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Qatar bourse shaves 10,100 points, lenders advance

The QE 20 Index closed 0.44% higher at 10,109.50 points on Thursday, a near 5-year high. Banks were once again on the top of the buying list, with Qaatar Islamic, CBQ and International Islamic Bank advancing 2.36%, 0.43% and 4.56%, respectively. Zad Holding Co. declined by 1.78% to QR66.40. Doha Bank added 0.18% to reach QR55.90. Earlier in the day, the lender announced that its wholly owned subsidiary, Doha Bank Assurance Company LLC (DBAC), has been affirmed Counterparty Credit and Insurer Financial Strength Rating of BBB with a Stable Outlook, by Standard and Poor's (S&P). Dr. Raghavan Seetharaman, Doha Bank Group CEO said, "We are very pleased that S&P continues to recognize the performance of Doha Bank Assurance Company and its unchanged rating constitutes an independent assessment and encouragement of our ongoing progress."