JEDDAH/DUBAI: Kuwait’s Agility rallied on Sunday after a US judge’s report favored the logistics firm, spurring investors to bet on a more positive outcome to a US fraud case that had sent its shares tumbling.

Most Middle East markets rose as upbeat world stocks boosted regional risk taking.

“Global markets over the weekend did well – this was reflected in Saudi Arabia yesterday (Saturday) and so it was natural to see other Arab markets do well today (Sunday),” said Haissam Arabi, chief executive at Gulfmena Alternative Investments.

Agility rose 5.6 percent to its highest close since Aug. 15. On Friday, a US judge said prosecutors had failed to follow the correct process when indicting Agility on fraud charges. [Read More]