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Tue 29 Sep 2009 10:27 AM

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Drake & Scull shares rise on Thailand win

UPDATE 6: Firm's stocks end 3.1% higher after AED130m deal, while Saudi benchmark advances.


Drake & Scull International

ended 3.1 percent higher after it said on Monday it won a AED130m contract in Thailand.

Dubai's bourse ended 1 percent higher at 2,162 points, with
Commercial Bank of Dubai

rising 4.8 percent.

Abu Dhabi's benchmark climbed 1.2 percent to 3,126 points led by
First Gulf Bank

which climbed 5.9 percent.

Banks led Saudi Arabia's market to close higher for a ninth trading day.

Samba Financial climbed 3.2 percent and Riyad Bank 3.2 percent as the kingdom's benchmark edged 0.8 percent higher to 6,279 points.

Kuwait Finance House

helped steer the country's benchmark to a lower close as most other Gulf regional bourses rose, boosted by investor sentiment.

Kuwait Finance House

fell 3 percent and the benchmark eased 0.1 percent to 7,834 points.

Qatar's bourse rose 0.3 percent to 7,457 points while Bahrain fell.

Oman's index closed higher for a fifth trading day out of six, led by Port Services Corp which jumped 10 percent, as strength in global markets boosted most Gulf Arab bourses.

Muscat's benchmark rose 0.3 percent to 6,600 points.

Qatar National Bank

and
Industries Qatar

led the country's index higher in early trading.

Qatar's bourse rose for a sixth session out of seven, climbing 0.6 percent to 7,484 points. Bahrain also fell. (Reuters)

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