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Thursday 19 March 2015
MIDEAST STOCKS-Gulf markets rebound as dovish Fed lifts oil | Reuters
MIDEAST STOCKS-Gulf markets rebound as dovish Fed lifts oil | Reuters:
"Gulf stock markets rebounded on Thursday after a dovish statement from the U.S. Federal Reserve lifted oil prices and sparked a rally in global equities, but food maker Savola Group weighed on Saudi Arabia after a profit warning.
Oil prices jumped on Wednesday after the Federal Reserve indicated it would raise U.S. interest rates more slowly than previously thought, overshadowing data showing U.S. crude inventories at a record level. Prices pulled back slightly on Thursday but still traded well off their Wednesday lows.
Saudi Arabia's main stock index edged up 0.4 percent, as petrochemical giant Saudi Basic Industries jumped 2.0 percent after a heavy sell-off in the two previous sessions."
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"Gulf stock markets rebounded on Thursday after a dovish statement from the U.S. Federal Reserve lifted oil prices and sparked a rally in global equities, but food maker Savola Group weighed on Saudi Arabia after a profit warning.
Oil prices jumped on Wednesday after the Federal Reserve indicated it would raise U.S. interest rates more slowly than previously thought, overshadowing data showing U.S. crude inventories at a record level. Prices pulled back slightly on Thursday but still traded well off their Wednesday lows.
Saudi Arabia's main stock index edged up 0.4 percent, as petrochemical giant Saudi Basic Industries jumped 2.0 percent after a heavy sell-off in the two previous sessions."
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UPDATE 1-MIDEAST STOCKS-Gulf markets rebound, following oil | Reuters
UPDATE 1-MIDEAST STOCKS-Gulf markets rebound, following oil | Reuters:
"Gulf stock markets rose in early trade on Thursday after a dovish statement from the U.S. Federal Reserve lifted oil prices and sparked a rally in emerging markets.
Dubai's index rose 1.8 percent after dropping 3.6 percent in a panic sell-off on Wednesday, when U.S. crude futures slid to a fresh six-year low.
Most stocks in the emirate gained and developer Emaar Properties jumped 3.0 percent, dominating trading volumes."
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"Gulf stock markets rose in early trade on Thursday after a dovish statement from the U.S. Federal Reserve lifted oil prices and sparked a rally in emerging markets.
Dubai's index rose 1.8 percent after dropping 3.6 percent in a panic sell-off on Wednesday, when U.S. crude futures slid to a fresh six-year low.
Most stocks in the emirate gained and developer Emaar Properties jumped 3.0 percent, dominating trading volumes."
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