MIDEAST STOCKS-Banks lift UAE, Qatar mkts; Saudi Arabia retreats | Reuters:
"Banking stocks helped Qatar close at a fresh all-time high on Monday and lifted the markets in the United Arab Emirates and Bahrain, while Saudi Arabia pulled back after two days of strong gains.
The Doha benchmark gained 1.0 percent and closed at 12,988 points, above previous closing high of 12,940 hit last month. It may face resistance at the psychologically important 13,000 point level or the historical intra-day high of 13,069 points reached in 2005.
"Once the market breaks that, we may see some more upside," said Shakeel Sarwar, head of asset management at Securities & Investment Co (SICO) in Bahrain.
Qatar National Bank was the main support, gaining 1.8 percent. Among other contributors were Industries Qatar , up 1.7 percent, and Qatari Investors Group, which rose 6.4 percent.
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