MIDEAST STOCKS-Gulf rises with oil over $40; foreigners buy in Egypt | Reuters:
"Most stock markets in the Gulf rose on Tuesday after oil prices firmed above $40 a barrel, while Egypt climbed as foreign investors accumulated shares.
While many regional fund managers believe Gulf stock markets could still be pressured this year by further squeezes in corporate earnings, as governments continue to tighten fiscal policy, for now investors are focusing on the idea that the worst is over for oil prices.
Riyadh's stock index added 0.7 percent in heavy trade. Petrochemical heavyweight Saudi Basic Industries advanced 1.0 percent and other oil-linked stocks also gained."
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