Thursday 16 May 2013

MIDEAST STOCKS-Kuwait resumes rally; Gulf mkts mixed | Reuters

"Kuwait's bourse resumed a rally in heavy trading on Thursday as upbeat expectations of an improving economy outweighed renewed political woes, while other regional markets were mixed.

Kuwait's benchmark climbed 1.1 percent, its fifth gain in six sessions. The index, up 33.2 percent year-to-date, has been buoyed by a turnaround in sentiment as a calmer political backdrop lifted sentiment and company earnings improved.

Buyers returned after Wednesday's 0.6 percent decline on the index. Some members of Kuwait's cabinet offered to resign earlier this week but there was little reaction from investors; some are expecting a minor reshuffle of members."

'via Blog this'

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