MIDEAST STOCKS-Gulf markets pull back; banks weigh on Saudi, Abu Dhabi | Reuters:
"Gulf stocks were flat to lower on Sunday as investors booked profits after recent gains, ignoring a further rise in oil prices.
Brent oil futures settled at $48.13 a barrel on Friday after reaching a 2016 peak at $48.50. They rose 21.5 percent in April, the largest monthly advance since May 2009.
However, stocks have already been gaining for two or three months in response to the idea that oil prices have bottomed out. Investors are focusing now on the damage to corporate earnings from austerity policies in the region."
'via Blog this'
No comments:
Post a Comment