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Gulf Finance House leads Kuwait market advances
- Kuwait: Thursday, May 21 - 2009 at 16:29
The Kuwait Stock Exchange's (KSE) Price Index gained 0.75%, closing at 7,773.2 points. Shares of Bahrain's Gulf Finance House GFH (nine per cent higher) and Kuwait's Global Investment House (up 8.77%) posted the second and fourth largest gain, respectively. GFH, Manama's leading Islamic investment bank, reported a loss of $37m in the first quarter 2009 on May but sees itself well diversified for the next quartes. Shares of Flex Resort plumetted 13.6%. The KSE climbed slightly higher during the first tarding week after parliamentary elections on May 16, which saw four female candidates winning seats for the first time ever in Kuwait. According to EFG Hermes, approval of an Economic Stimulus Package will be the first priority of the new government. EFG Hermes believes that the new parliament will look to increase the package and that the approval will not be automatic.
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Gérard Al-Fil, Financial JournalistThursday, May 21 - 2009 at 16:29 UAE local time (GMT+4)
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