Mideast Stocks: Most major Gulf markets gain; Egypt retreats

Mideast Stocks: Most major Gulf markets gain; Egypt retreats

Most major stock markets in the Gulf closed higher on Monday, with the Saudi index supported by petrochemical shares as oil demand recovers.The Chief Executive of oil giant Saudi Aramco, Amin Nasser, said on Sunday that he sees oil demand recovering in Asia as economies gradually open up after the easing of coronavirus lockdowns. Brent crude was 31 cents, or 0.7%, higher at $44.71 a barrel by 1318 GMT. The kingdom's main stock index edged up 0.1%, led by a 4.3% jump in Saudi Arabia Fertilizers and a 2.1% increase in Sahara International Petrochemical Company.Aramco ticked up 0.2%. The state-owned company on Sunday reported a 73% plunge in profit for the second quarter, but stuck with plans to pay $75 billion in dividends this year.Dubai's main share index traded flat, with blue-chip