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Monday, 15 May 2017

MIDEAST STOCKS-Saudi edges up with oil, Gulf mostly sluggish | Reuters

MIDEAST STOCKS-Saudi edges up with oil, Gulf mostly sluggish | Reuters:

"Most stock markets in the Gulf were sluggish in early trade on Monday, although Saudi Arabia edged up in response to a surge in oil prices after the Saudi and Russian oil ministers agreed output cuts should be extended until March 2018.

The Saudi index rose 0.3 percent in the first half-hour, aided by petrochemicals, with Saudi Basic Industries gaining by the same margin.

But PetroRabigh, which had tumbled by its 10 percent daily limit on Sunday after reporting a sharp widening of its quarterly loss, sank a further 6.1 percent."



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