Gulf mixed | Reuters

MIDEAST STOCKS-Saudi continues rebound, rest of Gulf mixed | Reuters:

"Saudi Arabia's stock market continued rebounding early on Tuesday after a sharp rise on the previous day, while other Gulf stock markets were narrowly mixed in quiet trade.

Riyadh's stock index climbed 0.5 percent to 6,232 points in the first half-hour, adding to a 1.7 percent gain on Monday, when oil prices surged as Saudi Arabia and Russia said they would cooperate to support oil prices.

Petrochemical stocks outperformed on Tuesday morning, with Saudi Basic Industries up 1.2 percent, and miner Ma'aden rose 3.2 percent after it said a subsidiary had started trial production at a new ammonia plant."



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