MIDEAST STOCKS-Saudi near-4 year high days after entering FTSE Russell index | Reuters:
All of Saudi Arabia's banks rose on
Thursday, lifting its stock exchange to a near-four year high
following its inclusion in the FTSE Russell's emerging-market
index this week.
Saudi's Tadawul index will have a weighting of 2.9
percent in the FTSE Emerging All Cap Index and this year will
join the MSCI emerging market benchmark. The market is
positioned for passive fund inflows of around $20 billion.
Saudi Arabia's index was up 0.8 percent with Al Rajhi Bank
and Riyad Bank gaining 2.2 percent each.
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