Rise in Middle East stocks as oil exceeds $85
Middle East stocks surge on Friday in the global markets as investors are encouraged by the oil’s gain through the $85 a barrel mark.
Junaid Ansari, Head of Investment Strategy and Research at Kamco Invest says “GCC markets are taking cues from the positive performance in global equity markets on Friday”, “Moreover, oil is now trading at close to eight-year high levels. This should provide a boost on the economic front for almost all the GCC economies.”
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