* RAKBank leads Abu Dhabi gains
* Banks lift Qatar
* Aramex outperforms flat Dubai market
* Global Telecom, Talaat Moustafa weigh on Egypt
By Olzhas Auyezov
DUBAI, May 8 Most Gulf bourses rose on Thursday
as banking stocks lifted Qatar and Abu Dhabi, but Dubai was flat
and Egypt extended declines.
Qatar's index climbed 0.5 percent to 12,961 points, once
again approaching the psychologically important 13,000 points
level from which it retreated earlier this week. Trading volume,
however, fell by a third compared with Wednesday.
Islamic lender Masraf Al Rayan, up 1.9 percent, was the main
support along with Qatar National Bank which added 1.1
Abu Dhabi's benchmark, which had retreated in the
last two sessions, also turned around and added 0.4 percent.
Trading volume rose by two-thirds.
RAKBank was the main support, rising 4.2 percent
after its shareholders approved a proposal to double foreign
ownership limit to 40 percent. Foreigners currently own 19.5
percent of the bank's shares, according to Thomson Reuters data.
Shares in investment company Waha Capital rose 7.3
percent ahead of a board meeting next week that will review its
first-quarter results. Abu Dhabi National Energy Company gained
Dubai's index ended flat as stocks were mixed and volume
fell by a third.
Logistics firm Aramex led gainers, jumping 4
percent to 3.37 dirhams. NBK Capital this week upgraded the
stock to "buy" from "hold" and raised its fair value estimate by
18 percent to 3.90 dirhams.
Emaar Properties was the main drag, shedding 1.0
percent. Builder Arabtec Holding slid 0.4 percent as
its shares no longer entitled their holders to bonus stock.
Egypt's bourse fell 1.5 percent. Among the main drags were
Global Telecom and Talaat Moustafa Group,
which slid 2.3 and 2.1 percent respectively. Both stocks posted
strong gains last month.
Shares in Sidi Kerir Petrochemicals dropped 9.9
percent after it reported a 28 percent drop in first-quarter
* The index was flat at 5,302 points.
* The index rose 0.4 percent to 5,047 points.
* The index climbed 0.5 percent to 12,961 points.
* The index rose 0.4 percent to 9,787 points.
* The index fell 1.5 percent to 8,211 points.
* The index slid 0.2 percent to 7,406 points.
* The index rose 0.1 percent to 1,471 points.
* The index climbed 0.7 percent to 6,825 points.
(Editing by Matt Smith)