MIDEAST STOCKS-Saudi surges on oil, Orascom Telecom lifts Egypt | Reuters:
"Firmer oil prices and a revival of global risk appetite helped lift stock markets in Saudi Arabia and Egypt in early trade on Sunday.
Riyadh's index was up 2.4 percent as petrochemical firms and banks gained momentum, with Saudi Basic Industries and Samba Financial Group each up more than 2.0 percent.
Moody's put the debt ratings of Saudi Arabia and three other Gulf states on review for possible downgrade late on Friday. But many investors saw this as a belated response to old news, and focused instead on oil's rebound near $39 a barrel in the past couple of weeks."
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