Mubasher: The National Bank of Kuwait (NBK) expected Boursa Kuwait to be promoted by Morgan Stanley in the future, following the recent promotion to enter the FTSE emerging markets list, according to a recent report issues by NBK.
Saudi Arabia equities are on track for the same upgrade; however, the promotion has been delayed for six months to March 2018.
“Qatar remains, of course, under pressure, given the diplomatic row within the GCC that shows no signs of relief ahead,’ the NBK’s report added.
At the oil level, prices of Brent basis seem to be stabilising nicely above $50 per barrel with signs of further strength for the year-end.
“We still expect prices will average $55 pb this year. After weighing somewhat on GCC equities, oil prices could be a bit of a plus ahead,” NBK noted.
Stronger oil demand is projected in the coming period, with stronger OPEC/non-OPEC resolve shoring up prices.
