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Kuwait market recovery extended

The KSE Market index added 0.38% Thursday, closing at 6,853.2 points. Shares of Islamic insurance provider Wethaq Takaful Insurance Co. ended flat at KD0.051. Rating agency Standard and Poor's said today it has revised the outlook on takaful player Wethaq Takaful Insurance Co. (Wethaq) to stable from negative. "The outlook revision reflects our belief that, despite substantial asset write-downs and the parent's financial troubles, Wethaq has sustained operations in Kuwait and launched a new business in Egypt," said Standard & Poor's credit analyst Lotfi Elbarhdadi.