Qatar Shares Lead Gulf Markets Lower on Earnings, China Risk; QIB Falls - Bloomberg

Qatar shares declined the most in more than a week, leading a drop in the Gulf, on concern second- quarter earnings may fall and as China reaffirmed a commitment to curb lending.

Qatar’s QE Index slipped 0.9 percent, the most since July 4, to 6,955.42 at 11:47 a.m. in Doha. Industries Qatar, the second-biggest petrochemicals maker in the Middle East, retreated 1.7 percent and Qatar Islamic Bank fell the most in almost two weeks. The Bloomberg GCC 200 Index of stocks in the region dropped for a second day, declining 0.4 percent.

“Investors are awaiting second-quarter results of big companies,” said Mohammed Ali Yasin, chief executive officer at Shuaa Securities LLC in Abu Dhabi. “Day traders are anticipating and moving with the global markets.”