Mideast Stocks: Oil boosts Gulf petchems but markets mostly sluggish | ZAWYA MENA Edition:
Petrochemical firms and other oil-related stocks rose in the Gulf early on Tuesday after the Brent crude price surged almost 3 percent to around $85 a barrel overnight, but most stocks in the region were sluggish as emerging markets slumped globally.
The Saudi Arabian index was up 0.1 percent after an hour of trading, with 11 of 14 petrochemical stocks gaining. Saudi Basic Industries rose 0.5 percent.
The Dubai index dipped 0.5 percent, pulled down by real estate stocks on profit-taking after the sector had rebounded moderately in the last few days. Emaar Properties slid 1.9 percent.
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