Most Middle East stock markets became more stable on Monday, after plunging in previous days, as the price of oil recovered slightly. But fund managers said it was by no means clear that any sustained recovery of stock prices was starting.
Brent crude climbed above $62 per barrel, after hitting 5-1/2-year lows of $60.28 earlier, as traders began pricing in expectations of improving global manufacturing data to be published later this week.
Dubai's stock index inched up 0.1 percent as most shares in the emirate gained. The market rose as much as 4.8 percent during the day before giving up almost all those gains by the end of the session.
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