MIDEAST STOCKS-Gulf bourses rises in early trade as oil breaks $50 | Reuters

MIDEAST STOCKS-Gulf bourses rises in early trade as oil breaks $50 | Reuters:

"Gulf shares rose in early trade on Thursday as oil prices climbed to hit their highest levels in six months and global equity markets edged higher.

Petrochemical shares lifted Riyadh's index 0.6 percent with Saudi Basic Industries, the largest listed producer, adding 1.2 percent as Brent oil prices broke over $50 a barrel in Asian trade.

Makkah Construction added 0.6 percent after it reported a 6 percent rise in its quarterly income. The company attributed the growth to higher occupancy at its Mecca-based Hilton Towers."



'via Blog this'