MIDEAST STOCKS-Higher oil boosts Gulf, Egypt stagnates | Reuters:
"Higher oil prices lifted Gulf stock
markets on Monday while Egypt's bourse was sluggish after a
corporate survey
showed growth in business activity there slowed last month.
With Brent oil up 2.2 percent at $49.20 a barrel,
the Saudi stock index climbed 1.2 percent as
petrochemical blue chip Saudi Basic Industries added
1.6 percent.
Property developer Dar Al Arkan continued to rise,
gaining 1.5 percent, after Sunday's news that the government
plans to convert a state-owned housing fund into a bank, the
latest measure to spur housing construction."
'via Blog this'
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