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The stock climbed 1.6% in Riyadh. extending gains since it started trading on Wednesday to 17%. The main Saudi index also advanced. along with most peers in the Middle East. as they caught up with global markets after the U.S. and China agreed on a phase-one trade deal last week.
MSCI Inc.. which compiles the most popular emerging-market equities index. will add Aramco to its benchmarks using the closing price of Dec. 17. FTSE Russell will follow suit using the price of Dec. 19.
Aramco’s addition will probably trigger about $1.16 billion of flows into the stock. according to Arqaam Capital. EFG-Hermes foresees passive inflows of as much as $1.24 billion.
