Qatar’s stocks rose for a second day, led by Qatar National Bank SAQ, as oil traded near the highest in more than three months and global shares rallied amid optimism Europe will be able to contain its debt crisis.
Qatar National Bank, the Persian Gulf country’s biggest bank by assets, gained 0.5 percent. Qatar Islamic Bank SAQ, the nation’s biggest Shariah-compliant lender, headed for the highest close in almost six months. The QE Index climbed 0.1 percent to 8,752.45 at 11:17 a.m. in Doha, headed for the highest close since May 11.
Local shares are “waiting for signals from international markets and oil prices to support current levels,” said Samer Darwiche, an analyst at Gulfmena Investments in Dubai.
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