MIDEAST STOCKS-Gulf mostly up despite oil, Egypt continues recovery | Reuters:
"Most major Gulf stock markets rose on Thursday as positive corporate news and earnings outweighed a pull-back of oil prices, while Egypt continued its bounce from three-month lows.
Brent crude plunged 6 percent on Wednesday because of a shock jump in U.S. crude inventories and news of record Saudi output. It rebounded about 3 percent to $57.20 a barrel in Asia on Thursday.
But Saudi Arabia's stock market rose across the board with the main index up 1.1 percent. Even petrochemicals, very sensitive to oil prices, posted gains; Saudi Basic Industries Corp (SABIC) climbed 0.8 percent."
'via Blog this'
No comments:
Post a Comment