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Friday January 19th 2018

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AME Info, Abu Dhabi, United Arab Emirates, finance and economy briefs


BAHRAIN MARKET ADDS A QUARTER PERCENT: After weeks of an almost non-stop decline, the Bahrain All Share Index showed some form of life while closing 0.26 percent higher at 1,396.14 points. As at the Kuwait market, Ithmaar Bank posted the largest advance and ended 9.1 percent up at $0.12. Bahrain Telecom (Batelco) followed with a day gain of 2.73 percent, finishing at BD0.565.

QATAR TELECOM LEADS DOHA EXCHANGE ADVANCE: The QE Index extended its rebound from Sunday, finishing 1.05 percent higher at 7,123.12 points. Shares of Qatar Telecom gained 4.50 percent (at QR169) while its rival Vodafone Qatar ended flat at QR8.40. Qatari shipping company Nakilat (which means “carriers” in Arabic) was the most liquid share, closing unchanged at QR19.20.

KUWAIT BOURSE ENDS FLAT: The Kuwait Stock Exchange (KSE) faced a loss during the first hours of trading but a last minute buying spree saved the KSE Market Index (up 0.05 percent at 6,643.7 points) from ending in the red. Islamic bank Ithmaar topped the charts by closing 8.33 percent higher at KD0.0325 in a V-shape reversal. Contrary to the UAE stock markets, real estate shares performed weaker at the KSE as the real estate sector index dipped half a percent. United Real Estate Company (down 2.6 percent at KD0.075) and Kuwait Real Estate Company (3.22 percent lower at KD0.060) and National Real Estate Company (off 2.9 percent at KD0.138) ended with losses. [Read More]