|09-30-2014, 01:55 PM||#1|
Qatar Exchange pressured by growth data, Ezdan Holding in focus
Trading on Qatar’s main stock exchange was mixed Tuesday, with focus on property developer Ezdan Holding Group, which rose 7% ahead of its enlistment in the main benchmark on Wednesday.
Commenting on Ezdan’s milestone when the Qatar Exchange announced the inclusion, Ali Al Obaidli, Group CEO said ‘this is a new achievement added to Ezdan Holding Group’s proud record of accomplishments.”
The Qatar’s Exchange decision to include the group reflects the outstanding performance of the group and its share in the local bourse.
Ezdan Holding has showed a massive record of its financial indicators over the past 2 years, with better-than-market price-to-earnings and book-to-market ratios, and a massive turnover rate that saw Ezdan record the highest trading in the local bourse.
Shares in Ezdan Holding were last up 7.3%.
Investors also weighed a contraction of Qatar`s economic growth in the second quarter. Qatari stocks reversed early gains after data showed the economy shrank by 0.2% in the second quarter.
By 09:20 GMT, the Qatar EX index was down 0.72%.
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