MIDEAST STOCKS-Gulf markets mixed despite strong oil; Egypt extends rebound | News by Country | Reuters:
"Gulf stock markets were narrowly mixed on Thursday after some companies reported mediocre first-quarter earnings, offsetting the positive impact of higher oil prices. Egypt rebounded further on hopes that new tax rules would be amended.
Oil's recovery this month, which looks likely to be the strongest since a sell-off that began last June, has boosted the sentiment of Middle East fund managers who are on balance once again moderately bullish on Gulf equities, according to a monthly Reuters survey published on Thursday.
The main Saudi index edged up 0.2 percent to 9,834 points and petrochemicals giant Saudi Basic Industries (SABIC), which is poised to benefit from oil's recovery, was the main support, climbing 1.8 percent."
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