Sunday 31 May 2015

MIDEAST STOCKS-Qatar rebounds as World Cup fears ease; other markets weak | Reuters

MIDEAST STOCKS-Qatar rebounds as World Cup fears ease; other markets weak | Reuters:



"Qatar's stock market rebounded on Sunday after dropping at the end of last week on MSCI index adjustments and news of arrests and criminal probes at world soccer body FIFA. Other markets in the Middle East were mostly negative.



The Qatari World Cup organising committee defended its successful 2022 World Cup bid on Friday and FIFA President Sepp Blatter secured re-election for a fifth term, partially easing concern that Doha might conceivably lose the tournament hosting rights.



Qatar's stock index, which had lost 4.1 percent in respone to the FIFA news last week, climbed 1.2 percent on Sunday. Petrochemicals giant Industries Qatar jumped 2.3 percent, also supported by oil's 5 percent surge on Friday."



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