Tuesday, 5 June 2018

MIDEAST STOCKS-Qatar gains on fund flows, Egypt falls ahead of energy subsidy cuts | Reuters

MIDEAST STOCKS-Qatar gains on fund flows, Egypt falls ahead of energy subsidy cuts | Reuters:

"Qatar and Saudi markets led Gulf stocks higher on Tuesday amid optimism index compiler MSCI will upgrade Riyadh to emerging market status and continued fund flows into Qatari blue-chips after MSCI recently raised their weightings. Qatari stocks climbed 2 percent, with market heavyweight Industries Qatar rising 2 percent, Qatar Insurance surging 6.2 percent, and Qatar Gas Transport gaining 5.7 percent. “We have noticed over the past few days since the MSCI rebalance that a lot of the residual buying from a lot of the active portfolios was still taking place,” said a portfolio manager in Doha."



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