EU preparing 'further countermeasures' to protect its interest, von der Leyen says    911 emergency centers handle over 2.8 million calls in March    Musk's X is suing India, as Tesla and Starlink plan entry    Tesla sales plunge after backlash against Elon Musk    Saudi Arabia posts SR49.8 billion travel surplus in 2024 as visitor spending hits SR153.6 billion    Saudi Arabia urges stronger global action to protect children in cyberspace at UN    Israel announces expansion of military operation in Gaza to seize 'large areas' of land    US cancels visa of Nobel Peace Prize winner Oscar Arias    Danish prime minister refutes US claim on Greenland on visit to the Arctic territory    Aubameyang fires Al Qadsiah into King's Cup final with stoppage-time winner over Al Raed    Cristiano Ronaldo joins Fatal Fury: City of the Wolves    Saudi Arabia welcomes trilateral border treaty between Tajikistan, Kyrgyzstan, and Uzbekistan    Swedish table tennis legend Jörgen Persson appointed head coach of Saudi national team    Danilo Pereira fires Al Ittihad into King's Cup final with dramatic stoppage-time double    Tebuk emir reviews rain response in Tayma    Saudi Arabia considers rent cap as part of major real estate reforms    Screen time in bed linked to insomnia, study finds    Mexico bans junk food in schools to fight childhood obesity epidemic    Sweet sales surge ahead of Eid as Saudi chocolate imports top 123 million kg in 2024    Saudi creatives shine at Jeddah's Fawanees Nights with art, fashion, and storytelling    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Qatar shares lead Gulf marts fall on earnings
Published in The Saudi Gazette on 14 - 07 - 2010

Qatar shares fell the most in more than a week, leading a decline in the Gulf, on concern second- quarter earnings may fall and as China reaffirmed a commitment to curb lending.
Qatar's QE Index slipped 0.8 percent, the most since July 4, to 6,959.34. Industries Qatar, the second-biggest petrochemicals maker in the Middle East, retreated 1.9 percent and Qatar Islamic Bank fell for the first time in seven days.
“Investors are awaiting second-quarter results of big companies,” said Mohammed Ali Yasin, chief executive officer at Shuaa Securities LLC in Abu Dhabi. “Day traders are anticipating and moving with the global markets.”
Companies from Gulf Arab nations started releasing earnings this month. Saudi Arabia's Tadawul All Share Index dropped as much as 0.9 on Monday after Saudi British Bank, the lender 40 percent owned by HSBC Holdings PLC, and Saudi Investment Bank posted a decline in second-quarter net income.
The MSCI Asia Pacific Index fell as much as 0.7 percent, the biggest intraday decline since July 7. China will “strictly” enforce housing policies, such as lending rules, to prevent speculative investment, the Ministry of Housing and Urban-Rural Development said today. Portugal had its credit rating cut two notches to A1 at Moody's Investors Service, which cited a growing debt burden and weak economic growth prospects.
Industries Qatar retreated the most since June 30 to 97.6 riyals. Qatar Islamic Bank, the Gulf state's biggest Shariah-compliant lender, dropped 1.1 percent, the most since June 29, to 73.9 riyals. The lender is expected to release earnings this week.
Abu Dhabi's gauge lost 0.4 percent, Oman's MSM 30 Index decreased 0.2 percent, while the Kuwait SE Price Index added 0.1 percent. Bahrain's gauge slipped less than 0.1 percent and Saudi's index was down by 0.03 percent to 6,216.67.
Dubai's DFM General Index gained 0.4 percent to the highest this month. Emaar Properties PJSC led the advance, rising 1.5 percent to AED3.30.
The Dubai-developer's second-quarter earnings are likely to “surprise on the upside” because of income from the handover of apartments at Burj Khalifa, the world's tallest tower in Dubai, Deutsche Bank AG said.
Meanwhile, Asian markets were mostly lower Tuesday as a tumble in Chinese stocks tempered optimism from US aluminum maker Alcoa's earnings.
The Shanghai Composite index retreated 1.8 percent to 2,459.65.
Japan's Nikkei 225 stock average was off 0.2 percent at 9,533.33 and South Korea's Kospi was little changed at 1,734.96.
Elsewhere, Australia's S&P/ASX 200 dropped 0.4 percent to 4,392.20 while markets in Singapore, Malaysia, Indonesia and Thailand rose.


Clic here to read the story from its source.