Qatar's shares advanced for a second day as United Development Co's profit jumped six-fold and after the US Federal Reserve took steps to boost economic growth. Oil rose in New York.
United Development, a Qatari company that invests in infrastructure and energy, surged to the highest in almost a month. Masraf Al Rayan, a Qatari lender, climbed 1.5 per cent. Qatar's QE Index added 0.2 per cent to 8,434.70 at the 1pm close in Doha, trimming its drop for the week to 0.3 per cent. The Bloomberg GCC 200 Index gained 0.3 per cent.
"Qatar is trading on a positive note following positive performance from international markets and improved earnings at United Development," said Samer Darwiche, a Dubai- based analyst at Gulfmena Investments.
The MSCI Emerging Markets Index roseas much as 1.6 per cent in Dubai.