Manama's stock market continued ist recovery and closed 0.50% higher at 1,407.87 points. Bahrain Telecommunications Co. (Batelco) finished 2.80% higher at BD0.550. Gulf Finance House (GFH) closed unchanged at $0.14, contrary to the Dubai Financial Market where its shares gained 3.65%. GFH announced today it has reached formal agreement with the German WestLB syndicate for a S$100m Murabaha Facility Agreement. The agreement is for a two year period with an additional one year term at GFH's option i.e. up to three years in total at a reduced profit rate.