MIDEAST STOCKS-Markets sluggish despite firmer oil, global equities | Reuters

MIDEAST STOCKS-Markets sluggish despite firmer oil, global equities | Reuters:

"Higher oil prices and stronger
global equities failed to lift most stock markets in the Middle
East on Thursday and trading volumes were modest, showing many
investors remain wary of the longer-term outlook for stocks.

Brent oil rose nearly 2 percent to more than $49 a
barrel while Asian and European markets climbed following a
surge on Wall Street.

But this did not stimulate trade in the Gulf, where Saudi
Arabia's stock index dropped 0.8 percent. Al Rajhi Bank
sank 3.7 percent while miner Ma'aden, hit
this week by the global sell-off in commodities-related shares,
lost a further 3.1 percent to a nine-month closing low. "



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