The rise of the Middle East bourses with the recovery of the global oil markets

Dubai February 16 (Reuters) - Most stock markets rose in the Middle East in a strong trading volumes on Tuesday, supported by a recovery in the global oil and stock prices.

He added the main Saudi index 0.9 percent to 5740 points in heavy trading its gains for the second session in a row since the news that the central bank raised the ceiling of loans to deposits in local banks to 90 percent from 85 percent to contain the liquidity squeeze in the sector.

But the index closed below its highest level during the session of 5848 points, after Saudi Arabia and Russia, Qatar and Venezuela have agreed to freeze oil production at January levels if other producers have taken a same step. Oil prices rose in anticipation of the Declaration, but backed off a little bit later.

Capital Economics said that the London-based report said the agreement could boost world oil prices, but "it is unlikely to alter significantly the economic outlook for the GCC countries."

There are doubts about whether the deal would hold or not with Iran's quest to regain its share of the global oil market after the lifting of sanctions.

It is unlikely that oil prices will rise enough to end the pressures on public finances for the Gulf States. Capital Economics expects economic growth in the region between one and two percent only in 2016 and 2017.

And closed the company Saudi Basic Industries Corp (SABIC), up 1.5 percent. The Banks sector index rose 0.3 percent.

Shares in Dar Al Arkan Real Estate Development 1.1 percent after Moody's lowered its rating on the company to B1 with negative outlook from B3 with a stable outlook.

It rose the main index of the Egyptian stock market 1.6 percent, with the rise of Orascom Telecom 1.8 percent and was the most heavily traded in the market.

Beltone Financial jumped ten percent share for the fourth straight session.

But the scarcity of dollar crisis that led to the exodus of foreign funds from the Egyptian stock market over the months have yet to recede.

UAE, Qatar

Dubai's index rose two percent to 3065 points in active trading, trimming its losses since the beginning of the year to 2.7 percent and registered the best performance among the region's bourses.

The focus of trading on the shares of medium-sized companies, which traditionally features thin trade with the rise of Deyaar five percent and Dubai for parks and resorts 3.5 percent.

The index rose to Abu Dhabi 0.8 percent, trimming its losses since the beginning of the year to 3.9 percent. And it formed a real estate stocks a major support for the market with the rise of sagittal Sunshine Real Estate and Aldar 1.7 percent.

And Qatar's index rose 0.2 percent to 9873 points, the largest volume since the beginning of the month. And blue chip stocks supported the market with the rise of arrows and Barwa Al Rayyan Bank by more than three percent each.

In Kuwait, shares of Kuwait Projects Company (KIPCO), which sees a meager trading 1.9 percent after the largest investment company in the country recorded an increase of 10.7 percent in net profit for the fourth quarter of last year to 15.8 million dinars rose ($ 52.9 million). Kuwait fell 0.1 percent market index.

The following is a close Arab stock markets levels:

Saudi Arabia .. The index rose 0.9 percent to 5740 points.

Egypt .. The index rose 1.6 percent to 5895 points.

Dubai .. index rose two percent to 3065 points.

Abu Dhabi .. index increased 0.8 percent to 4140 points.

Qatar .. The index rose 0.2 percent to 9873 points.

Kuwait .. index fell 0.1 percent to 5135 points.

Oman .. index rose 0.6 percent to 5380 points.

Bahrain .. index increased 0.2 percent to 1169 points.