Thursday 18 October 2012

MIDEAST STOCKS-Kuwait falls to 4-wk low on political tensions; Gulf mixed | News by Country | Reuters

Kuwait's bourse dropped to a four-week low on Thursday because of rising political tensions, while other Gulf bourses were mixed in quiet trade ahead of the weekend.

Jittery investors have sold shares in Kuwait since protests on Monday which called for the emir to set a date for upcoming parliamentary elections. Worries about politics weighed on the market on Thursday ahead of a cabinet meeting later in the day.

In some of the strongest remarks by an opposition figure, former lawmaker Musallam al-Barrak appealed directly to Kuwait's Emir Sheikh Sabah al-Ahmad al-Sabah during the protests to avoid "autocratic rule". His speech contained extremely rare criticism of the emir, which analysts said might spark a strong reaction from the authorities.

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