Earnings optimism aids Qatar market

17/07/2014 07:48 AST

Dubai’s bourse continued to lead the region up yesterday, even though builder Arabtec slowed its advance, while Nakilat in Qatar jumped on strong second-quarter results. The Dubai index added 1.9 percent.

Qatar’s benchmark rose 0.6 percent. Nakilat, one of the world’s largest shippers of liquefied natural gas, was among the main supports, jumping 3.7 percent after posting a 31 percent increase in second-quarter net profit. Islamic lender Masraf Al Rayan rose 1.1 percent after it said it had sold a stake in a local real estate firm to a state fund for QR1.53bn which would generate a gain of QR466m for the bank spread over three years. Shares in Doha Bank jumped 4.2 percent as investors bet on a positive surprise from its second-quarter financial report. 


Reuters

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