Qatar Shares Rise on MSCI Optimism; Tamweel Plunges on Restart
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Qatar shares rose the most in more than a month, led by Qatar National Bank SAQ, on speculation index provider MSCI Inc. may upgrade the Persian Gulf nation to emerging market.
Qatar National Bank climbed to the highest since January as its 12.7 billion-riyal ($3.5 billion) rights offer was fully subscribed. Doha Bank, the country’s fourth-biggest lender by assets, advanced 3 percent. The QE Index surged 1.4 percent, the most since March 20, to 8,665.42, at the 1:15 p.m. close in Doha. The DFM General Index advanced 1.2 percent. Tamweel PJSC, the Dubai-based home finance company plunged 10 percent on its first trading day in more than two years.