Gulf stock markets extended gains from Wednesday, with Kuwait and Abu Dhabi registering marked improvements, except Bahrain and Oman which closed lower. Saudi Arabia's market was closed on Thursday for the weekend. Kuwait's bourse extended its gains from the previous day, as the Kuwaiti parliament passed a privatization bill that will open up the sector for private ownership, helping boost sentiment. “This is an important step in boosting sentiment and confidence in the government to tackle other areas of reform,” EFG-Hermes said in a note to investors. “While we do not expect an immediate pickup in privatization activity, it is an important further indication of improved government and parliamentary relations and the ability of the government to move ahead with its investment program,” the bank said. Kuwait's index climbed 0.3 percent to 7,155 points. Abu Dhabi's benchmark index rose to the highest in more than two weeks as Dana Gas PJSC returned to profit and US earnings gave investors eased concern from Europe's debt crisis. The ADX General Index gained 0.3 percent to 2,803.39, an April 27 high. The measure added 0.4 percent this week. Dubai's index advanced 0.2 percent. Qatar's index QSI climbed 0.3 percent to 7,344 points, helped by its banking sector with the exception of Al Khaliji Commercial Bank which fell 2.6 percent, erasing some of the gains of the previous days. In Oman, blue chips led the index MSI lower, as investors traded mostly in small-cap stocks such as Al Anwar Holding. Muscat's bourse fell 0.6 percent to 6,707 points. Bank Muscat and Omantel, Oman's two biggest companies by market value, ended 0.9 percent and 1.4 percent lower. Bahrain's gauge fell 0.3 percent.
