Qatar, Abu Dhabi Shares Rise as Oil Gains; Qatar Shipping Soars

Qatar and Abu Dhabi shares gained, with the United Arab Emirates’ index rallying to a November high, as oil traded near $76 a barrel and emerging markets extended the longest rally in more than four years.

Qatar Shipping Co., a marine freight transportation company which plans to combine with Qatar Navigation, was poised for its highest close since January after it said nine-month profit advanced 13 percent. Qatar Navigation also increased. Arkan Building Materials Co. soared to its highest in two months. Crude oil reached a one-year high on optimism fuel demand will increase and the MSCI Emerging Markets Index advanced for a ninth day, the longest stretch of gains since September 2005. Dubai’s benchmark index declined.

“Positive sentiment remains intact ahead of earnings,” said Ali Khan, head of cash-equity trading at Dubai-based Arqaam Capital Ltd. “We’re seeing a mixed session, despite a strong backdrop to international markets and oil at a year-high, as retail traders may look to exit the market ahead of the weekend.”