Qatar Shares Surge to 2-Year High on Winning World Cup 2022 Bid
This article is for subscribers only.
Qatar’s shares rose to the highest in two years after the country won rights to host soccer’s 2022 World Cup, becoming the first Arab nation to hold the world’s most-watched sporting event.
Qatar National Bank, the emirate’s biggest lender by assets, climbed to the highest in more than five years. Barwa Real Estate Co., Qatar’s largest publicly traded property developer by assets, gained 6.2 percent. The QE Index advanced 3.6 percent to 8,477.32 at the 12:30 p.m. close in Doha, the highest since October 2008. The Bloomberg GCC 200 Index increased 0.7 percent and Egypt’s EGX 30 Index rose 1.1 percent.