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Wednesday, 31 May 2017

MIDEAST STOCKS-Weak oil weighs, but Dana Gas gains on Kurdistan legal hopes | Reuters

MIDEAST STOCKS-Weak oil weighs, but Dana Gas gains on Kurdistan legal hopes | Reuters:

"Stock markets in the Gulf were mixed early on Wednesday as Brent oil's fall near $51.50 a barrel weighed on sentiment, though Abu Dhabi's Dana Gas jumped on hopes for legal action to recover payments from the Kurdistan Regional Government (KRG). Riyadh's index was up 0.2 percent after an hour, but the largest listed petrochemical maker, Saudi Basic Industries , fell 0.8 percent and most other petrochemicals producers were also weak. Oil shipper National Shipping Co(Bahri) rose 0.8 percent on news it had signed a joint venture agreement with state oil giant Aramco, London-listed Lamprell and South Korea's Hyundai Heavy Industries to build and operate a shipyard on the kingdom's east coast."



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