MIDEAST STOCKS-Gulf markets surge as oil nears $39 | Agricultural Commodities | Reuters:
"Rising oil prices boosted stock markets in the Gulf early on Sunday, with construction firm Arabtec leading Dubai's market up and Dana Gas jumping in Abu Dhabi.
Shares in Arabtec surged 8.0 percent in the first hour of trade after a similar rise on Thursday. They have been swinging wildly in speculative trade since exchange data at the start of last week showed former chief executive Hasan Ismaik had raised his stake in the company to 11.91 percent from 11.81 percent. But his stake has not grown since then.
Other speculative shares favoured by local traders also attracted volume with builder Drake & Scull and Islamic investment firm Amlak Finance each advancing over 3.5 percent. Dubai's index was up 2.4 percent."
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