MIDEAST STOCKS-Qatar hits 6-year high, most Gulf markets edge up | Reuters

MIDEAST STOCKS-Qatar hits 6-year high, most Gulf markets edge up | Reuters:



"* Qatar index approaching major chart barrier on 2008 peak



* Vodafone Qatar jumps 10 pct daily limit



* Dubai, Abu Dhabi rise but Dubai's turnover weak



* Saudi's Sahara Petrochemical slides after Q1 earnings



* Egypt's Pioneers Holding soars before earnings report



By Olzhas Auyezov

DUBAI, April 16 (Reuters) - Qatar's bourse led gains in the Gulf on Wednesday, followed by markets in the United Arab Emirates, although trading in Dubai was thin. Weak earnings from petrochemicals weighed on Saudi Arabia.



The main Qatar index rose 1.1 percent to 12,454 points, its highest close since June 2008, although it stayed below this month's intra-day peak of 12,466 points. It is nearing major chart resistance at 12,637 points, its 2008 peak, a logical place for its uptrend to pause.



Vodafone Qatar surged its daily limit of 10 percent in heavy trade to a fresh record high of 15.41 riyals. On Sunday the company appointed a new chief business officer and a new chief technology officer from the UAE's du and Pakistan's Mobilink.



Islamic lenders Masraf al Rayan and Qatar Islamic Bank contributed most to the index's increase, adding 3.1 percent and 4.7 percent respectively."



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