MIDEAST STOCKS-Gulf jumps on oil price recovery, Egypt edges higher | Reuters:
"Gulf stock markets rose sharply for a second straight trading day on Sunday after oil prices surged at the end of last week, though the Egyptian bourse closed far from its highs on persisting concern over the risk of currency depreciation.
Oil prices rebounded to almost $36 a barrel last week, from a 12-year low close to $27, on hopes that OPEC and non-OPEC producers might eventually agree on a deal restraining oil production to boost prices.
Such a deal is by no means guaranteed, however, and even if an agreement can be reached Gulf economies are still likely to face a difficult year as governments' austerity measures are felt by companies and consumers."
'via Blog this'
No comments:
Post a Comment