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Fickle oil prices weigh on Kuwait Stock Exchange

: Monday, February 03 - 2014 @ 12:49

The KSE Market Index lost 0.30 per cent to 7,786.72 points in Monday, February 3. Oil prices (US crude) traded 0.75 per cent lower at approximately $97.50 per barrel, weighing on the sentiment. Kuwait, which produces more crude oil per day than Algeria and Indonesia together, sources 95 per cent of its federal budget from the oil industry. Kipco Asset Management (up by 7.81 per cent at KD0.138) gained the most, while Pearl of Kuwait Real Estate Company (down by 8.2 per cent at KD0.028) ended as the top loser.

Gérard Al-Fil

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Monday, February 3- 2014 @ 12:49 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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