MIDEAST STOCKS-Saudi Arabia surges, boosted by stronger oil | Reuters:
"Saudi Arabia's stock market continued its sharp rebound in early trade on Sunday as stronger oil prices lifted shares in the petrochemical sector.
The kingdom's main stock index jumped 4.2 percent in the opening minutes and petrochemicals giant Saudi Basic Industries (SABIC) rose 6.5 percent. The petrochemical sector index added 5.7 percent.
Other sectors were also strong although lagging behind petrochemicals, for whom stronger oil translates into higher margins. National Commercial Bank, Saudi Arabia's largest lender, surged 4.2 percent."
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