Qatar Shares Rise, End 6-Day Drop, as Oil Advances - BusinessWeek

Qatar shares advanced, ending a six- day drop and leading Gulf markets higher, as Asian stocks increased and crude oil gained. Industries Qatar climbed the most in almost a month.

The QE Index rose 1 percent, the most since June 21, to 6,832.23 at 12:13 p.m. in Doha. Industries Qatar, the second- biggest petrochemicals maker in the Middle East, climbed 1.2 percent and Qatar National Bank SAQ increased 1.8 percent ahead of earnings tomorrow. The Bloomberg GCC 200 Index rose 0.7 percent, led by petrochemical and energy companies. Dubai’s Index rose 0.2 percent, paring the drop for the year to 18 percent.

Emerging-market stocks advanced for a second day, led by technology companies, on speculation consumer spending will withstand a slowing global economic recovery. The MSCI Emerging Markets Index climbed 0.2 percent. Asian stocks rose, following the MSCI Asia Pacific Index’s biggest weekly drop in more than a month, amid takeover news in Australia and as a weaker yen boosted the outlook for Japan’s exporters.