MIDEAST STOCKS-MSCI stock picks lead rebound in Qatar, UAE | Agricultural Commodities | Reuters:
"Stocks about to join the MSCI emerging market index supported bourses in Dubai, Abu Dhabi and Qatar on Monday while Saudi Arabia posted gains across various sectors as it hit a new six-year high.
Abu Dhabi's bourse led the region, rising 2.5 percent and again surpassing the psychological barrier of 5,000 points as it continued to recover from a slump caused by profit-taking last week. The index closed at 5,049 points.
Three large lenders, Abu Dhabi Commercial Bank, National Bank of Abu Dhabi and First Gulf Bank , were the main drivers, posting gains of 7.6, 4.9 and 3.2 percent respectively.
All three banks will become part of the MSCI emerging market index at the end of this week as MSCI upgrades the United Arab Emirates and Qatar from frontier market status. So will developer Aldar Properties, whose shares added 4.3 percent."
'via Blog this'
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