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Wednesday, 17 August 2016

MIDEAST STOCKS-Qatar flat, Gulf weak as oil, global markets retreat | Reuters

MIDEAST STOCKS-Qatar flat, Gulf weak as oil, global markets retreat | Reuters:

"Qatar's main stock index moved little in early trade on Wednesday but other bourses in the Gulf edged lower as oil and global equities retreated.

Doha's index was flat after it rose 2.2 percent on Tuesday on expectations of fund inflows when index compiler FTSE promotes it to emerging market status next month. Qatar Insurance gained a further 3.9 percent after rising 3.5 percent on the previous day on hopes it will be included in FTSE's emerging market index.

Qatar National Bank, which had surged 6.7 percent on Tuesday, pulled back 0.3 percent to 168.00 riyals. Shares in the most valuable lender in the Gulf by market value are now at a 5.9 percent premium to the mean fair value of 10 analysts polled by Reuters."



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