Thursday 16 June 2011

MSCI upgrade hopes boost Qatar - The National

Qatar's measure rose to its highest in more than three weeks on expectation the country will become an emerging market next week.

The Qatar Exchange added almost 1 per cent to 8,386.30 ahead of the index compiler MSCI's decision on a possible status upgrade next Tuesday. The top gainers on the market included Barwa Real Estate, which rose 1.9 per cent to 30.3 Qatari rials, and lender Masraf al Rayan, which edged almost 1 per cent higher to 23.14 rials.

Qatar and the UAE are both vying for an upgrade by the MSCI to "emerging market" status from "frontier market" status.

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