Morocco's Shariah-compliant equities are tops
Middle East: Wednesday, April 16 - 2008 at 13:29
Equity markets in Morocco, Egypt and Nigeria delivered the highest returns for investors in companies deemed to comply with Islamic law during the first quarter of 2008, according to Standard & Poor's Global Benchmark Shariah Index Series. Conversely, Shariah-compliant equities in Turkey, China and India experienced the largest declines over the quarter. During the first quarter of 2008, Shariah-compliant equities in Morocco returned 34.45% on a total return basis, followed by Egypt (18.93%) and Nigeria (13.42%). In Turkey, Shariah-compliant stocks fell by 26.67%, followed by China (-26.57%) and India (-26.43%).
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Jeff Florian, Senior ReporterWednesday, April 16 - 2008 at 13:29 UAE local time (GMT+4)
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