QSE benchmark index jumps on historic Opec announcement day - The Peninsula Qatar:
Qatar’s stock market rose sharply yesterday, the day the country made the surprise announcement to quit from the Organization of the Petroleum Exporting Countries (Opec). The world’s largest liquefied natural gas exporter announced that it would be focusing more on gas.
The QSE benchmark index rose 1.30 percent or 134.37, supported by banks and industrials. Oil prices jumped by more than 5 percent yesterday after the US and China agreed to a 90-day truce in a trade dispute, and ahead of a meeting this week of Opec that is expected to cut supply.
The banking sector rose 1.55 percent with Commercial Bank rising the most by 2.20 percent. QNB gained 1.77 percent as QIB and QIIB added 1.80 percent and 1.56 percent, respectively. Bellwether Industries Qatar (IQ) advanced 1.92 percent. Telecom giant Ooredoo gained 1.81 percent.
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