Gulf Arab Stocks Cap the Best Week Since 2011 on Oil Recovery
- Bloomberg BGCC 200 Index rallies 6.8% in five-day period
- Brent crude rises above $33 a barrel in second week of gains
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Equities in the Arabian Gulf gained, extending their best weekly rally in five years, as the rebound in crude boosted the outlook for the world’s biggest oil-exporting region.
The Bloomberg GCC 200 Index, which tracks 200 companies in the six-nation Gulf Cooperation Council, gained 2.8 percent on Thursday, capping a five-day advance of 6.8 percent. Dubai’s DFM General Index jumped 3.8 percent on the final day of the week’s trading, the most among more than 90 gauges tracked by Bloomberg worldwide.