Oman’s stock index led a decline in Gulf shares after European markets retreated last week as U.S. economic reports heightened investor concern the global recovery may be faltering. Qatar’s benchmark rose for a fifth day.
Al Anwar Holdings SAOG, the Omani investor in manufacturing companies, fell for a second day and Al-Hassan Engineering Co. lost the most in almost six weeks. Oman’s MSM30 Index dropped for the first time in four days, slipping 0.3 percent at the 1 p.m. close. Qatar’s QE Index increased 0.9 percent 7,179, the highest level since May 18. The Bloomberg GCC 200 Index gained 0.2 percent.
The shares “reacted to the closing prices of U.S. equities on Friday and oil prices,” said Mohamed Abu Ghoush, head of equity brokerage at Al-Ahli Bank in Doha. Gains in Qatar are being led by the index’s main components after they reported second-quarter earnings that were “above expectations,” he said.
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