MIDEAST STOCKS-Petchems support Saudi, Qatar retreats after surge on FTSE | Reuters:
"Gulf stock markets were narrowly mixed in quiet trade on Thursday as petrochemical shares supported Saudi Arabia's index but Qatar pulled back after a surge this week due to hopes for inflows of foreign funds.
The Saudi stock index closed 0.1 percent higher as the petrochemical sector's sub-index gained 1.1 percent after Brent crude oil futures hit a five-week high of $49.93 a barrel overnight. Saudi Arabia Fertilizers closed 4.8 percent higher in volatile trade.
But Qatar's index dropped 0.8 percent after gaining this week on expectations for fund inflows in mid-September, when index compiler FTSE will upgrade the bourse to emerging market status."
'via Blog this'
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