Sunday, 7 June 2015

MIDEAST STOCKS-Gulf markets pull back; Dubai's Amlak rises in catch-up rally | Reuters

MIDEAST STOCKS-Gulf markets pull back; Dubai's Amlak rises in catch-up rally | Reuters:



"Gulf stock markets edged down in early trade on Sunday after oil prices ended the week lower and corporate news flow remained thin ahead of summer holidays.


Oil had staged its first rally in three days on Friday, gaining 2 percent, despite warnings of more oversupply as a result of OPEC's decision to keep pumping crude without restraint. But for the week, Brent fell 3.6 percent.



Another negative factor for Gulf equities was the escalation of fighting in Yemen where the Houthi group and its allies fired a Scud ballistic missile into Saudi Arabia on Saturday."



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