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Tuesday, 15 November 2016

MIDEAST STOCKS-MSCI changes to affect UAE and Qatar, money rate hopes may support Saudi | Reuters

MIDEAST STOCKS-MSCI changes to affect UAE and Qatar, money rate hopes may support Saudi | Reuters:
"Individual stocks in the United Arab Emirates and Qatar may move on Tuesday in response to adjustments by index compiler MSCI, while expectations for further falls of market interest rates in Saudi Arabia could support that market.

The international market environment looks broadly neutral, with MSCI's broadest index of Asia-Pacific shares outside Japan marginally higher and Brent crude oil flat below $45 a barrel, although U.S. Treasury yields are continuing to rise, which may pull funds from emerging markets.

In its November review, effective at the close on Nov. 30, MSCI upgraded Dubai's DXB Entertainments to its UAE index and deleted Dubai Financial Market, while moving Arabtec down from the standard index to its small cap index. Arqaam Capital estimated this would cause net passive inflows of $65 million into DXB, and outflows of $40 million from Arabtec and $34 million from DFM."

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