GGI gains on restructuring deals

Gulf General Investment Co rallied today after the company whose portfolio consists of everything from property to oil lubricants said it had "formally completed the restructuring agreements with all its financiers."GGICO's shares jumped 5.5 per cent to 34 fils a share on the Dubai Financial Market. The Dubai Financial Market General Index rose 0.4 per cent to 1470.93 points. Etisalat gained 0.3 per cent to Dh9.23 after the country's biggest telecommunications operator said it appointed Eissa Mohammed Al Suwaidi as chairman, replacing Mohammed Omran. The Abu Dhabi Securities Exchange General Index slipped 0.1 per cent to 2455.57 points. Elsewhere in the region, Kuwait's measure slipped 0.2 per cent to 5866.12 points. Bahrain's index added 0.1 per cent to 1122.52 points. Oman's MSM 30 Index lost 0.6 per cent to 5588.40 points. Qatar's QE Index was little changed at 8204.36 points. The Saudi Tadawul All-Share Index gained 0.5 per cent to 6742.04 points yesterday. from the national.