Qatar's Stocks Set for Best Week Since Spat Began

13/07/2017 13:35 AST

Qatar’s main stock benchmark is set for its best weekly performance in almost 18 months amid expectations that a dispute with its neighbors is drawing closer to an end, and after the country’s biggest bank delivered earnings that pleased the market.

The index gained 2.1 percent as of 11:16 a.m. in Doha, bringing its weekly advance to 6.2 percent, the most since January 2016, with Qatar National Bank QPSC contributing most to gains. U.S. Secretary of State Rex Tillerson was set to visit the Qatari capital on Thursday for the second time this week as he seeks to broker a solution to the worst political crisis among Gulf Arab monarchies.

The index is approaching the level it traded at before a group of countries led by Saudi Arabia severed commercial and diplomatic ties with Qatar last month.

Below are the views on Qatari equities of Rami Jamal, a portfolio manager at Amwal LLC in Doha, which oversees around 1 billion riyals ($270 million) in assets, including the Qatar Gate Fund, which outperformed equity fund peers in the past year.


Bloomberg

Most Viewed Companies

Ticker Price Volume
JARIR 177.89 111,251
RIBL 13.83 1,519,548
SABIC 114.77 5,915,941

Stock Market Info

QE 8,707.67 -14.08 (-0.16%)

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QNBK 134.50 0.61 (0.45%)
IQCD 108.99 0.99 (0.91%)
ERES 10.25 -0.28 (-2.66%)
MARK 35.99 -0.11 (-0.31%)
ORDS 82.51 -1.09 (-1.31%)

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