Complex Made Simple

Kuwait banking stocks end mixed

Despite positive growth prospects, the Kuwait market KSE does not find momentum for a year-end rally. Citi expects the Kuwait economy to grow 4.5% in 2011 (after 3.1% in 2010). The KSE Market index lost 0.73% to end at 6,798. Financial heavyweights National Bank of Kuwait (NBK) and Islamic bank Kuwait Finance House (KFH) ended flat at KD1.340 and KD1.180 respectively. Gulf Bank of Kuwait (GBK) declined 1.8% to finish at KD0.540 as investors cash in profits. GBK gained over 86% year-to-date.