Tuesday 9 June 2015

MIDEAST STOCKS-Most Gulf mkts rise as oil rebounds but Saudi dips before MSCI call | Reuters

MIDEAST STOCKS-Most Gulf mkts rise as oil rebounds but Saudi dips before MSCI call | Reuters:



"Most Gulf stock markets rose on Tuesday after oil prices rebounded, but Saudi Arabia fell ahead of a key announcement from index compiler MSCI.



Brent crude gained more than 2 percent and traded above $64 per barrel as higher seasonal demand in developed economies and expectations of falling U.S. shale production reduced the impact of a large global supply overhang.



But Saudi Arabia's main index fell 0.4 percent to 9,491 points as most local stocks declined. It closed well off its intraday low of 9,426 points though, as buying late in the session lifted the benchmark towards its 200-day average of 9,493 points."



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