MIDEAST STOCKS-Qatar touches 8-year high, Ahli United Bank boosts Bahrain | Reuters

MIDEAST STOCKS-Qatar touches 8-year high, Ahli United Bank boosts Bahrain | Reuters:



"* Qatar index stops at major chart barrier on 2008 peak



* Rumours of potential large investments lift Islamic banks



* Dubai, Abu Dhabi rise but remain below this month's peaks



* Ahli United Bank lifts Bahrain's bourse on merger talk



* Saudi's Dar Al Arkan gains after Q1 results beat estimates



By Olzhas Auyezov

DUBAI, April 17 (Reuters) - Qatar's bourse continued to outperform the region on Thursday but failed to break through major technical resistance. Ahli United Bank lifted Bahrain's stock market on news it might be sold or merge.



The Doha bourse closed up 0.8 percent at 12,551 points, retreating from an intra-day peak of 12,679 points, the highest level since September 2005. It faces chart resistance at 12,637 points, its 2008 peak. 




Islamic lenders contributed most to the increase: Masraf Al Rayan rose 5.8 percent, Qatar International Islamic Bank added 3.1 percent and Qatar Islamic Bank (QIB) gained 2.7 percent.



The shares rose on speculation that Ezdan Holding Group might look to buy stakes in more sharia-compliant businesses, a fund manager investing in Qatar said."



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