**PLEASE NOTE THIS IS A PRESENTED MARKET REPORT**

Thomson Reuters Journalist Maryam Behmard says Middle East markets gained strongly for a second straight day, as oil prices rebounded from the day's lows.

SHOWS: LONDON, ENGLAND, UK (JANUARY 28, 2015) (REUTERS - ACCESS ALL)

1. THOMSON REUTERS, JOURNALIST, MARYAM BEHMARD, SAYING:

Middle East markets gained strongly for a second straight day, as oil prices rebounded from the day's lows,

Brent crude fell after an industry report said U.S. crude stocks rose by the most in two decades.

Although we saw some recovery, and trade hovering around $49 per barrel later in the day...

The main Saudi stock index jumped 2.6 percent.

Petrochemicals giant Saudi Basic Industries, rose more than 5 percent while its subsidiary Yanbu National Petrochemical also climbed its daily 10 percent limit.

Banks were some of the top gainers as well.

Samba Financial Group surged almost 8.9 percent.

Telecommunications sector also gained with Zain Saudi up 5.6 percent after its Kuwaiti parent Zain said it had appointed advisors to study the potential sale of its transmitter towers.

Most other Gulf markets edged up.

Kuwait's index added 0.3 percent .

Shares in Gulf Bank jumped 3.4 percent after it reported a rise in fourth-quarter net profit to $30.4 million.

Dubai edged up 0.4 percent on thin news flow, but Abu Dhabi's benchmark fell 0.3 percent, despite a strong performance by Union National Bank which surged more than expected.

Meanwhile over in Egypt, its main index edged down 0.8 percent after hitting a fresh 6-1/2 closing high onTuesday.

That's your Middle East market wrap.