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Wed 25 Jul 2007 02:45 PM

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Gulf markets review - July 25

Kuwait's main index closes up for a third day; Dubai's main index is down for the seventh time in eight trading days.

Kuwait's main index closed up for a third day, paced by Mobile Telecommunications Company (MTC) and National Industries Group. Bahrain also rose, while Qatar fell for the third time in five trading days.

Kuwait was up 0.54% at 12,491.10 points. MTC climbed 2.39% and National Industries surges 6.58%. Qatar dropped 0.51% to 7,598.34 points, paced by Qatar Telecommunications Company (Qtel) and Industries Qatar, which fell 1.23% and 0.18% respectively.

Bahrain's index closed higher for the sixth time in eight trading days, paced by Bahrain Telecommunications Company (Batelco) and Arab Banking Corporation. They rose 2.6% and 5.3% respectively.

Dubai's main index closed down for the seventh time in eight trading days, paced by Emaar Properties and Dubai Financial Market Company. Abu Dhabi and Oman closed higher.

The Dubai index dropped 0.57% to 4,322.00 points. Emaar dropped 0.45% and Dubai Financial Market Company 1.92%. Abu Dhabi closes higher for the second time this week, up 0.31% to 3,590.83 points. National Bank of Abu Dhabi rose 1.75%, while United Arab Bank surged 7.09%.

In Oman, the index rose for the seventh time in nine trading days, up 0.18% to 6,436.99 points.

Saudi Arabia's main index closed higher for a third straight day, paced by Saudi Telecommunications Company (STC) and Riyad Bank.

The index, the only loser in the Gulf this year, climbed 0.83% to 7,633.54 points. STC was up 2.65% and Riyad Bank 3.72%.