Gulf Shares Gain, Led by Bahrain, on Oil and Bank Stake Sale

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Gulf Stocks rose, led by Bahrain and Abu Dhabi, as crude oil traded near a 17-month high and Al Tamdeen Investment Co. planned to sell a stake in Ahli United Bank.

Ahli United, Bahrain’s largest lender, surged to the highest level in more than a year. Al Tamdeen Real Estate Co., which owns a majority in Al Tamdeen Investment, increased to the highest in five months as it said it will make a profit of 50.3 million dinars ($174 million) from the sale. Emirates Telecommunications Corp. gained 1 percent. Bahrain’s All Share Index climbed 1.3 percent to 1,594.96, the highest close in six months. Abu Dhabi’s ADX General Index advanced 0.4 percent.

Crude oil rose 2.1 percent yesterday and traded at $86.64 a barrel at 3:13 p.m. in Dubai. U.S. service industries expanded in March at the fastest pace since May 2006, indicating the country’s recovery may be spreading beyond manufacturing and starting to create jobs. The U.S. is the world’s largest energy consumer.