Middle EastMIDEAST STOCKS Qatar falls on broad-based losses; Abu Dhabi gains
Ateeq Shariff
3 minute read
Broad-based losses pulled Qatari shares lower on Monday, with all stocks on the index except one in negative territory, while the Abu Dhabi index was buoyed by its top lender.
The Qatari benchmark (.QSI) retreated 1.3%, falling for a fourth consecutive session. Petrochemical maker Industries Qatar (IQCD.QA) slid 3.8%, the biggest decline on the index. Qatar is still facing lockdowns and slower vaccination rates than other countries in the region. Moreover, industrials are finding high raw material prices and supply disruptions adding pressure to their business models, said Daniel Takieddine, head of sales at FXPRIMUS.
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