Mideast Stocks: Qatar smarts from MSCI decision, Gulf mostly moves little | ZAWYA MENA Edition

Mideast Stocks: Qatar smarts from MSCI decision, Gulf mostly moves little | ZAWYA MENA Edition:

Qatar's stock market continued to suffer in early trade on Thursday from MSCI's decision to exclude two of its major stocks in a semi-annual index review, while the rest of the Gulf moved little.

The Qatar index fell for a third straight session, dropping 0.5 percent after 90 minutes. Qatar Fuel, which had plunged 10 percent on Wednesday after MSCI decided against market expectations not to include the stock in its global indexes for now, dived a further 6.2 percent.

Mesaieed Petrochemical, which had lost 1.5 percent on Wednesday after it was also excluded, fell a further 1.2 percent. Doha Bank dropped 0.7 percent; it had lost 6.3 percent on Wednesday after MSCI decided to move it to a small cap index from the Qatar standard index.