A positive third-quarter performance by Qatari companies lifted the Doha benchmark higher on Tuesday.
The Qatar Exchange Index added 0.84 per cent to 3,315.94 points on the back of increases in Doha Bank, which gained 2.38 per cent to 57.90 Qatari riyals. The bank’s profit rose 10 per cent in the first nine months of the year. Net income came in at 1.1 billion riyals in the year-to-September 30, from 1bn riyals a year earlier.
Shares of the Islamic lender Masraf Al Rayan were up 1.99 per cent at 51.2 riyals. The bank reported a 22.6 per cent rise in net profit for the third quarter on Monday, broadly in line with forecasts.
Qatar Islamic Bank rose 0.73 per cent to Dh82.60 riyals, having reported a 17 per cent rise in third-quarter net profit on Monday that was roughly in line with estimates.
Shares in the capital rose with FGB leading the way. FGB gained 2.4 per cent to Dh17.10, with the broader Abu Dhabi Securities Market General Index climbing 1.1 per cent to 4,771.29.
Shares in the investment firm Waha Capital jumped 2.71 per cent after the Securities and Commodities Authority gave its approval to the buyback of up to 10 per cent of its outstanding shares.
The Dubai Financial Market General Index, which opened lower at the bell, eventually ended in positive territory. The index rose 1.47 per cent to close at 4,441.88, with shares of Dubai Islamic Bank leading the way with gains of 3.57 per cent to Dh7.25
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