Kuwait Finance House (KFIN.KW) hit a two-year high on Monday as some traders bet the Islamic lender may announce a capital increase priced at a big discount to its current share price and other local banks also advanced.
KFH rose 1.6 percent to its highest close since Dec. 24, 2008.
"Many people expect KFH to make a capital increase and that this will be cheap," said Essa al-Hassawi, assistant manager at Zumorroda Investment Co in Kuwait.
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