MIDEAST STOCKS-Petchems lift Saudi, Global Telecom aids Egypt | Reuters:
"Petrochemical stocks led Saudi Arabia's stock market higher in early trade on Sunday after oil prices rose sharply last week, while Egypt's bourse rose on the back of Global Telecom, a favourite of foreign investors.
The Saudi index gained 1.2 percent to 6,048 points in the first 45 minutes as Saudi Basic Industries and the petrochemical sector as a whole both surged 2.1 percent.
Alujain Corp, an industrial investment company focused on petrochemicals, jumped 5.7 percent despite reporting a 36 percent drop in last year's net profit."
'via Blog this'
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