"Qatar National Bank SAQ rose the most in more than a week after the Arab world’s biggest lender reported a better-than-expected climb in second-quarter profit.
Shares of the bank known as QNB rose 1.3 percent, the most since July 1, to 161.5 riyals at 1:03 p.m. in Doha, taking the three-day advance to 1.8 percent. The stock was the second-biggest gainer among 20 shares trading on the benchmark QE Index (DSM), which increased 0.9 percent.
QNB’s quarterly net income jumped 23 percent to 2.6 billion riyals ($714 million), compared with the 2.35 billion-riyal average estimate of six analysts compiled by Bloomberg. MSCI Inc. (MSCI), which last month upgraded Qatar to emerging-market status, gave QNB a provisional weighting of 21.7 percent on the MSCI Qatar Index, the index provider said in an e-mail yesterday."
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