Qatar’s shares headed for the highest close in more than a week, led by Doha Bank QSC (DHBK), after improved U.S. economic data boosted investor appetite for riskier assets and as crude oil advanced for a third day.
Doha Bank, Qatar’s fifth-largest lender by market value, rose a second day and Industries Qatar QSC (IQCD), the Middle East’s second-biggest petrochemicals company, increased as much as 0.8 percent. Qatar’s QE Index (DSM) added 0.2 percent to 8,800.26 at 10:59 a.m. in Doha, headed for the highest close since Dec. 11. The measure has gained 1.4 percent this year. The Bloomberg GCC 200 Index (BGCC200), down 10 percent in 2011, decreased 0.2 percent.
“The housing start figures from the U.S. came in surprisingly strong with the retail sales also positive,” boosting investor sentiment, said Nabil Farhat, a partner at Abu Dhabi-based Al Fajer Securities. “Qatar will have a positive 2012 because the monetary policy and the government fiscal policies are expansionary, and that is why the stock market is the best performing in the Gulf Cooperation Council.”
Doha Bank, Qatar’s fifth-largest lender by market value, rose a second day and Industries Qatar QSC (IQCD), the Middle East’s second-biggest petrochemicals company, increased as much as 0.8 percent. Qatar’s QE Index (DSM) added 0.2 percent to 8,800.26 at 10:59 a.m. in Doha, headed for the highest close since Dec. 11. The measure has gained 1.4 percent this year. The Bloomberg GCC 200 Index (BGCC200), down 10 percent in 2011, decreased 0.2 percent.
“The housing start figures from the U.S. came in surprisingly strong with the retail sales also positive,” boosting investor sentiment, said Nabil Farhat, a partner at Abu Dhabi-based Al Fajer Securities. “Qatar will have a positive 2012 because the monetary policy and the government fiscal policies are expansionary, and that is why the stock market is the best performing in the Gulf Cooperation Council.”
No comments:
Post a Comment