MIDEAST STOCKS-Oil's rebound, earnings lift Gulf; SABIC up despite Q4 profit slide | Reuters:
"Gulf stock markets rose on Sunday after companies published mostly positive quarterly earnings and oil prices extended gains. Saudi Arabia's biggest listed company gained despite poor earnings, a fresh sign that the market may have bottomed.
Oil ended last week higher after seven successive weeks of losses, with Brent slightly above $50 a barrel. A report by the International Energy Agency said there were signs that lower prices had begun to curb production in some areas, including North America.
Saudi Arabia's equities benchmark rose 0.9 percent and Saudi Basic Industries (SABIC) climbed 1.1 percent to 79.25 riyals after falling as much as 1.1 percent in the opening minutes."
'via Blog this'
No comments:
Post a Comment