Liquidity fears allayed as Aramco finds 'natural' trading groove
Sources close to Saudi Aramco breathed a sigh of relief on Thursday, when trading in its shares accelerated, after a very slow and stuttering start the previous day. The action propelled the Saudi oil champion's stock higher, but more importantly for international investors, the more liquid flow should make it easier for them to buy the stock when it is added to MSCI's emerging markets index next week.
The higher volumes point to Aramco being able to sustain, or even grow, its lofty valuation on the strength of its local investor following.On Thursday morning, Aramco’s share price opened at Sr38.7, up 9.99% from its previous close of Sr35.2 a share. The shares had been stuck ...
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