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Gulf shares rise, led by Omantel and Commercial Bank of Kuwait

Gulf shares rose, led by Oman Telecommunications Co., the sultanate's biggest phone company, and Commercial Bank of Kuwait SAK.

  • Agencies
  • Published: 10:48 October 9, 2008
  • Gulf News

Dubai: Gulf shares rose, led by Oman Telecommunications Co., the sultanate's biggest phone company, and Commercial Bank of Kuwait SAK.

Oman's Muscat Securities Market 30 Index gained for the first time in five days, rising 7.7 per cent to 7,139.41 at 11:13am local time. The Kuwait Stock Exchange Index gained 3.3 per cent.

Omantel surged 10 per cent to 1.718 rials. The shares slumped 21 per cent in the previous five days. Commercial Bank of Kuwait, the country's third-largest lender, advanced 8.2 per cent to 1,320 fils.

The Dubai Financial Market General Index fell 1 per cent and the Abu Dhabi Securities Exchange General Index lost 0.3 per cent. The Bahrain All Share Index added 0.3 per cent, while Qatar's DSM 20 Index gained 3.4 per cent.

The Saudi stock market, the largest in the Arab world, was closed on Thursday after a rollercoaster ride on the final day of trading this week.

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