Article: Most Gulf Arab markets rise Sri Lanka's stock market

Article from:
Colombo Times
Article date:
October 6, 2009
Copyright

Sri lanka, Oct. 6 -- DUBAI: Most Gulf Arab markets rose yesterday, with real estate and bank stocks lifting UAE bourses, though Kuwait bucked the trend, dragged down by Zain, whose stake sale saga has made it the target of speculators. Abu Dhabi banks lifted the index to close up 0.7 percent as investors were drawn to the sector by talk that lenders there are flush with liquidity, while real estate stocks helped Dubai end 2 percent higher.

Shares in Kuwait's Zain fell 2.9 percent, a day after soaring nearly 8 percent on news two Indian investors were interested in joining a consortium to buy up to 46 percent of the telecoms group, according to a major shareholder Kharafi Group. Last ...

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