Agility rises as U.S. settlement nears

Agility surges after the U.S. government said it was close to a deal with the Kuwait logistics firm, which is accused of defrauding the U.S. military on multibillion-dollar supply contracts.

Agility climbs 3.3 per cent after being up as much as 8.2 per cent at the open. The shares remain down 42 percent since charges were filed in November. Kuwait's index slips 0.03 per cent to 7,205 points.

"We can expect the market to rise further on talk of merger between Orascom Development Holding and Egyptian Resorts," says Osama Mourad of Arab Finance Brokerage.