Kuwait's Global Investment House posted a narrower fourth-quarter net loss of 44.6 million dinars ($154.9 million), driving its shares two percent higher level.

The company reveals a full-year net loss to touch 148.8 million dinars in 2009, compared with a net loss of 257.6 million dinars for the period the previous year, it posted in a statement on the Kuwaiti bourse website on Sunday.

However, it did not detail a reason for the loss.

In January, Global's Managing Director Maha al-Ghunaim hopes to witness a massive improvement in 2009 results, and said was optimistic about growth in 2010, signaling the worst was over.

However, Reuters estimations based on previous financial data, which depicted a net loss in the first nine months of 104.2 million dinars, put the fourth-quarter loss at 44.6 million dinars, compared to a net loss of 360.5 million dinars in the same period in 2008.

In a separate statement on Sunday, Global revealed to have grabbed a profit of about 200,000 dinars following the sale of its stake in Egypt's Real Estate Finance House Co, to Cairo-based Arab African International Bank.

Shares of Global grew by 6 percent at 0712 GMT after the results were released.