KUWAIT: Kuwait's Agility, the logistics firm facing US fraud charges, fell after second-quarter results, dragging the index down for a third straight-session.
The stock shed 1.6 percent. It posted a 57 percent drop in second-quarter net profit, but still slightly beat forecasts on Sunday.
The benchmark eased 0.2 percent to 5,808 points. Heavyweights Zain and Kuwait Finance House added pressure, falling 1.1 percent each.
Elsewhere, Qatar Telecommunications (Qtel) pulled the index higher but trading is muted.
Qtel rose 1.3 percent after saying its second-quarter net profit rose 18 percent helped by positive subscriber growth at its subsidiaries abroad.
The benchmark edged higher 0.2 percent to 8,129 points, trimming its 2011 losses to 6.4 percent.
UAE markets edge lower, unable to sustain Sunday's gains with Dubai's Emaar Properties leading the decline.
The developer shed 0.4 percent while builder Arabtec slipped 0.7 percent.
Dubai's index retreated 0.5 percent to 1,470 points, halting three days of gains.
Abu Dhabi's Sorouh Real Estate weighed on the index , slipping 0.9 percent. The index inched down 0.2 percent to 2,594 points.
Investors are wary about the recovery of the property sector and say the picture will become clearer in the third quarter.
"I believe the results in Q2 are not convincing," said an Abu Dhabi-based trader who asked not to be identified. "You have seen the likes of Sorouh deliver units, but I think investors have been disappointed in the past and need to see Sorouh to perform in Q3."
Reuters Monday, 15 August 2011 10:06 AM
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