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Qatar Exchange index falls amid possible W-formation
- Qatar: Tuesday, December 11 - 2012 at 17:18
The QE 20 Index declined 0.10% to 8,333.99 points mainly due to losses in the baning segment. From a chart-technical view, the gauge might fulfill a W-formation which usually indicates a mid-term turnaround. Shares of Al Ahli Bank dived 4.36%, while Qatar National Bank bucked the trend, closing 0.10% higher. Earlier in the day, Sjoerd Leenart, CEO MENA region at U. S. investment bank J. P. Morgan said at the ongoing Euromoney Qatar conference in Doha that the ongoing turmoil in Egypt, Syria and Iraq was curtailing banking growth in the entire region.
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Gérard Al-Fil, Financial JournalistTuesday, December 11 - 2012 at 17:18 UAE local time (GMT+4)
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