Saudi Tadawul market gains slightly, as index provider MSCI joins forces with bourse
2012-05-01 - AMEinfo.com | Saudi Arabia | Latest News
Saudi Arabia: The Saudi Arabian Tadawul Index added 0.04% to reach 7,558.47 Monday. The index fell at the opening but eventually performed a w-formation and ended the green. Earlier in the day, the Saudi Stock Exchange announced that is has signed an agreement with MSCI, a leading provider of investment decision support tools worldwide, authorizing MSCI (Morgan Stanley, Capital International) to use Tadawul market data to create and issue indexes on the Saudi Arabian equity market. MSCI will reintroduce coverage of the Saudi Arabia equity market with the release of standalone country indices. MSCI will also reintroduce the MSCI GCC Countries Index (MSCI GCC Countries ex Saudi Arabia Index + MSCI Saudi Arabia Domestic Index) and the MSCI Arabian Markets Index (MSCI Arabian Markets ex Saudi Arabia Index + MSCI Saudi Arabia Domestic Index), as well as domestic versions of existing regional indices. View full article...