Mideast Stocks Advance After Oil Rebounds Most in Five Months - Bloomberg Business

Mideast Stocks Advance After Oil Rebounds Most in Five Months - Bloomberg Business:

"Stocks across Middle Eastern markets surged after oil prices rebounded and global equities rallied.
The DFM General Index climbed 5.2 percent, the most in more than a year, to close at 2,757.08 as traders exchanged 415 million shares, 63 percent above the 12-month daily average volume. Qatar’s QE Index and Abu Dhabi’s ADX General Index climbed 4.6 percent and 2.7 percent, respectively. Saudi Arabia’s Tadawul All Share Index soared as much as 6.8 percent before paring gains to 3.6 percent at 2:23 p.m. in Riyadh.
Oil advanced the most since August on Friday, boosting the outlook for the countries of the six-nation Gulf Cooperation Council, for which crude remains the biggest source of revenue. The equity advance also followed Friday’s surge in world stocks, the sharpest rally since June 2012, amid speculation central banks will expand stimulus measures to counter turmoil in financial markets."



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