MIDEAST STOCKS-Saudi stocks gain ahead of joining FTSE Russel and S&P Dow Jones indexes - Reuters:
Saudi Arabia's stock market rose sharply
on Thursday ahead of their inclusion in FTSE Russell and S&P Dow
Jones emerging market indexes next week, which are expected to
attract billions of dollars in passive funds.
Saudi stocks will see fourth tranche inclusion in FTSE
Russell and the second and final tranche entry into S&P Dow
Jones as an emerging market starting on September 23.
Saudi stocks initially joined the two indexes earlier this
year.
The market was also supported by news that Saudi oil supply
was uninterrupted despite weekend attacks on the kingdom's oil
facilities and by a cut in Saudi interest rates.
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