MIDEAST STOCKS-Gulf markets stabilise after panic sell-off | Reuters:
"Gulf stock markets steadied and some rebounded on Monday after tumbling a day earlier in response to a plunge in oil prices.
Brent crude fell nearly $2 a barrel to a five-year low below $68 in early trade on Monday but then pared some losses and climbed towards $70. That appeared to soothe Gulf investors' nerves and inspire some late buying.
Saudi Arabia's index rose 1.1 percent as most market sectors rebounded, while petrochemicals were almost flat. The bourse closes at 1230 GMT, hours after its Gulf counterparts, and so reacts more to Western market moves."
'via Blog this'
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