MARKET TALK: Gulf markets end higher; Kuwait stocks rally after court ruling

Monday, Jun 17, 2013

1016 GMT [Zawya Dow Jones]--Stock markets in the Persian Gulf end higher on Monday, led by Kuwait as investors there cheer the country's constitutional court decision to ratify an electoral reform decree and scrap December's parliamentary election. One of the most positive of possible outcomes from an economic standpoint, analyst at EFG Hermes says. The benchmark KSE Index finishes +1.6% at 8080.55. Dubai shares rise 1.6% to 2382.81, bouncing back from a 2.3% fall Sunday on profit taking. Abu Dhabi's market is up 0.4% to 3643.24 and Doha ends +0.1% at 9429.70. Saudi market trades +1.4% at 7429.68, extending its 0.5% gains from the previous session, after falling more than 4% Saturday amid concerns of escalating geopolitical tensions. "Expect the market to continue rebounding from the unjustified sell-off over the weekend," a Riyadh-based trader says. (nikhil.lohade@dowjones.com; Twitter: @ZDJnews)

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17-06-13 1026GMT