MARKET TALK: Most Gulf Mkts End Tad Up Ahead of Eid Holidays

Thursday, Aug 16, 2012

1028 GMT [Zawya Dow Jones]--Most Persian Gulf markets end modestly higher Thursday ahead of a long Eid holiday, albeit on narrow volumes. Activity is expected to pick up after the break, traders say. Most bourses will close Sunday and Monday for Eid, while Saudi Arabia is shut all of next week. Doha's market ends 0.8% higher at 8486.96; Qatar Telecom rallies 3.3% to QAR108.90 after the telco received regulator approval to buy the remaining stake in Wataniya Telecom it doesn't already own for KWD2.6/share. Kuwait's benchmark index +0.1% at 5720.36; Wataniya shares suspended since June awaiting more clarity on the Qtel offer. Dubai shares finish +0.1% at 1580.77; DFM +1% at AED0.995. Abu Dhabi's market rises 0.7% to 2575.87; Etisalat +2.1% at AED9.46.(nikhil.lohade@dowjones.com; Twitter: @ZDJnews)

(END) Dow Jones Newswires

16-08-12 1037GMT