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Kuwait Stock Exchange bucks global downtrend

29 June 2010

The KSE Market Index emerged as the only gaining composite in the GCC on Tuesday, advancing 0.45% at 6,587.40 points. Banks in particular led the rebound in the Gulf state, whose stock market usually positively correlates with oil prices (the "black gold" lost over two percent in value on Tuesday morning). United Gulf Bank (UGB) extended its rebound and added 7.937% and breaking through the resistance

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