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Sunday, 4 June 2017

MIDEAST STOCKS-Saudi rises ahead of MSCI decision, Ezdan leaps in Qatar | Reuters

MIDEAST STOCKS-Saudi rises ahead of MSCI decision, Ezdan leaps in Qatar | Reuters:

"Saudi Arabia's stock market rose on Sunday on hopes that MSCI would soon begin steps towards adding Riyadh to its emerging market index. Other regional bourses moved little though major property firm Ezdan Holding rebounded sharply in Qatar.

MSCI is to announce on June 20 whether it will launch a review of whether to add Saudi Arabia to its index. Inclusion would probably not take place before mid-2019, but it could ultimately bring tens of billions of dollars of fresh foreign money to Riyadh.

In the last few days, investors have gradually increased their bets on a positive decision on June 20 by adding to their holdings of stocks which foreign investors are expected to favour."



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