Gulf stocks recover as oil prices advance

18/08/2010 00:00 AST

Gulf stock markets recovered Tuesday as oil prices climbed back above $76 in international markets after five straight days of losses, thanks to a weaker dollar and rising equities, traders said.

World oil prices rallied on Tuesday after five straight days of losses, thanks to a weaker dollar and rising equities following upbeat US economic data.

New York’s main contract, light sweet crude for September, climbed 53 cents to $75.77.

London’s Brent North Sea crude for delivery in October jumped $1.30 to $76.93 a barrel.

Saudi stock benchmark Tadawul All Share Index (TASI)) notched up 0.06 percent to 6,161.76 points.

Qatar’s gauge increased 0.3 percent, Bahrain’s measure climbed 0.4 percent and the Kuwait Stock Exchange Index rose 0.1 percent.

Oman’s MSM30 Index, Abu Dhabi’s ADX General Index were little changed.

Dubai’s stock index climbed the most in two weeks, leading Gulf markets higher.

The DFM General Index climbed 0.9 percent, the most since Aug. 3, to 1,487.28. The measure has slumped 18 percent this year.


Saudi Gazette

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SABIC 114.77 5,915,941

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ADX 4,608.97 23.76 (0.52%)

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ADIB 3.91 0.02 (0.51%)
FAB 11.95 0.20 (1.70%)
ADCB 6.60 0.05 (0.76%)
CBI 0.87 0.11 (14.47%)
FGB 0.00 0.00 (0.00%)

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DFM 3,091.15 -9.24 (-0.30%)

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EMIRATESNBD 10.65 0.05 (0.47%)
EIB 9.50 0.00 (0.00%)
EMAAR 5.61 -0.03 (-0.54%)
EMAARMALLS 2.16 0.00 (0.00%)
DIB 5.30 0.00 (0.00%)

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