Qatar’s Shares Rise a Second Day on Salary, Pension Increases; Oil Gains - Bloomberg

Qatar’s benchmark stock index rose for a second day after the Persian Gulf country issued a decree to raise salaries and pensions for its nationals. Oil advanced.

Qatar National Bank SAQ (QNBK), the nation’s biggest lender by assets, climbed 1 percent. Doha Bank QSC (DHBK), the fourth-biggest bank by assets, gained the most since Aug. 17. The QE Index (DSM) increased 0.6 percent, the most since Sept. 4, to 8,393.06 at 11:20 p.m. in Doha. The Bloomberg GCC 200 Index (BGCC200) of regional shares advanced 0.7 percent.

The move “will definitely boost sentiment in Qatar,” said Ahmed Talhaoui, head of asset management at Abu Dhabi-based Royal Capital PJSC. “These increases are massive and it could set a precedent” for the rest of the region, he said.

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