Biggest MSCI Emerging Hopeful Falters as Saudi Profits Stall
- Saudi Arabian stock valuations climb as oil slump hits profits
- Tadawul’s average earnings estimate lower versus a year ago
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All it took was five trading days.
That was the time EFG-Hermes Holding SAE needed to go from overweight to underweight on Saudi Arabian shares after they were added to MSCI Inc.’s list for potential classification as an emerging market. The reasons: flat company earnings and excessive valuations.