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GCC Stock Markets: A Valuation Case
Despite improving fundaments, key stock market indices in the Gulf Cooperation Council (GCC) continue to trade well below their peak levels. Since 2009, oil prices have trended upwards, governments have announced larger spending plans, and corporations continue to report stronger earnings. Combined, these factors are expected to drive gross domestic product (GDP) levels to new heights in 2011. In this section, we take a closer look at the fundaments of Saudi Arabia, Kuwait, and Qatar – three key countries in the region that show improved fundamentals that have yet to be captured by the stock markets.