gulfnews : Global sentiment likely to boost regional bourses

A better than expected employment report in the US and anticipation Germany, France and rest of the Eurozone would act swiftly and decisively to end their lingering sovereign debt crisis in their own best interests is likely to boost sentiment on the region's stock markets this week, although the upside is going to be limited, say analysts.

The regional markets will also draw comfort from surging global oil prices, which have returned to the $100 per barrel mark, boosting the coffers of the exporting countries.

On Friday, crude oil for January delivery rose 76 cents to $100.96 a barrel on the New York Mercantile Exchange, the highest settlement since November 16. Prices advanced 4.3 per cent last week and are up 10 per cent this year. Brent oil for January settlement rose 95 cents, or 0.9 per cent, to $109.94 a barrel on the London-based ICE Futures Europe exchange.

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