x Abu Dhabi, UAESaturday 20 January 2018

Oman dominates Gulf trading action

Markets Update: Oman's stock-market rose on Thursday, lifted by Galfar Engineering, after the country's government gave a letter of intent for a 29.7 million rial project.

Oman's Galfar Engineering rose the most in two weeks after the construction company received a letter of intent from the Omani government for a 29.7 million rial project.

Galfar's shares rose 2.9 per cent, the biggest increase since October 30, to 0.352 rial. Oman's MSM 30 Index rose 0.3 per cent to 5549.10 points.

In the UAE, the Dubai Financial Market General Index declined 0.4 per cent to 1381.05 points, while the Abu Dhabi Securities Exchange slipped 0.1 per cent to 2472.47 points.

Elsewhere in the region, Kuwait's index lost 0.3 per cent to 5851.00 points. Bahrain's index rose 0.7 per cent to 1168.30 points. Qatar's QE Index was flat at 8745.79 points. The Saudi Tadawul was closed for the day