Credit Suisse Group AG recommends equities in Saudi Arabia because of the possibility of an easing of foreign ownership restrictions in the Persian Gulf’s biggest stock exchange. The bank also favors Qatar among the region’s markets.
“The Gulf Cooperation Council markets look set for a strong performance in 2011, possibly outperforming MSCI Emerging Markets,” London-based analysts Mohamad Hawa and Anton Rozanov wrote in a report to clients today. The region may benefit from improved global economic growth, attractive valuations, higher oil prices and stronger earnings momentum, the note said.
A possible upgrade of markets in Qatar and the United Arab Emirates to emerging markets status at MSCI Inc. will also help boost shares, it said.
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