Mideast Stocks: Most major Gulf markets gain, Abu Dhabi bucks the trend | ZAWYA MENA Edition:
Saudi Arabian stocks gained on Thursday as oil prices rose, while most Gulf markets recovered from a recent sell-off.
Oil futures rose more than $1 a barrel on Thursday, recovering half the nearly 5% lost the day before, on expectations that lower prices may lead to production cuts.
Many investors took profits before the Eid Holiday, which begins on Sunday and lasts for a week in Saudi Arabia and at least three days in other Gulf countries.
In Saudi Arabia, the index rose 0.2%. Saudi Cement gained 7.3%, snapping a three-day losing streak. Samba Financial Group was up 1.4%.
No comments:
Post a Comment