Kuwaiti shares climbed to their highest in almost two months led by Agility after the company said merger talks between its Qatari unit and Gulf Warehousing Co. are in the final stages. Abu Dhabi’s measure declined.
Agility, the Middle East’s biggest storage and logistics provider, surged the most in 11 months in Kuwait trading. Emirates Telecommunications Corp, the United Arab Emirates’ biggest phone company, closed at the lowest in two weeks. The Kuwait Stock Exchange Index increased 0.8 percent, the biggest fluctuation among the Gulf’s seven benchmarks, to 7,112.6. Abu Dhabi’s ADX General Index fell 0.1 percent.
U.S. stocks gained on Dec. 24, pushing the Standard & Poor’s 500 Index to a 15-month high, as rising commodity prices boosted metal producers and reports showed the economy is improving. Oil closed at $78.05 a barrel on Dec. 24, up 1.8 percent. On the Abu Dhabi Securities Market shares valued at 114 million dirhams ($31 million) traded today, compared with the 50-day average of 242 million dirhams.
No comments:
Post a Comment