Qatar: The Qatar Exchange (QE) Index advanced 0.80% to reach 8,636.37 points, as shares gained across the board. Qatar Islamic Bank or QIB gained one per cent. From a chart technical point of view, QIB is attempting to break the QR85 resistance level again, a level which stood firm during the month of December and a the beginning of January. Shares of Qatar General Insurance and Re-insurance declined 0.84%. Earlier in the day General Insurance announced a 2011 net profit a net profit of QR170.1m in 2011 versus QR119.5m in 2010. Earnings per Share (EPS) amounted to QR3.80 in 2011 compared to QR2.67 in 2010. "The board recommended distribution of Cash Dividends of %13 From the share par value, QR1.3 for each share," the insurer said in a e-mailed statement. [AMEInfo.com]
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