MIDEAST STOCKS-Most Gulf markets recover on financials, Qatar leads | Reuters:
Major Gulf markets staged a recovery on Thursday after opening on a weak note on global market woes, with renewed interest in financial stocks helping overcome volatility in global markets.
The Qatari index rose 0.7 percent, with 18 of its 20 stocks advancing. The Middle East's second largest petrochemical firm Industries Qatar added 1.8 percent while Qatar Islamic Bank increased 0.9 percent.
But Mesaieed Petrochemical plunged by 7.3 percent, having jumped by its 10 percent daily limit in the previous session on news that major shareholder Qatar Petroleum had finished distributing a tranche of free incentive shares to investors, potentially improving liquidity in the stock.
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