Nasdaq OMX launches Mid-East and North Africa index

Index provider Nasdaq OMX has launched the Nasdaq OMX Middle East North Africa index which is designed to provide exposure to the largest and most liquid companies domiciled in the Mena region. ETF provider Powershares Capital Management will launch an ETF on the new index, which will be listed on the Nasdaq stock market.

The float-adjusted market capitalisation weighted index comprises companies based in Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Qatar and the United Arab Emirates. Sector representations include financials, telecommunication services, industrials, materials, energy, consumer discretionary and utilities.