Qatar shares lead losers in Middle East

Middle East shares fell, with Qatar's index headed for the lowest close in a month, after US lawmakers failed to agree on raising the debt ceiling and data showed the world's largest economy almost came to a halt. Qatar National Bank (QNB), the country's biggest lender by assets, lost as much as 1.1 per cent and Barwa Real Estate Co, the Qatari property developer, fell for a fourth day. The Qatar index decreased 0.3 per cent to 8,348.42 at 11.09am in Doha, poised for the lowest close since June 29. The measure fell 0.2 per cent this month. Article continues below "Earnings are failing to act as a catalyst; all focus is on the US debt ceiling," said Samer Darwiche, a financial analyst at Gulfmena Investments in Dubai. "The panic is twofold: not raising the debt ceiling, which is unlikely to occur, and the fear of downgrading the US credit rating." Kuwait's index and Bahrain's Index fell 0.5 per cent, while Abu Dhabi's ADX General Index decreased 0.2 per cent. Oman's MSM 30 Index dropped 0.3 per cent. Dubai's DFM General Index was little changed and Saudi Arabia's Tadawul All Share Index rose 0.6 per cent.