Saudi Overhaul Ends Gulf Stocks' Worst Run in 2 Months: Chart

Photographer: Fayez Nureldine/AFP via Getty Images
Source: Bloomberg

Stocks in the Gulf Cooperation Council ended their longest losing streak since March after Saudi Arabia’s King Salman issued more than 50 decrees as the kingdom diversifies its economy away from oil. The overhaul, which included replacing the oil minister and central bank governor, helped lift the Bloomberg GCC 200 Index 0.4 percent at the close, its first gain in six days. Riyadh-based companies Saudi Electricity Co., Saudi Basic Industries Corp. and Al-Rajhi Bank led the advance.

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