Qatar’s benchmark stock index closed more than 7 per cent lower today after Saudi Arabia and regional Gulf allies announced plans to cut diplomatic and transport links with the tiny Gulf state over alleged terrorism links. The Doha share index fell 7.3 per cent after the decision to sever ties by a group of nations that also comprises Egypt, Bahrain and the United Arab Emirates. At one point earlier in the day it had fallen by 8 per cent before paring some of the losses by the end of trading. According to FactSet data, today’s stock market fall is fall the biggest drop since December 2014, when it shed 7.4 per cent amid a collapse in oil prices. Citizens of Qatar, the world’s biggest exporter…

Source: The Times June 05, 2017 11:03 UTC