MIDEAST STOCKS-Alhokair supports Saudi market, RAK Properties drags Abu Dhabi | Reuters:
Most Gulf markets posted minor gains in early trade on Sunday, as some companies’ positive financial results offset global trade concerns and lower oil prices.
Oil pulled back late last week, giving up earlier gains as fears that Chinese demand could taper weighed on prices. Brent crude futures settled at $73.21 per barrel on Friday, down 24 cents from their previous close.
This meant that in Saudi Arabia petrochemical companies such as Saudi Kayan Petrochemical Co and blue chip Saudi Basic Industries Corporation (SABIC) were down 0.3 and 0.2 percent respectively.
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