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Monday, 20 March 2017

MIDEAST STOCKS-Gulf moves little, insurers retreat in Saudi | Reuters

MIDEAST STOCKS-Gulf moves little, insurers retreat in Saudi | Reuters:

"Qatar's stock market marginally outperformed Gulf peers in slow early trade on Monday as it completed its upgrade to FTSE Russell's secondary emerging market index, while Saudi Arabia lagged on profit-taking in the insurance sector. In Qatar, the second phase of the FTSE upgrade took effect from the opening, with 20 of the 22 companies selected in September 2016 seeing their investibility weights doubled. Stocks in this group were mixed, with Commercial Bank adding 0.9 percent but Qatar Navigation down 0.9 percent. Many investors tried to front-run the passive funds brought in over the past few days by the upgrade."



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