Most Gulf bourses fell ahead of the weekend as investors, eyeing a string of on target earnings results, booked recent gains while Egyptian investment bank EFG Hermes surged after a report it had finalized talks to sell a stake to Qatar’s QInvest.
Qatar’s benchmark rose as Qatar Telecom supported the benchmark with a 4.5 percent gain. Investors picked up the stock after the firm said it would increase capital through issuing new shares.
It will give two new shares for every five held to existing shareholders, it said in a bourse statement.
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