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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.

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

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