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Thursday, 1 September 2016

MIDEAST STOCKS-Qatar sags after FTSE list released, oil weighs on Saudi | Reuters

MIDEAST STOCKS-Qatar sags after FTSE list released, oil weighs on Saudi | Reuters:

"Qatar's main stock index fell sharply for a second straight day on Thursday after FTSE published a list of stocks to be included in its secondary emerging market index, while Saudi Arabian petrochemical stocks sagged because of weak oil prices.

Doha's index initially rose but closed down 1.4 percent, taking its losses for the week to 3.0 percent.

Although Qatar's upgrade to emerging market status is widely seen as positive for the market, investors had bought up stocks in anticipation of the list's publication in recent weeks, leaving many shares at or above analysts' estimates of fair value."



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