Sunday 6 September 2015

MIDEAST STOCKS-Gulf markets fall but Etisalat lifts Abu Dhabi | Reuters

MIDEAST STOCKS-Gulf markets fall but Etisalat lifts Abu Dhabi | Reuters:



"Most Gulf stock markets fell early on Sunday after oil prices and global equities pulled back, but telecommunications firm Etisalat supported Abu Dhabi's bourse ahead of expected foreign fund inflows into the stock.



Etisalat surged 5.9 percent, lifting the Abu Dhabi index 0.6 percent, after the firm said on Sunday it would allow foreign and institutional investors to own its shares from Sept. 15 in a long-awaited move.



Analysts say this is likely to prompt index compiler MSCI to include the second-biggest telecommunications operator in the Gulf in its emerging markets benchmark. MSCI will announce the details of its next quarterly review on Nov. 12."



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