Arab stocks post weekly gains on rising oil prices

Arab stock markets kept their upward thrust this week, buoyed by rising oil prices and the flow of fresh liquidity to regional markets as investors appeared upbeat over indicators that the world recession could be bottoming out, financial analysts said Friday.

"I believe rising oil prices represent a positive indicator that sends a message to markets that the situation of the world economy could be improving," Wajdi Makhamreh, Chief Operating Officer at the Amman-based Sanabel International Holding, told the German Press Agency dpa.

"Higher oil prices mean more liquidity coming to the regional bourses particularly in the Gulf region, but it is insufficient so far to produce the required momentum," he said.