Gulf markets are used to dizzying peaks and deep troughs. But as the end of 2008 draws near, investors can look back at one of the most eventful periods in the region’s equity markets.

Qatari investors have had a particularly mixed year. While other badly performing stock markets, such as Dubai and Saudi Arabia, have been down for most of 2008 – and nose-dived this autumn – Qatar was at one point the best performing market in the Gulf, and one of the better bourses in the world.