GCC equities saw $21bn correction in Q2 2014: NBK

July 30, 2014 4:13 pm

According to a report by the National Bank of Kuwait (NBK), GCC equity markets have seen a strong correction in the second quarter of this year, triggered primarily by the deteriorating situation in Iraq, Saudi Gazette has reported. As of the end of June, GCC markets’ capitalisation stood at $1.06trn, having shed $21bn in the second quarter, the report said. The S&P GCC index was off by 1% during the quarter, reducing gains from the beginning of the year to 8%.