Kuwait Stocks Extend Advance as Banks Weigh on U.A.E. Markets
- Kuwait equity gauge at the highest level since August 2015
- Dubai’s Emirates NBD likely to release earnings this week
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Kuwait’s main stock gauge, the Middle East’s best performer this year, rose for an eighth day, while shares in the United Arab Emirates fell as investors bet banks will boost provisions for bad loans.
Kuwait’s SE Price Index advanced 1.9 percent to the highest level since August 2015 as 107 of the measure’s 182 members gained, the most in more than two years. Traders exchanged 722 million shares, more than any other day since September 2013. Emirates NBD PJSC, the U.A.E.’s biggest bank, will probably post its 2016 earnings this week. The Dubai-based lender declined 1 percent.