Qatar’s Shares Drop Most in Three Weeks on Europe Ratings Risk
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Qatar’s benchmark stock index declined the most in more than three weeks as emerging-market stocks fell after Fitch Ratings joined Moody’s Investors Service in warning that Europe faces lower credit ratings.
Industries Qatar QSC, the Middle East’s second-biggest petrochemicals company, dropped to the lowest level this month. Qatar Telecom QSC, the country’s biggest company by revenue, retreated a second time this week. Qatar’s QE Index dropped 0.4 percent, the most since Nov. 21, to 8,763.78 at the 1 p.m. close in Doha. Saudi Arabia’s Tadawul All Share Index sank 1.3 percent, the steepest drop since Oct. 3, as trading volumes climbed to the highest since March.