Qatar’s share market outperforms Gulf peers, Abu Dhabi index rose closer to peak
(MENAFN) Qatar’s share market overshadowed Gulf peers on Wednesday after increasing natural gas costs, whereas the Abu Dhabi index rose closer to a record ending peak set on August 11.
US natural gas futures jumped around three percent to a 14-year peak on Wednesday, on a decline in day-to-day production, hotter than regular weather on the West Coast as well as in Texas, and near-peak worldwide prices.
The Qatari main index soared 1.8 percent, with most of the shares in the index in green territory such as Qatar Islamic Bank, which climbed 3.8 percent.
Ahmed Fouad, chief of sales at Emporium Capital stated that the Qatari share market remains to find backing after rising natural gas costs, for which request is still high because of high temperatures this summer.
In Abu Dhabi, the index closed 0.7 percent higher, rising closer to last Thursday’s peak, led by corporation International Holding Company (IHC).
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