MIDEAST STOCKS-Saudi surges on oil prices, Kuwait gains on FTSE Russell inclusion | Reuters:
Saudi stocks rose 1.8 percent on Tuesday on the back of a surge in oil prices, while Kuwaiti shares gained on hopes of more foreign fund flows after inclusion in the FTSE Russell emerging market index.
Oil prices jumped to a fresh four-year high, helping push Petrochemicals giant Saudi Basic Industries up 2.8 percent, refiner Petro Rabigh 1.6 percent and Al Rajhi Bank 2.6 percent.
The Saudi index closed at 7,905 points on Tuesday above its 200-day average, which analysts see as a positive technical signal for the index.
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