Markets

MidEast Shares Mixed, Kuwait Food Co Soars to Record on Deal Talks

MidEast stocks were mixed, with Kuwait getting a boost from Kuwait Food Co, which hit a record high after Saudi Arabia's Savola Group said it was in preliminary talks to acquire the company.

Manwhile, Egyptian stocks touched a six-year high although Telecom Egypt fell despite posting a 14% rise in Q2 profit.

Kuwait's main index firmed 0.2% to 7,246 points, Saudi Arabia inched up 0.04% to 10,593 points, Abu Dhabi edged up 0.3% to 5,003 points, Dubai slipped 0.1% to 4,805 points, Egypt added 0.2% to 9,288 points, Qatar rose 1.8% to 13,523 points, Bahrain slipped 0.5% to 1,470 points and Oman firmed 0.1% to 7,298 points.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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