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Monday, 19 June 2017

MIDEAST STOCKS-Saudi surges before MSCI decision, UAE's Tabreed soars on Engie buy | Reuters

MIDEAST STOCKS-Saudi surges before MSCI decision, UAE's Tabreed soars on Engie buy | Reuters:

"Saudi Arabia's stock market surged on Monday after a regulatory official was quoted as predicting the bourse would enter MSCI's emerging market index sooner than most investors had expected, while the rest of the region was subdued. Mohammed El-Kuwaiz, vice chairman of the Capital Market Authority, was quoted as saying by the Asharq al-Awsat newspaper that he expected the Saudi market to be included in the index by the end of 2018. MSCI will announce late on Tuesday whether it is putting Saudi Arabia on a list for possible index inclusion. Most funds think Riyadh has done enough to be included, but if MSCI follows its usual timetable, actual entry would occur in mid-2019. However, MSCI has the flexibility to move faster if it wishes."



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