Saudi Arabia's equity market is trading at attractive valuations, says BofAML - The National

Saudi Arabia's equity market is trading at attractive valuations, says BofAML - The National:

"Saudi Arabia's stock market, the Arab worlds’ largest, is attractive thanks to its current cheap valuation compared to other emerging markets equities as well as the government’s economic reforms and possible inclusion in two-widely tracked indices, according to Bank of America Merrill Lynch. The kingdom's equities are trading at a 3 per cent premium to global emerging markets (Gems), compared with a historical premium of more than 30 per cent, the bank said in a new report. The Tadawul market is also trading at an 11 per cent discount to its longer term average. The kingdom's stock exchange, is benefiting from government reforms that will help lift non-oil growth and higher oil prices that will buoy the economy overall, the report said."



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