Saudi stocks firm in early trade

Saudi Arabia’s stock market rose in early trade Sunday after oil prices closed last week on a strong note, with Brent oil above $41 a barrel.

The Saudi index climbed 0.8 percent in the first 20 minutes on broad-based buying; nine of the 10 most heavily traded stocks gained.

Telecommunications firm Zain Saudi, which had jumped 8.9 percent on Thursday after sources told Reuters that its Kuwaiti parent Zain was narrowing the field of potential bidders for 7,000 towers owned by the Saudi firm, added a further 3.1 percent.

Source: Reuters