Thursday 12 May 2016

MIDEAST STOCKS-Gulf markets edge up on strong oil price | Reuters

MIDEAST STOCKS-Gulf markets edge up on strong oil price | Reuters:

"Gulf stock markets edged up in early trade on Thursday after Brent crude oil futures surged 4.6 percent on Wednesday to near their highest levels this year.

The Saudi stock index gained 0.5 percent in the first 15 minutes, with Najran Cement 3002.SE> climbing 2.9 percent in unusually heavy trade after it said it planned to pay a 0.60 riyal per share dividend for the first half of 2016.

Saudi Printing and Packaging, which had risen 1.3 percent on Wednesday in the heaviest trade since it listed in July 2007, jumped a further 4.2 percent."



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