Qatar’s Shares Retreat on Speculation Nine-Day Rally Overdone

Qatari shares retreated for the first time in 10 days on speculation recent gains were overdone given earnings and lower dividends at the Persian Gulf nation’s banks.

Commercial Bank of Qatar (CBQK), the country’s second-biggest lender, dropped the most in almost a week. Qatar National Bank SAQ, the country’s largest bank by assets, fell 1 percent.

The QE Index decreased 0.5 percent, the most since Jan. 19, to 8,687.38 at the 1 p.m. close in Doha.

The gauge advanced 4.1 percent in the nine days through yesterday.

KSE index touches six-month high

The Karachi Stock Exchange’s (KSE) benchmark index closed at six month high at 12,136.92 points with an increase of 154 points, on Monday, on significant buying in leading energy and banking stocks, said dealers.

“Apparently, foreign buying helped the market sustain well above the 12,000 points coveted level,” said Imtiaz Gadar, Head of Research at KASB Securities.

The benchmark KSE 100-share index increased by 154.30 points, or 1.30 percent, to six month high of 12,136.92. This is the highest closing level since August 2, 2011.

At a point of trading, the index had surged by 229.69 points to intra-day high of 12,212.31.

KSE likely to consolidate around 12,000 points

The Karachi Stock Exchange (KSE) is expected to consolidate around 12,000 points threshold next week ahead of full-year financial results, particularly of banks and likely increase in foreign portfolio investment, dealers said on Saturday.

“Financial results would help the market maintain in the green territory next week,” said Furqan Punjani, an analyst at BMA Capital, adding that the market may consolidate around 12,000 points with an increase of 50-100 points.

At present, the leading benchmark of the KSE, the 100 index, is 17.38 points away from 12,000 points coveted level and standing at 11,982.62 points.

Taiwan Bonds Drop a 3rd Day, Currency Rises on Optimism for Global Growth

Taiwan’s government bonds dropped for a third day and the local dollar strengthened after reports that showed better-than-forecast growth in U.S. jobs, fueling optimism the global economy is recovering.

The Taiex (TWSE) index of shares rallied 0.9 percent after overseas investors bought $1.1 billion more Taiwanese stocks than they sold in the last five days, taking net purchases for the year to $2.1 billion, according to exchange data.

The 243,000 increase in American payrolls was the most since April and exceeded all forecasts.

The unemployment rate of the world’s biggest economy dropped to 8.3 percent, the lowest since February 2009.

Asian Stocks Rise for Third Day on Global Outlook; Glitch Hits Tokyo Trade

Asian stocks advanced for a third day, with the regional benchmark index heading for its highest close in three months, as manufacturing gained in the U.S. and Europe, boosting confidence the global economy is recovering.

LG Electronics Inc. (066570), the world’s No. 3 maker of mobile phones, jumped 7.4 percent in Seoul.

Toyota Motor Corp., the world’s largest carmaker by market value, advanced 1.8 percent after car sales in the U.S. increased last month.

Lynas Corp. surged 19 percent in Sydney after the rare earths supplier won approval to start production in Malaysia.

U.S. Stock Futures Little Changed Before Data

U.S. stock-index futures were little changed, erasing earlier gains, before a report that may show initial claims for jobless benefits in the world’s largest economy fell.

Qualmish (QCOM) Inc., the world’s biggest maker of mobile-phone chips, climbed 4.8 percent in early New York trading after raising its sales and profit forecasts for this quarter and the year.

Las Vegas Sands Corp. (LVS) lost 0.7 percent even after profit excluding some items matched analyst estimates.

Standard & Poor’s 500 Index futures expiring in March slid less than 0.1 percent to 1,319.7 as of 11:18 a.m. in London, after earlier rising as much as 0.4 percent.

European Stocks Advance on Signs Manufacturing Growth is Gaining Traction

European (SXXP) stocks advanced for a second day, with the Stoxx Europe 600 Index extending its best start to a year since 1998, amid signals that manufacturing growth is gathering pace from America to China.

U.S. index futures climbed, while Asian shares were little changed.

Car makers and banks led gains.

ICAP Plc (IAP) jumped 6.6 percent after saying annual pretax profit will be at the “upper end” of the range of analysts’ estimates.

RWE AG (RWE) climbed after Morgan Stanley added the stock to its best ideas list.

Is Facebook a wise investment?

A report published by the Wall Street Journal Friday has touched off a flurry of speculation that Facebook could file IPO papers with the U.S. Securities and Exchange Commission as early as Wednesday.

In an interview with CTV’s Canada AM, IT and finance expert Dave Valliere says the timing of the sale begs the question: why now?

Valliere, who chairs the Ted Rogers School of Management Entrepreneurship and Strategy at Ryerson University in Toronto, says companies will often decide to go public when they need an injection of cash.

“That’s useful if you have some great projects in mind.

S&P 500 Index Is Poised for Best January in 15 Years Amid EU Fiscal Accord

U.S. stocks rose, sending the Standard & Poor’s 500 Index toward its best January in 15 years, as most countries in Europe agreed to tighter budget controls and Greece made progress on debt talks.

Bank of America Corp. and Morgan Stanley (MS) increased at least 1.3 percent, following gains in European lenders.

Eli Lilly & Co. rallied 1.2 percent as the drugmaker’s profit beat projections.

Archer Daniels Midland Co., the world’s largest grain processor, slumped 3.2 percent amid disappointing results.

The S&P 500 added 0.4 percent to 1,318.20 at 9:46 a.m. New York time.

Stocks, Euro Rise on Greek Debt Talks

Stocks (MXWD) climbed around the world, heading for the best January since 1994, the euro strengthened and commodities gained after most countries in Europe agreed to tighter budget controls and Greece made progress on debt talks.

The MSCI All-Country World Index (MXWD) rose 0.6 percent at 9:30 a.m. in New York, taking its monthly gain to 6.2 percent.

The Standard & Poor’s 500 Index added 0.4 percent and is up 4.8 percent in the month.

The euro appreciated 0.2 percent to $1.3169, set for its first monthly advance since October.