Qatar Shares Rise, End 4 Days of Drops, as Banks Beat Estimates

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Qatar shares advanced for the first time in a week after quarterly earnings at Commercial Bank of Qatar QSC and Doha Bank QSC beat analyst estimates. Kuwait’s measure dropped for a second day.

Commercial Bank of Qatar, the country’s second-largest bank, rose the most since April 12, while Doha Bank gained the most in almost a month. Qatar National Bank SAQ, the company with the highest weighting on the nation’s benchmark index, advanced for the first time in four days. The DSM 20 Index increased rose 0.7 percent to close at 7,549.55.

“Commercial Bank of Qatar and Doha Bank in particular had good earnings,” said Ali Khan, head of cash-equity trading at Dubai-based Arqaam Capital Ltd. “They are the market’s most liquid names and tend to determine a direction for the market.”