Qatari Stocks Extend Rout to Three Days as World Cup Woes Mount - Bloomberg

Qatari Stocks Extend Rout to Three Days as World Cup Woes Mount - Bloomberg:



"Qatar’s shares fell for a third day and bonds dropped on concern the Persian Gulf nation may lose the right to host the 2022 soccer World Cup, potentially jeopardizing some of its $200 billion investment plans.



The benchmark QE Index (DSM) slid 0.6 percent to close at 13,142.69, the lowest since May 22. The yield on the benchmark 5.25 percent government bond due in January 2020 gained two basis points, or 0.02 of a percentage point, to 2.43 percent at 3:41 p.m. in Doha, data compiled by Bloomberg show.



Qatari stocks, among the world’s best performers this year, have lost 4.1 percent in the past three days after Britain’s Sunday Times reported that payments were made to soccer officials in return for allowing the Arab country to host the tournament. Rashid al Mansoori, chief executive officer of the Qatar Exchange, said in an interview today the nation won the bid with “credibility” and corruption allegations were “noise.”"



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