Qatar Shares Climb to 10-Week High Before MSCI Index Review - Bloomberg

Qatar Shares Climb to 10-Week High Before MSCI Index Review - Bloomberg:



"Qatar stocks rose to the highest since June on speculation index provider MSCI Inc. will increase the country’s weighting on a gauge tracked by investors managing about $9 trillion in assets.



MSCI will announce its latest review today, and Qatar’s weight on its Emerging Markets Index is expected to increase to 0.57 percent from 0.46 percent, according to Cairo-based investment bank EFG-Hermes Holding SAE. Qatar’s benchmark QE Index advanced 1.8 percent, the biggest jump in six weeks. Lender Masraf Al Rayan led gains, adding the most in more than a month, while Industries Qatar Q.S.C. surged 3.5 percent.



The country’s stock market, along with those from the United Arab Emirates, was included in the developing markets’ index in June. A weighting change could attract as much as $97 million of additional investment to Qatar’s bourse, mainly into Industries Qatar and Qatar National Bank SAQ, EFG-Hermes said in a note today."



'via Blog this'