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Thu 17 Sep 2009 09:35 AM

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Dubai, Abu Dhabi, Qatar markets close higher

UPDATE 6: Kuwait ends higher for a third trading day led by Zain which climbs 1.6%.


Dubai Financial Market

surged 10.5 percent to lead the emirate's index DFM 2.1 percent higher to 2,127 points.

Abu Dhabi's
Sorouh Real Estate

ended 8.1 percent higher after it confirmed its chief executive has resigned.

Abu Dhabi's benchmark ADI closed 1.6 percent higher at 3,100 points.

Kuwait ended higher for a third trading day led by Zain which climbed 1.6 percent.

The country's benchmark KWSE was up 0.8 percent at 7,800 points.

Industries Qatar

rallied to end 8.6 percent higher, its biggest one-day rise since March, as Qatari shares are boosted by strength in international stock markets and bouyant oil prices.

Qatar's benchmark QSI jumped 2.7 percent to 7,297 points, its largest one-day advance since July.

Bank Muscat

ended 5.5 percent higher leading Oman's benchmark MSI to fresh 10-month highs.

Bank Muscat

surged after a report that the owner of Saad Group reached a settlement over debt to local Saudi banks, boosting hopes that other banks may get repaid as well.

Bank Muscat

said in June its exposure to Saudi Arabia's troubled Saad Group and Ahmad Hamad Algosaibi Group totalled $171m.

The country's index rose 0.8 percent to 6,653 points.

Zain

advanced 1.6 percent as the country's index KWSE edged 0.1 percent higher to 7,744 points.

Bahrain's bourse BAX also rose 0.1 percent to 1,532 points. (Reuters)

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