Qatar Index Advances to 2-Year High; Aldar Gains in Abu Dhabi

Qatar shares gained to the highest in more than two years, led by banks, on optimism government spending on infrastructure will boost economic growth after the country won the rights to host the soccer World Cup in 2022.

Masraf Al Rayan, Qatar’s second-largest lender complying with Islamic law, jumped 9.2 percent and Qatar Islamic Bank increased to the highest in more than a year. The QE Index advanced 1.8 percent to 8,779.49, the highest since Sept. 2008, at the 12:30 p.m. close in Doha. Aldar Properties PJSC surged the most in more than eight months on speculation funding for the company will be “shareholder friendly,” Daman Investments PSC said. That pushed Abu Dhabi’s benchmark 0.5 percent higher.