Mideast Stocks: Most major markets end higher on oil price gains

SourceZawya
SectorFinancial Markets
CountryMiddle east

Mideast Stocks: Most major markets end higher on oil price gains CIB best performer on Egyptian benchmark    An Emirates NBD counter is seen as traders monitor stocks at the Dubai Financial Market at Dubai World Trade Center, February 2, 2012. Image for illustrative purposes.Most major Gulf stock markets finished higher on Wednesday as oil prices jumped after industry data showed a bigger-than-expected drop in U.S. crude inventories, before rising global COVID-19 infections capped the crude price gains.Brent crude rose to a session high of $57.42 a barrel, their highest since Feb. 24, before prices steadied. In Dubai, the main index firmed 0.8% for its fifth straight session of gains, with the emirate's biggest bank Emirates NBD  putting on 1.3% to finish as the best performer in the bechmark.Brent crude rose to a session high of $57.42 a barrel, their highest since Feb.

24, before prices steadied. Most major Gulf stock markets finished higher on Wednesday as oil prices jumped after industry data showed a bigger-than-expected drop in U.S. crude inventories, before rising global COVID-19 infections capped the crude price gains.In Dubai, the main index firmed 0.8% for its fifth straight session of gains, with the emirate's biggest bank Emirates...read more...