(Bloomberg) -- Qatari stocks, on the verge of a bull market, suffered a blow as concern grew that a feud with its Gulf neighbors is escalating. The benchmark QE Index on Monday was fewer than 5 points away from completing a 20 percent gain since a November low, before slumping as the U.A.E. said the country's fighter jets intercepted one of its commercial planes. Qatar denied the claim. The gauge was last year's worst performer among 96 benchmarks tracked by Bloomberg in local currency terms, after a group of countries led by Saudi Arabia cut diplomatic and transport ties with Qatar.
--With assistance from Filipe Pacheco
To contact the reporter on this story: Namitha Jagadeesh in London at njagadeesh@bloomberg.net.
To contact the editor responsible for this story: Celeste Perri at cperri@bloomberg.net.
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