Qatar’s Stocks Retreat on Speculation Gains Overdone, Oil
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Qatar’s benchmark stock index declined for the first time in three days on speculation a gain this week prompted by a decision to raise salaries and pensions for nationals was overdone.
Qatar National Bank SAQ, the Persian Gulf country’s biggest lender by assets, retreated 1 percent. Commercial Bank of Qatar QSC fell a second time this week. The QE Index decreased 0.4 percent, the most since Sept. 5, to 8,366.39 at the 1 p.m. close in Doha, trimming the gain for the week to 0.2 percent. The index advanced 1.1 percent the previous two trading days. The Bloomberg GCC 200 Index of regional shares climbed 0.1 percent.