x Abu Dhabi, UAESaturday 22 July 2017

Agility shares suspended over Canada contract reports

Markets Update: Kuwait's Agility gets suspended from trading after local papers cite the logistics operator is bidding for a contract.

Agility's shares were suspended on Monday after media reports said the logistics operator is competing for a supply contract for a Canadian military base in Kuwait.

"The Kuwait Stock Exchange would like to announce that it has stopped trading the shares of Agility until the company can provide more information and clarity in what has been published in the local newspapers," according to a statement on the bourse' website.

Agility's shares have risen for four consecutive sessions to a four-month high. On Sunday, the stock surged 6.9 per cent to 385 Kuwaiti dinars a share.

Kuwait's measure added 0.2 per cent to 5863.70 points at 11am Dubai time.

Trading was subdued in the UAE, with Dubai's stock exchange trading 0.3 per cent lower to 1393.74 points, and Abu Dhabi's index flat at 2500.53 points.

Elsewhere in the region, Bahrain's index lost 0.5 per cent to 1157.58 points. Oman's measure was little changed at 5560.91 points. Qatar's benchmark added 0.2 per cent to 8286.56 points. The Saudi Tadawul All-Share Index added 0.2 per cent to 6099.77 points.

 

halsayegh@thenational.ae