Stock markets in the energy-rich Gulf states made a strong rebound in opening trade Tuesday, led by the Saudi bourse which jumped 5.6 percent, as oil prices bounced after heavy losses.
Energy giant Aramco, which dominates the Saudi Tadawul market, gained 5.5 percent after a series of sessions in the red where it tumbled below the price where it listed last December.
Boursa Kuwait, where trading on its premier index was suspended for two days due to huge losses, rallied 6.6 percent and the Qatar stock market rose 3.0 percent.Dethronement reversible, says Sanusi’s lawyer After Russia rejected calls from oil-exporting cartel OPEC, which includes Saudi Arabia, for deeper output cuts to combat a coronavirus-fuelled slump in demand, Riyadh drove through massive price cuts in a bid to win market share.
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