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Tuesday, 20 June 2017

MIDEAST STOCKS-Saudi pulls back before MSCI decision, Qatar hits post-crisis low | Reuters

MIDEAST STOCKS-Saudi pulls back before MSCI decision, Qatar hits post-crisis low | Reuters:

"Gulf stock markets were weighed down by weak oil prices on Tuesday as Saudi Arabia pulled back despite hopes for positive news from index compiler MSCI, while Qatar closed at its lowest level since it was hit by a diplomatic crisis early this month. MSCI was due after the close on Tuesday to announce whether it will launch a review of Saudi Arabia for possible inclusion in its emerging market index; inclusion would bring tens of billions of dollars of fresh foreign money. The Saudi index surged 2.4 percent on Monday after Mohammed El-Kuwaiz, vice chairman of the Capital Market Authority, was quoted as saying by the Asharq al-Awsat newspaper that he expected inclusion by the end of 2018."



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