Qatar Shares Surge to the bid two years World Cup winner

Qatar shares climbed to the highest in two years after the country won the rights to host the football World Cup 2022, becoming the first Arab country to the world's most-watched sporting events.

Qatar National Bank, the emirate's largest lender by assets, climbed to its highest in more than five years. Barwa Real Estate Co., Qatar's largest developer, publicly traded property assets, gained 6.2 percent. QE Index advanced 3.6 percent to close at 8477.32 at 24:30 in Doha, the highest since October 2008.
"The mood is understandable that high-flying," said Akber Khan, director of Al Rayan Investment in Doha. "There will be a major impact on some companies as the government fast-track billions of dollars in spending. Banks, real estate and construction-related names will be among the main beneficiaries."

Qatar, designed by the International Monetary Fund that the fastest growing economy in the world this year, plans to more than double the number of hotel rooms, build new stadiums and refurbish three others and build a metro rail network for tournament. U.S. estimated that the tournament is worth $ 5 billion for the hosts.

Shares valued at about 1.2 billion riyals ($ 330 million) traded in Qatar today, the highest since June 2008. Qatar National Bank rose 4.5 percent to 183.6 riyals, the highest since September 2005. Barwa Real Estate Co. rose to 36 rials, the highest since October 2009.

Air conditioning Stadium

The country plans to spend $ 4 billion in stadium construction and renovation. With summer temperatures nearly 50 degrees Celsius (122 Fahrenheit), each facility will be designed with an air conditioning system with solar energy. A new city of 200,000 people called Lusail, north of the capital, is scheduled to be built in the next decade and the stadium will host the World Cup final.

Qatar hopes to build a metro rail network, which costs more than $ 25 billion in Doha and extends to cities outside the capital. It is also planning the world's longest bridge to connect to the nearby island kingdom of Bahrain, and aims to open a new airport next year.

Orascom Construction Industries rose 3.2 percent, the highest since May, on speculation the company based in Cairo can get World Cup contracts. "It is ready for more profits tomorrow as investors expect the company to be awarded more contracts in Qatar," said Ashraf Akhnoukh, senior equity trader for sale in Cairo-based International Trade Co. Bag

Australia

soccer's governing body, the International Federation of Association Football, or FIFA, announced that Qatar won the bid for the World Cup in Zurich on December 2 after competing with the U.S., Australia, Japan and South Korea . Russia was chosen to host the 2018 tournament.

Industries Qatar, the manufacturer of petrochemicals second largest in the Middle East, rose 4.3 percent to 135 riyals.

Crude oil rose to its highest level in 25 months, with oil for January delivery stood at $ 89.19 a barrel on the New York Mercantile Exchange on 3 December. Futures rose 6.5 percent last week and 12 percent this year. The six Gulf nations like Saudi Arabia and the UAE, supplying a fifth of the world's oil.

Regional movements

Bahrain Share Index gained 0.3 percent, Kuwait indicator rose 0.7 percent and Oman MSM30 Index advanced 0.5 percent. Saudi Arabia's Tadawul All Share Index retreated 0.3 percent after gaining 1.2 percent yesterday. UAE markets are closed today for an Islamic holiday.

The TA-25 rose 1.2 percent at 3:09 pm in Tel Aviv as Perrigo Inc. rose 4.3 percent to 233.2 shekels after the manufacturer of OTC pharmaceutical products, was described as "buy" in new coverage at UBS AG.

Israel bonds fell, with the yield of 5 percent bonds due in January 2020 Shiklit Mimshal increased 1 basis point to 4.65 percent, the highest since July 15.