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Discuss this article (0 Comments)Kuwait index closes at 2009 high
by This email address is being protected from spam bots, you need Javascript enabled to view it on Sunday, 24 May 2009
MARKET BOOST: Dana Gas helped boost the Abu Dhabi index on Sunday. (Getty Images)
Kuwait's bourse closed at its highest level this year, as firm oil prices send most Gulf Arab markets higher.
Kuwait's index closed 1.11 percent higher at 7,859 points, its highest finish since late December.
Emaar Properties surged 12.6 percent, its biggest one-day gain in three months and drives the emirates' benchmark 4.06 percent higher.
The index ended at 1,734 points while Abu Dhabi's bourse rose 0.51 percent to 2,625 points.
In Qatar, Al Khaliji Commercial Bank fell 4.41 percent on profit-taking, leading Qatar's bourse lower after four trading days of gains.
Al Khaliji has risen by more than 50 percent during the last month.
Qatar's bourse slipped 0.33 percent to 6,786 points.
Banks led Oman to close higher for a second trading day, with Bank Muscat climbing 2.92 percent and National Bank of Oman 2.11 percent, as steadying oil prices boosted investor sentiment.
Muscat's index rose 0.67 percent to 5,544 points.
Saudi Basic Industries Corp (SABIC) and Al Rajhi Bank fell 2.53 percent and 1.05 percent respectively, leading the kingdom's index to close lower.
The benchmark dropped 0.8 percent to 6,052 points.
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