Qatar exchange to resume trading on January 2

Qatar Exchange will resume trading in the New Year on January 2 after the weekend break and official holiday on Sunday. All banks operating in Qatar remained closed on New Year day for preparing the final statement of accounts for the year 2011, following the directive issued by the Qatar Central Bank. Analysts are optimistic of even better performance by the Qatari bourse in 2012 after closing 2011 on a regional high. The QE index ended 0.4% lower at 8,779 points, up 1.1% in 2011. It was the only exchange in the Gulf to note gains besides Saudi Arabia in the year. Qatar Exchange index gained 97.38 points (1.12%) in 2011 when it closed at 8,779.03 points on Thursday, the last trading day for the year 2011. The trading value of QR 83,517,620,360.40 this year represents an increase by 24.31% compared to the figure of QR 67,185,287,876.70 in 2010. The trading volume was 2,302,779,616 shares, an increase by 9.95% compared to 2,094,391,542 shares while the number of transactions 1,119,101 was up by 6.34% compared to 1,052,392 transactions the previous year. Market capitalization was QR 457,351,564,262.52 an increase by 1.87% compared to QR 448,937,504,408.80 at the end of previous year. In other GCC states, Dubai's index was up 0.5% to 1,353 points, reducing 2011 losses to 17%. Abu Dhabi's benchmark advanced 1.5% to 2,402 points, curbing losses this year to 11.7%. Kuwait s measure rose 0.5% to 5,814 points, trimming its 2011 losses to 16.4%. Oman s index gained 0.3% to 5,695 points. For the year, it closed down 15.7%.  Egypt s measure climbed 1% to 3,622 points, trimming its 2011 losses to 49.3% and Bahrain s measure slipped 0.1% to 1,143 points. The bourse lost 20.1% in 2011.