"Qatar’s benchmark stock index soared to the highest in more than four years on investor optimism the shares are catching up with its Gulf Cooperation Council peers as valuations are seen as increasingly attractive.
Barwa Real Estate Co., Qatar’s biggest publicly traded property developer by assets, climbed the most in 18 months. Oil and gas services company Gulf International Services QSC snapped a five-day losing streak and gained the most since May 30. Qatar’s QE Index (DFMGI) advanced 0.5 percent to 9,335.21, the highest close since September 2008.
Shares on Qatar’s benchmark trade at an average price-to-book value of 1.67 times, compared with 1.99 for Saudi Arabia’s gauge. The index (SASEIDX) trades at less than 12 times earnings and at “a very strong” dividend yield of 5 percent, according to Bobby Sarkar, head of research at Qatar National Bank Financial Services."
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