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Wed 22 May 2013 05:00 PM

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Qatar hits fresh 28-month high; UAE markets mixed

Doha bourse advanced 0.5 percent to its highest since January 2011

Qatar hits fresh 28-month high; UAE markets mixed

Qatar's bourse climbed to a fresh 28-month high, recouping losses from the previous session, while UAE markets ended up mixed.

Doha's benchmark advanced 0.5 percent to finish at 9,086 points, its highest since January 2011.

Barwa Real Estate climbed 1 percent after a court reversed last year ruling that ordered Barwa's Sudan subsidiary and The Green City Company to pay $31 million in compensation for Dreamland Construction in Sudan.

Alijarah Holding (National Leasing) climbed a further 2 percent while large-caps also advanced.

Elsewhere, Dubai's benchmark gained 0.2 percent to finish at 2,323 points, giving back some early-session gains as investors booked some gains in UAE stocks. Abu Dhabi's index slipped 0.2 percent to 3,503 points, down for a third session since Monday's 54-month high.

Profit-taking also hit Kuwait's bluechips. The price index retreated 0.3 percent to 8,222, slipping off from a near four-year high.

Elsewhere, Saudi Arabia's bourse was steady, while Egypt's main benchmark climbed 0.4 percent to 5,426 points.