Thursday 23 August 2012

STOCKS NEWS MIDEAST-Wataniya extends gains; UAE mkts edge up - Yahoo! News Maktoob

Kuwait's Wataniya rallies for a second session since resuming trade after Qatar Telecom offered to buy a $2.2 billion stake, while United Arab Emirates markets edge higher as global optimism spills over.
Shares in Wataniya are up 4.4 percent to 2.4 dinars per share, approaching Qtel's offer price of 2.6 dinars. Doha's former state monopoly offered to buy the remaining 47.5 percent that it does not own in the company through a tender offer open to shareholders.
Kuwait's main index, however, eases 0.2 percent to 5,756 points, snapping a five-session rally. The market is still recovering from an eight-year low that it hit on Aug. 12 as a long political crisis pushed investors to cut positions.

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