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Sun 29 Mar 2015 12:13 PM

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Stock markets: Gulf bourses mixed, Kuwait rebounds from Yemen sell-off

Dubai's index edged up 0.4% thanks to Emaar Malls, which climbed 1.4%

Stock markets: Gulf bourses mixed, Kuwait rebounds from Yemen sell-off

Gulf stock markets were mixed in early trade on Sunday after brief sell-offs at the end of last week because of escalating military conflict in Yemen.

Dubai's index edged up 0.4 percent thanks to Emaar Malls, which climbed 1.4 percent. The company posted a 23 percent increase in 2014 profit in February but has yet to announce its dividend proposal.

Abu Dhabi slipped 0.5 percent because of First Gulf Bank and Aldar Properties, down 2.0 and 1.7 percent respectively.

Qatar's bourse added 0.1 percent as Ezdan Holding rose 0.7 percent, beginning to recover from a slide in the previous session when it went ex-dividend.

Kuwait's market rallied broadly, lifting the benchmark 1.2 percent. Unlike bourses in the UAE and Qatar, which ended well above their Thursday lows, Kuwait closed at the peak of a sell-off driven by concerns about the Yemen fighting.

Oman's bourse was flat.

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