Firmer crude oil and Asian share prices may encourage investors to accumulate Arabian Gulf equities on Monday.
Brent futures are up 0.5 per cent to $44.47 a barrel in early trading, lifted by reports of renewed talks by some members of the Opec to restrain output.
MSCI’s broadest index of Asia-Pacific shares outside Japan has risen 0.3 per cent and is hovering below a one-year high hit last week.
Saudi Arabia’s petrochemical sector may continue to attract interest after its sub-index rose 1.5 per cent on Sunday; it is down 2.2 per cent over the last three months.
Kuwait’s Agility may rise after the logistics company reported an 11 per cent rise in second-quarter net profit to 15 million Kuwaiti dinars, ahead of Sico Bahrain’s forecast of a quarterly profit of 13.7m dinars.
Egypt’s landline monopoly Telecom Egypt may be bought on news that the board gave its final approval for plans to buy a fourth-generation mobile phone licence, although the price was not disclosed, according to a senior source at the company. This would allow the company to be a direct player in the mobile phone market.