Qatar’s shares rose to the highest in two years, after the country won rights to host soccer’s 2022 World Cup, becoming the first Arab nation to hold the world’s most-watched sporting event.
Qatar National Bank, the emirate’s biggest lender by assets, climbed to the highest in more than five years. Barwa Real Estate Co., Qatar’s largest publicly traded property developer by assets, gained 6.2 percent. The QE Index rose 3.6 percent to 8477.32 at the 12:30 p.m. close in Doha, the highest since October 2008, after 19 shares advanced and one declined.
“Sentiment is understandably flying extremely high,” said Akber Khan, a director at Al Rayan Investment in Doha. “There will be a material impact on some companies as the government fast-tracks billions of dollars of spending. Banks, real estate and construction-related names would be among the key beneficiaries.”
No comments:
Post a Comment