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Monday, 12 December 2016

MIDEAST STOCKS-UAE, Qatar, Egypt gain on oil but Saudi slips as investors focus on budget | Reuters

MIDEAST STOCKS-UAE, Qatar, Egypt gain on oil but Saudi slips as investors focus on budget | Reuters:
"Stock markets in the United Arab Emirates and Qatar jumped on Monday as crude oil prices shot to their highest since mid-2015, but the uptrend in Saudi Arabia lost steam as investors anticipated the state budget.

Brent crude soared as high as $57.89 per barrel on Monday morning in response to the weekend deal between OPEC and non-OPEC producers to cut output.

The index in Dubai, which was closed on Sunday for a public holiday, climbed 2.8 percent to 3,657 points, its highest finish this year, in the heaviest trade since March.

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