Monday, 13 July 2015

MIDEAST STOCKS-Gulf markets rally modestly on Greece; Egypt falls | Reuters

MIDEAST STOCKS-Gulf markets rally modestly on Greece; Egypt falls | Reuters:



"Gulf bourses rose on Monday in line with a global equities rally due to the Greek bailout agreement, but a drop in oil prices because of a likely Iran nuclear deal limited gains in the region.



Brent crude fell 1.8 percent as Tehran and six world powers were on the brink of finding a nuclear deal that would bring sanctions relief and more oil to the already oversupplied market.



Saudi Arabia's bourse, the most sensitive in the Gulf to oil prices because of its heavyweight petrochemical sector, was the weakest performer on Monday and edged up just 0.2 percent."



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