Tawasul
Mubasher TV
Contact Us Advertising   العربية

MSCI adds Dana Gas to EM Index, delists Damac

MSCI adds Dana Gas to EM Index, delists Damac
The UAE’s SCA has shown an interest in the MSCI EM Index’s upgrades
Dana Gas
DANA
0.00% 1.01 0.00
Damac
DAMAC
1.83% 0.94 0.02

Dubai – Mubasher: MSCI Inc has included the UAE-based Dana Gas to its emerging-markets index (EM Index), according to MSCI’s semi-annual index review.

On the other hand, the world’s largest index provider has removed the Dubai-based property developer DAMAC Properties from its global standard index, the review showed.

Foreign investments

The UAE’s Securities and Commodities Authority (SCA) has shown an interest in the MSCI EM Index’s upgrades as it attracts more foreign investments and reinforces the state’s trend regarding this matter, CEO of Minecraft Consulting told Mubasher.

Foreign liquidity is likely to be flowed into the emirate’s stocks included in the global index over the coming trading sessions, Fadi ElGhattis, founder of Mindcraft Consultants, remarked.

He also pointed out that global stock markets weighed on the UAE’s bourses over the past sessions amid concerns about the slowdown in demand for crude oil and the increase in supplied crude as a result of the US-China trade war.