Thursday 5 October 2017

MIDEAST STOCKS-Gulf mostly lower, Kuwait's Zain up on Omantel rumour

MIDEAST STOCKS-Gulf mostly lower, Kuwait's Zain up on Omantel rumour:

"Most Gulf stock markets fell on Thursday, with Qatar falling for a third straight session to a new five-year low, but shares in Kuwaiti telecommunications operator Zain jumped on a rumour that Oman Telecommunications might expand its stake in the firm.

The Saudi index lost 0.4 percent, with the banking sector, which had been relatively robust this week, falling back. National Commercial Bank lost 1.2 percent.

Saudi-based insurer Metlife AIG ANB Cooperative Insurance rose 1.1 percent to 20.04 riyals in its heaviest trade since May 2016, but closed well below its intra-day high of 21.80 riyals."



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