Oil Denies Saudis Regional Stock Crown as Johannesburg Opens Gap - Bloomberg:
"Oil has denied Saudi Arabia the opportunity to overtake South Africa as the biggest stock market in the Middle East and Africa, even as political turmoil and a faltering economy hold back share prices in Johannesburg.
The total market capitalization of the South African bourse was $489 billion as of Friday, about $25 billion more than that of Riyadh’s after its main index advanced 10 percent this year, about five-times the gain in Saudi Arabia’s Tadawul All Share Index. The kingdom’s market reforms, which were designed to attract foreign investors, have been countered by the effects of lower crude price, the kingdom’s main source of income."
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