MIDEAST STOCKS-Qatar leads Gulf down in quiet trade, QNB retreats from high | Reuters

MIDEAST STOCKS-Qatar leads Gulf down in quiet trade, QNB retreats from high | Reuters:

"Gulf stock markets mostly dropped on Wednesday in modest volumes, led by Qatar, where top lender Qatar National Bank (QNB) and several other blue-chips fell sharply on profit-taking. Qatar’s index lost 2.3 percent as Qatar Islamic Bank (QIB) fell 4.7 percent in heavy trade; its unit QInvest reported first-quarter net profit of 1.7 million riyals, down from 15 million riyals a year ago. QNB, which had on Tuesday surged to its highest level since December 2014, fell back 2.1 percent in heavy volume. Qatar Electricity and Water declined 4.1 percent and heavyweight Industries Qatar ended 3.9 percent lower."



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