MIDEAST STOCKS-Milaha boosts Qatar before index entry, Al Rajhi pulls down Saudi:
"A surge by Qatar Navigation (Milaha) lifted the Qatari equity index on Thursday ahead of the stock’s entry into FTSE indexes, while profit-taking in Al Rajhi Bank pulled down Riyadh.
Qatar’s index climbed 1.1 percent as Milaha added 4.0 percent in unusually heavy trade. The stock will join FTSE’s All-World and AllCap indexes after the close on Thursday, and this triggered inflows from passive funds.
Qatar Insurance, which sank 8.4 percent on Wednesday because it will be removed from some FTSE indexes at the same time, lost a further 2.0 percent and was the market’s most heavily traded stock."
'via Blog this'
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