MIDEAST STOCKS-Gulf markets may lose steam on retreating oil price | Reuters:
"Gulf stock markets may lose steam on Thursday after global oil prices pulled back overnight, with Brent crude again testing the psychologically important $60 a barrel level.
Bourses rose strongly on Wednesday on anticipation that the Saudi Arabian 2015 state budget, expected to be announced on Thursday, possibly during Saudi market trading hours, would keep spending high.
The country's Al-Madina newspaper, quoting unnamed sources, reported earlier this week that the budget would actually contain a marginal rise in spending, with the government using its huge fiscal reserves to cover a deficit."
'via Blog this'
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