Markets

Middle East Shares Rise, Saudi Shares Get Boost from Oil; Several Markets Close for Holiday

MidEast stocks rose, with Saudi stocks getting help from higher crude prices.

Brent crude hovered around $56 per barrel.

Qatar rose for the third straight day, buoyed primarily by local funds.

In company news, Saudi Research and Marketing signed a 10-year contract with Bloomberg for an exclusive license to launch a Bloomberg Arab channel. The annual license cost is 33.8 million riyals.

Saudi Arabia's main index inched up 0.09% to 7,326 points, Qatar added 0.2% to 8,361 points and Oman jumped 1.2% to 5,100 points. The United Arab Emirates, Kuwait, Bahrain and Egypt were closed for the Islamic New Year holiday.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Stocks

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More