Qatar Stocks Gain on Bets Two-Week Drop Overdone; Dubai Climbs - Bloomberg

Qatar Stocks Gain on Bets Two-Week Drop Overdone; Dubai Climbs - Bloomberg:

"Qatar’s benchmark index rose the most in three weeks on investor speculation declines in the past two weeks were overdone. Dubai shares also advanced.
The QE Index (DSM) climbed 0.8 percent, headed for the biggest gain since Aug. 19, to 9,274.78 at 11:37 a.m. in Doha. The measure lost 9 percent in the previous two weeks. All but one of the 20 companies in the gauge increased today, with meat processor Qatar Meat & Livestock Co. rising 1.2 percent. Telephone operator Ooredoo QSC was poised for the biggest surge since Aug. 14. Dubai’s DFM General Index gained 0.9 percent after tumbling 7.4 percent last week.
Declines in the past weeks, triggered by concern the U.S. would take military action against Syria after the government’s alleged use of chemical weapons, had left Qatar’s benchmark at a price-to-book value of 1.6 on Sept. 5, the lowest since May 16. The Standard & Poor (SPX)’s Index erased almost all its gains Aug. 6 amid an escalation in tension over Syria."

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