MIDEAST STOCKS-Stronger oil and Yemen hopes boost Gulf; Egypt stabilises | Reuters:
"Rebounding oil prices and hopes for a ceasefire in Yemen buoyed Gulf stock markets on Thursday, with several Saudi Arabian banks climbing after second-quarter earnings while Egypt stabilised after a plunging in recent weeks.
Sentiment throughout the gulf was improved by Brent crude's partial recovery from several days of sharp falls, rising rising 3 percent to nearly $59 a barrel by the time Saudi Arabia's bourse closed.
The Saudi stock index closed 2.5 percent higher as top petrochemical producer Saudi Basic Industries raced to its 10 percent daily limit in heavy trading and closed at its highest level in nine days. Miner Ma'aden also gained 10 percent."
'via Blog this'
No comments:
Post a Comment