MIDEAST STOCKS-Qatar soars as QNB to lift ownership ceiling, Saudi also strong

MIDEAST STOCKS-Qatar soars as QNB to lift ownership ceiling, Saudi also strong:

"Qatar’s stock market soared on Monday after Qatar National Bank said it would raise its ceiling for foreign ownership, while expectations for more inflows of foreign money lifted Saudi Arabia.

The Qatari stock index added 5.0 percent, its biggest leap since January 2016, in its heaviest trade this year as QNB, the Middle East’s biggest bank, rocketed its 10 percent daily limit.

QNB, in which the government is by far the biggest shareholder, said it would recommend to shareholders increasing its non-Qatari ownership ceiling to 49 percent of capital from 25 percent."



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