JEDDAH — Saudi Arabia's bourse rebounded further on Sunday after oil prices mounted an end-of-week rally, while other Gulf markets were steady although Arabtec weighed on Dubai following the builder's poor quarterly results. Brent oil rose 1.6 percent to $55.32 per barrel on Friday while US crude futures for April delivery jumped 4 percent to settle at $45.72 as the dollar posted its biggest weekly decline against the euro in more than three years. Saudi Arabia's main stock benchmark Tadawul All Share Index added 1.5 percent to 9,315 points as petrochemical giant Saudi Basic Industries (SABIC) climbed 1.1 percent and other sectors, such as banks and property firms, were also strong. Real estate developer Dar Al Arkan jumped 2.8 percent and was the most traded stock, while Emaar Economic City climbed 2.2 percent. Top lender National Commercial Bank surged 4.2 percent. Local and regional investors are accumulating Saudi equities as the kingdom prepares to allow direct foreign share ownership in the first half of 2015. Savola Group stabilized, falling 1.1 percent. It dropped by its daily 10 percent limit on Thursday after the firm halved its outlook for first-quarter profit before capital gains because of suffering retail sales and exports. Yanbu National Petrochemicals Co and Southern Province Cement fell 1.8 and 2.4 percent respectively as they went ex-dividend. Elsewhere, Dubai's index was the weakest in the Gulf, falling 1.4 percent to 3,426 points because of builder Arabtec which tumbled its daily 10 percent limit. Abu Dhabi slipped 0.3 percent and Qatar eased 0.05 percent. — SG/Reuters
