Qatar’s QE Index rose 1.1 percent to 8,625.42, the highest level since October 2008, at the 12:30 p.m. close in Doha. The Dubai Financial Market General Index increased 0.6 percent.
The following stocks gained or fell in the Gulf. Symbols are in parentheses.
Commercial Bank of Qatar (CBQK QD) advanced to the highest in more than two years, gaining 1.7 percent to 91.5 riyals. Bank of America Merrill Lynch raised the price estimate of Qatar’s second-biggest lender by assets by 15 percent to 101 riyals.
Qatar National Bank (QNBK QD) surged to the highest level in more than five years, jumping 1.1 percent to 188.5 riyals. The Persian Gulf country’s biggest lender by assets had its price estimate raised 15 percent to 212 riyals at BofA.