Gulf stock markets rose in early trade on Sunday after oil made further gains and local companies reported upbeat results. Brent crude jumped 2.2 percent to $57.80 per barrel on Friday, posting its largest two-week gain in 17 years because of falling oil rig counts and violence in producer Libya. Dubai's index rose 0.9 percent in a broad rally. Property developer DAMAC led gains, surging 6.5 percent. The stock originally listed in London, but also joined the emirate's bourse last month and its Dubai shares subsequently plunged by more than a third. It recovered those losses last week and its sharp rise may have attracted more investors. DAMAC will delist from London. Among other developers, Emaar Properties added 0.8 percent and Union Properties rose 1.7 percent. Abu Dhabi's bourse edged up 0.6 percent as most blue chips gained. Shares in food and beverage firm Agthia Group surged 4.2 percent after it reported a 22 percent jump in 2014 profit. Qatar's benchmark climbed 0.4 percent, with Barwa Real Estate, up 2.0 percent, the main support. Markets in Kuwait and Oman climbed 0.6 and 0.5 percent respectively. http://english.ahram.org.eg/News/122480.aspx
