Tuesday , May 22 2018

Rebound in global equity may lift Gulf markets

DUBAI / Reuters

A rebound in global equity markets may lift stock markets in the Gulf on Tuesday.
Wall Street’s three main indexes surged well over 1 percent on Monday, and MSCI’s broadest index of Asia-Pacific shares outside Japan is up 1.2 percent on Tuesday morning. Brent oil has not recovered much, however, standing at $62.95 per barrel.
In Egypt, Eastern Co may gain after MSCI said it had decided to add the stock to its MSCI Egypt global standard index, replacing EFG Hermes, which moves to the small cap index, replacing El Sewedy Electric.

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