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The Trade War Has Sunk Emerging Markets. There's More to Come. - Bloomberg

The Trade War Has Sunk Emerging Markets. There's More to Come. - Bloomberg:Another week, another leg of the emerging-market rout.An MSCI gauge of developing-nation stocks slipped 3.7%, setting the stage for the worst month since October. It was even worse for currencies, which capped a fifth straight week of declines, erasing gains for the year. Brazil’s real led the drop as protests added to political tensions and growth forecasts declined.“There are no deadlines” for pressure on risky assets t...
Tags: Travel, New York, Bloomberg, Brazil, Bbva, MSCI, Rupert Neil Bumfrey, Alejandro Cuadrado


MIDEAST STOCKS-Banks propel #Saudi, lender FAB drags #AbuDhabi - Reuters

MIDEAST STOCKS-Banks propel Saudi, lender FAB drags Abu Dhabi - Reuters:Saudi Arabia's stock market rose for athird straight session on Thursday, rebounding from recentsell-offs and ahead of MSCI inclusion later this month. AbuDhabi was pressured by its top-lender.On Monday, MSCI said that it would include MSCI Saudi Arabiain its emerging-markets index, effective May 28, a move thatcould draw billions of dollars into the market.MSCI said 30 Saudi Arabian securities would be added,representing an...
Tags: Travel, Saudi Arabia, MSCI, ABU DHABI Reuters, Rupert Neil Bumfrey, AbuDhabi Reuters


Royal Family Stake in FAB Proves Obstacle to MSCI Reweighting - Bloomberg

Royal Family Stake in FAB Proves Obstacle to MSCI Reweighting - Bloomberg:A stake controlled by the royal family of Abu Dhabi is getting in the way of the United Arab Emirates’ largest bank earning a bigger weighting in MSCI Inc.’s benchmarks.Shares in First Abu Dhabi Bank PJSC, which unexpectedly failed to win an upgrade of its weighting in a May 13 review by MSCI, are heading for their worst week since the lender was created in a 2017 merger. MSCI considers strategic holdings, along with limit...
Tags: Travel, United Arab Emirates, Abu Dhabi, MSCI, Bloomberg TV, Rupert Neil Bumfrey, MSCI Inc, Henry Fernandez, First Abu Dhabi Bank PJSC, MSCI Reweighting Bloomberg


MIDEAST STOCKS- #SaudiArabia up on banks, weak earnings hurt #Dubai - Reuters

MIDEAST STOCKS-Saudi Arabia up on banks, weak earnings hurt Dubai - Reuters:Saudi Arabia's stock market rosemoderately on Wednesday, lifted by its banking shares followingindex provider MSCI's decision to include multiple lenders,while Dubai was pressured by a string of disappointing corporateearnings.    Saudi Arabia's index increased 1.3% with Al RajhiBank gaining 2.1% and Alinma Bank rising2.6%, while National Commercial Bank was up 0.9%."The 10% to 15% correction in large caps especially the...
Tags: Travel, Saudi Arabia, Dubai, MSCI, Dubai Reuters, Rupert Neil Bumfrey, National Commercial Bank, Alinma Bank, Al Mal Capital, Vrajesh Bhandari, Al RajhiBank


#Dubai Stocks Shift From World's Worst to Best in Just 24 Hours - Bloomberg

Dubai Stocks Shift From World's Worst to Best in Just 24 Hours - Bloomberg:Investors in Dubai’s equities might be feeling whiplash after the main index went from the day’s worst performer worldwide to the biggest gainer in back-to-back sessions, in response to shifting news on regional tensions and local stocks’ presence in global benchmarks.The DFM General Index advanced 3.5% Tuesday, gaining more than any other major market tracked by Bloomberg and almost fully erasing a loss of 4% the previou...
Tags: Travel, Bloomberg, Dubai, MSCI, Persian Gulf, Rupert Neil Bumfrey, MSCI Inc, Emaar Malls PJSC, Emaar Development PJSC


MSCI Boosts China, Adds #Saudi to Emerging-Market Indexes - Bloomberg

MSCI Boosts China, Adds Saudi to Emerging-Market Indexes - Bloomberg:Twenty-six China A shares will be added to the MSCI China Index, while 30 equities from Saudi Arabia and eight Argentine securities are set to join the MSCI Inc.’s emerging-market stocks benchmarks, in steps that could potentially draw billions of dollars of investor inflows.MSCI, which announced the additions of Saudi Arabia and Argentina last June, said the stocks will join its indexes as of the close of trading on May 28. Ar...
Tags: Travel, Saudi Arabia, China, Bloomberg, Argentina, Kuwait, MSCI, Rupert Neil Bumfrey, MSCI Emerging Markets, MSCI Inc


BUZZ: First Abu Dhabi Bank sees worst day in nearly a decade | ZAWYA MENA Edition

BUZZ: First Abu Dhabi Bank sees worst day in nearly a decade | ZAWYA MENA Edition:First Abu Dhabi Bank (FAB) plunged 9.4%, to its biggest intraday loss since November 2009, after MSCI decided to maintain bank's weight in the index despite foreign ownership limit hike.FAB's losses have been further exaggerated by volatile markets amid U.S.-China trade tensions and rise in Middle East tensions. MSCI will maintain FAB's foreign inclusion factor at 25% in its international indexes, despite recent fo...
Tags: Travel, China, Middle East, MSCI, Rupert Neil Bumfrey, Arqaam Capital, First Abu Dhabi Bank, First Abu Dhabi Bank FAB


MIDEAST STOCKS- #SaudiArabia rebounds following deep sell-off, FAB weighs on #AbuDhabi - Reuters

MIDEAST STOCKS-Saudi Arabia rebounds following deep sell-off, FAB weighs on Abu Dhabi - Reuters:Saudi Arabia’s stock index rose on Tuesday, rebounding after a sell-off triggered by news of oil tankers being attacked off the coast of the United Arab Emirates, while Abu Dhabi dropped to its worst day in more than three years, pressured by First Abu Dhabi Bank.Saudi Arabia’s stock market edged 1.5% higher a day after its shares fell nearly 3.6% after Riyadh said two of its oil tankers were among th...
Tags: Travel, Saudi Arabia, United Arab Emirates, Abu Dhabi, Riyadh, MSCI, ABU DHABI Reuters, Rupert Neil Bumfrey, First Abu Dhabi Bank Saudi Arabia, AbuDhabi Reuters


These Six Markets Are the Biggest Winners and Losers From Oil’s Rally By Bloomberg

These Six Markets Are the Biggest Winners and Losers From Oil’s Rally By Bloomberg:Emerging markets got a lift from the Federal Reserve, Donald Trump and Xi Jinping to start the year. Oil may be the next saving grace.Investors say a potential uptick in crude prices might be the latest tailwind for the developing world after the White House scrapped waivers tied to Iranian oil sanctions. Brent crude gained as much as 3.5 percent on Monday and was close to reaching $75 a barrel on Tuesday for the ...
Tags: Travel, White House, Bloomberg, Xi Jinping, MSCI, Rupert Neil Bumfrey, Federal Reserve Donald Trump, Biggest Winners and Losers From Oil


FAB shares surge further after hike in foreign ownership limit

:Shares of First Abu Dhabi Bank (FAB) continue to witness an insatiable demand as traders resorted to buy regardless of the pricier entry levels. The fresh bout of buying has come about after the bank said it had received regulatory nods from the central bank and the market regulator to hike foreign ownership limit to 40 per cent.“FAB looks a bit pricey especially compared to peers, so it doesn’t look like the best option,” said Issam Kassabieh, senior financial analyst at Menacorp. “But it is s...
Tags: Travel, MSCI, Rupert Neil Bumfrey, Dubai Islamic Bank, First Abu Dhabi Bank FAB, Issam Kassabieh, Menacorp


Investors Joining #Saudi Stocks' Big Moment Have to Pay a Premium - Bloomberg

Investors Joining Saudi Stocks' Big Moment Have to Pay a Premium - Bloomberg:Investors who are on the verge of buying Saudi Arabian shares for the first time should be ready to reach deep into their pockets.The biggest stock market in the Arab world, which will begin to be included in the emerging-markets group by index compiler MSCI Inc. next month, is trading at the most expensive level compared with the category since 2015. The ratio of estimated price-to-earnings in the next 12 months for th...
Tags: Travel, MSCI, Rupert Neil Bumfrey, MSCI Inc, Premium Bloomberg


Monthly markets review: Stocks in #Kuwait and #SaudiArabia outperform in a dull market phase | ZAWYA MENA Edition

Monthly markets review: Stocks in Kuwait and Saudi Arabia outperform in a dull market phase | ZAWYA MENA Edition:Investors in the Middle East were mostly cautious during the month of March, reflecting the calmness in global markets following a rally at the beginning of the year.Trade talks between the United States and China were the main focus for investors, as positive or negative news on the progress in talks remains as the main factor moving global markets.The MSCI World index rose 1.05 perc...
Tags: Travel, Saudi Arabia, China, United States, GCC, Middle East, Kuwait, MSCI, Rupert Neil Bumfrey, Eikon


MIDEAST STOCKS- #Saudi index retreats from multi-year peak; Gulf rivals also fall | Reuters

MIDEAST STOCKS-Saudi index retreats from multi-year peak; Gulf rivals also fall | Reuters:Saudi Arabia's stock market closed lower on Sunday, along with other Gulf markets, having ended the previous week at its highest in nearly four years after inclusion in the FTSE Russell's emerging-market index.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 Saudi index dropped 0.7 percent on Sunday, ...
Tags: Travel, Saudi Arabia, Gulf, Reuters, Tadawul, MSCI, Rupert Neil Bumfrey


MIDEAST STOCKS- #Saudi near-4 year high days after entering FTSE Russell index | Reuters

MIDEAST STOCKS-Saudi near-4 year high days after entering FTSE Russell index | Reuters:All of Saudi Arabia's banks rose onThursday, lifting its stock exchange to a near-four year highfollowing its inclusion in the FTSE Russell's emerging-marketindex this week.Saudi's Tadawul index will have a weighting of 2.9percent in the FTSE Emerging All Cap Index and this year willjoin the MSCI emerging market benchmark. The market ispositioned for passive fund inflows of around $20 billion.Saudi Arabia's in...
Tags: Travel, Saudi Arabia, Reuters, Tadawul, MSCI, Russell, Riyad Bank, Rupert Neil Bumfrey, Al Rajhi Bank


MIDEAST STOCKS- #Saudi inches up after index inclusion, Egypt hits 3-month low | Reuters

MIDEAST STOCKS-Saudi inches up after index inclusion, Egypt hits 3-month low | Reuters:Saudi Arabia's stock index edged up on Tuesday after touching a near-four year high on Monday, which was its first day as a member of FTSE Russell's emerging-market index.Egypt's blue-chip index, meanwhile, was pulled down by a wide sell-off to its biggest intra-day loss this year.Saudi's Tadawul index will have a weighting of 2.9 percent in the FTSE Emerging All Cap Index and later this year will join the MSC...
Tags: Travel, Saudi Arabia, Egypt, Reuters, Tadawul, MSCI, Russell, Rupert Neil Bumfrey


Mideast Stocks: #Saudi eases back from multi-year closing high | ZAWYA MENA Edition

Mideast Stocks: Saudi eases back from multi-year closing high | ZAWYA MENA Edition:Saudi Arabia's stock index edged down on Tuesday after closing at a near-four year high on Monday, which was its first day as a member of FTSE Russell's emerging-market index. Most other major Middle Eastern markets were mixed in muted trading.Saudi's Tadawul index will have a weighting of 2.9 percent in the FTSE Emerging All Cap Index and later this year will join the MSCI emerging market benchmark. The market is...
Tags: Travel, Saudi Arabia, Reuters, Tadawul, Mideast, MSCI, Russell, Rupert Neil Bumfrey


#SaudiArabia takes first step into foreign equity benchmarks | Financial Times

Saudi Arabia takes first step into foreign equity benchmarks | Financial Times:Saudi Arabia’s $536bn stock market took its first step into the world’s main equity benchmarks on Monday when it was admitted into indices run by FTSE Russell and S&P Dow Jones.The moves will be added to in June, when Saudi stocks will be added to the widely followed MSCI Emerging Markets index, which MSCI says is tracked by $1.9tn of assets.Saudi Arabia’s stock market, known as the Tadawul, is projected to be the eig...
Tags: Travel, Saudi Arabia, Poland, Tadawul, MSCI, Russell, Rupert Neil Bumfrey, | Financial Times, Mexico Indonesia


Mideast's biggest exchange expects foreign investment to grow, CEO says | Reuters

Mideast's biggest exchange expects foreign investment to grow, CEO says | Reuters:Saudi Arabia’s listed companies could see holdings by foreign investors rise to 10 percent when their shares are included in index providers MSCI and FTSE’s emerging-market indices, the chief executive of Tadawul told Reuters on Monday.Tadawul is the Middle East’s largest exchange and Saudi Arabia’s main exchange. It has a total market capitalization of around $541.3 billion, with a free float of about 40 percent.S...
Tags: Travel, Saudi Arabia, Middle East, Reuters, Tadawul, Mideast, MSCI, Rupert Neil Bumfrey, MSCI Emerging Markets Index


MIDEAST STOCKS- #Saudi closes at near 4-year high as it joins FTSE Russell index | Reuters

MIDEAST STOCKS-Saudi closes at near 4-year high as it joins FTSE Russell index | Reuters:Saudi Arabia's benchmark stock index closed at its highest in nearly four years on Monday as bank shares rose on its first day as a member of FTSE Russell's emerging-market index, which is expected to attract billions in passive fund inflows.Saudi's Tadawul index will have a weighting of 2.9 percent in the FTSE Emerging All Cap Index and later this year will join the MSCI emerging market benchmark. The marke...
Tags: Travel, Saudi Arabia, Reuters, Tadawul, MSCI, Rupert Neil Bumfrey, Jamal Khashoggi


MIDEAST STOCKS- #Saudi edges up ahead of FTSE Russell index inclusion, other mkts mixed | Reuters

MIDEAST STOCKS-Saudi edges up ahead of FTSE Russell index inclusion, other mkts mixed | Reuters:Saudi stocks were trading 0.2 percent higher on Sunday, a day ahead of the exchange’s inclusion in the FTSE Russell’s emerging market index, while other Gulf markets were mixed with Qatar down 0.8 percent on weakness in banks and real estate firms.The Saudi index has gained 9.8 percent so far this year, outperforming major Gulf markets. Foreign investors have been net buyers of Saudi stocks every week...
Tags: Travel, Qatar, Gulf, Reuters, MSCI, Russell, Rupert Neil Bumfrey, Riyad Capital, Muhammad Faisal Potrik


Saudi Arabian equities, emerging market fixed income favoured by UBP fund selector | ZAWYA MENA Edition

Saudi Arabian equities, emerging market fixed income favoured by UBP fund selector | ZAWYA MENA Edition:Many emerging market (EM) managers are increasing their allocations to Middle East and North Africa (MENA) markets, especially to Saudi Arabia, a fund selector from Swiss private bank Union Bancaire Privée (UBP) has told Zawya.“People are more and more looking at frontier markets and how the indices are gradually incorporating those frontier markets, so we have been increasing research on MENA...
Tags: Travel, Saudi Arabia, Middle East, Mena, North Africa, Ubp, MSCI, Union Bancaire Privee UBP, Rupert Neil Bumfrey, Zawya


#AbuDhabi Mega-Lenders May Bring More Pain to 3 #Dubai Stocks - Bloomberg

Abu Dhabi Mega-Lenders May Bring More Pain to 3 Dubai Stocks - Bloomberg:Banks based in Abu Dhabi are expected to put more pressure on stocks that have already taken a beating in neighboring Dubai.A merger between Abu Dhabi Commercial Bank PJSC and Union National Bank PJSC on May 1 could draw around $193 million from investors who track benchmarks compiled by MSCI Inc. and FTSE Russell, according to Mohamad Al Hajj, an equities strategist at EFG-Hermes Holding.The combined entity will later acqu...
Tags: Travel, Dubai, Abu Dhabi, MSCI, EFG Hermes, Rupert Neil Bumfrey, MSCI Inc, Mohamad Al Hajj, Abu Dhabi Commercial Bank PJSC, Union National Bank PJSC, Dubai Stocks Bloomberg


Timing the key for Gulf's equity markets | ZAWYA MENA Edition

Timing the key for Gulf's equity markets | ZAWYA MENA Edition:GCC markets have gotten off to a strong start in 2019 led by the market in Saudi Arabia, which is up approximately 8 percent  year-to-date (YTD). The recent rally on the Tadawul Index has been led mainly by foreign investors, who bought close to 4.4bn riyals ($1.17 billion) through QFIs and Swaps during the first month of the year in anticipation of inflows that will come from FTSE and MSCI inclusion in March and June respectively.The...
Tags: Travel, Saudi Arabia, GCC, Brent, Ksa, MSCI, Rupert Neil Bumfrey, Tadawul Index


#Saudi bourse expects $15-$20 bln in passive fund inflows in 2019 | Reuters

Saudi bourse expects $15-$20 bln in passive fund inflows in 2019 | Reuters:Saudi Arabia’s stock exchange expects $15 to $20 billion in passive fund inflows this year, its chief executive told Reuters on Thursday.Tadawul, Saudi Arabia’s main stock exchange, will join the FTSE Russell and MSCI’s emerging market indexes later this year which has heightened the interest of foreign investors in the Saudi market.Khalid al-Hussan, chief executive officer of Tadawul, also told Reuters that he is still c...
Tags: Travel, Saudi Arabia, Reuters, Tadawul, MSCI, Khalid, Rupert Neil Bumfrey, HUSSAN, Tadawul Saudi Arabia


First #AbuDhabi Bank's shareholders approve plan to lift foreign ownership limit | ZAWYA MENA Edition

:First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates, said in a statement to the Abu Dhabi Securities Exchange on Tuesday that its shareholders have approved a raise to the bank’s foreign ownership limit.FAB’s general assembly approved in its meeting an increase to the bank’s foreign ownership limit to 40 percent, up from 25 percent, subject to the Securities and Commodities Authority and other competent authorities’ approval.“The move should increase FAB’s eight in MSCI and...
Tags: Travel, United Arab Emirates, MSCI, Abu Dhabi Securities Exchange, EFG Hermes, Rupert Neil Bumfrey, Shabbir Malik, Securities and Commodities Authority, First Abu Dhabi Bank, Zawya, First AbuDhabi Bank


#Saudi and #Kuwait remain top picks for cautious Mideast funds: poll | ZAWYA MENA Edition

Saudi and Kuwait remain top picks for cautious Mideast funds: poll | ZAWYA MENA Edition:Middle Eastern funds will invest in Saudi and Kuwaiti stocks this year but remain cautious about other regional markets and are at their least bullish in a January since 2013, according to a Reuters poll.Saudi Arabia's impending entry into emerging market indexes should mean a $15 billion inflow of "passive" benchmark-linked funds, which will attract billions more of active funds, regardless of low oil prices...
Tags: Travel, Saudi Arabia, Kuwait, Reuters, Mideast, MSCI, Rupert Neil Bumfrey


Arab States Should Beware of Indices Bearing Easy Money - Bloomberg

Arab States Should Beware of Indices Bearing Easy Money - Bloomberg:The taps of foreign capital are about to open on some states in the Middle East, thanks to their inclusion in key emerging-market indexes. Over the next year, Saudi Arabia and Kuwait are expected to join Egypt, the United Arab Emirates and Qatar in the MSCI EM index. At the same time, Saudi Arabia, Qatar, the UAE, Bahrain and Kuwait are expected to join Oman in the J.P. Morgan Emerging Market government bond index. Kuwait was cl...
Tags: Travel, Saudi Arabia, Qatar, Bloomberg, Egypt, Middle East, United Arab Emirates, Oman, Ftse, Kuwait, MSCI, Russell, Saudi Arabia Qatar, Rupert Neil Bumfrey, UAE Bahrain


GCC Equities Review: #Saudi market ends higher in a turbulent year | ZAWYA MENA Edition

GCC Equities Review: Saudi market ends higher in a turbulent year | ZAWYA MENA Edition:Saudi Arabia's stock market put in a creditable performance in 2018, finishing the year 8.4 percent higher, which is a considerable outperformance of both the MSCI World market (down 10.4 percent) and MSCI Emerging Market (down 16.6 percent) indices.Yet the total value of stocks traded in the market during the year actually declined by 16.2 percent to $185.6 billion, according to data from KAMCO Research, and ...
Tags: Travel, Saudi Arabia, Istanbul, MSCI, Rupert Neil Bumfrey, KAMCO Research, Jamal Khashoggi, GCC Equities Review


MIDEAST STOCKS-Banks lift #Saudi, Emirates NBD aids #Dubai | Reuters

MIDEAST STOCKS-Banks lift Saudi, Emirates NBD aids Dubai | Reuters:Saudi Arabia’s stock market rose on Wednesday, boosted by its banks and petrochemical stocks, while Dubai was lifted by a rise in its largest lender Emirates NBD after it reported strong fourth-quarter earnings.Saudi Arabia’s index rose 0.9 percent with top petrochemical producer Saudi Basic Industries adding 1.2 percent and Al Rajhi Bank increasing 0.5 percent.The Saudi market, which will become part of the MSCI emerging market ...
Tags: Travel, Saudi Arabia, Dubai, Reuters, Emirates NBD, MSCI, Rupert Neil Bumfrey, Saudi Basic Industries, Al Rajhi Bank, Saudi Emirates NBD


Nasdaq #Dubai expands futures market, launches trading on MSCI #UAE index | ZAWYA MENA Edition

Nasdaq Dubai expands futures market, launches trading on MSCI UAE index | ZAWYA MENA Edition:Nasdaq Dubai announced the launch of futures trading on the MSCI UAE equity index on Tuesday, in its latest expansion of the futures market.In a press statement, the exchange explained that the contracts are designed to appeal to international and regional investors seeking exposure to leading UAE companies.Robert Ansari, Executive Director - Head of the Middle East of MSCI, rang the market-opening bell ...
Tags: Travel, Middle East, Uae, MSCI, Rupert Neil Bumfrey, Nasdaq Dubai, First Abu Dhabi Bank, Robert Ansari, MSCI UAE



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