In a report posted on its website on Friday, FTSE Russell announced results of the FTSE annual country classification review. FTSE Russell said Saudi Arabia is close to an upgrade, will soon meet promotion criteria and would be assessed again in 2018, meanwhile Kuwait will be classified as secondary emerging ?market.

In stocks, world stock markets climbed back on Friday near record-high levels on the last trading day of the quarter.MSCI’s gauge of stocks across the globe gained 0.45 percent. The index was within 0.5 percent of an all-time high and tallied its 11th consecutive positive month.The pan-European FTSEurofirst 300 index rose 0.44 percent, and notched its best month of the year.

On Wall Street, the S&P 500 and Nasdaq minted all-time highs.

In the Middle East, Egypt's stock index climbed on Thursday ahead of a central bank meeting on monetary policy later in the day, while the banking sector helped carry the Saudi index higher.The main Egyptian stock index rose 1.1 percent on Thursday.

The Riyadh index rose 0.7 percent as most large-cap banks climbed following news of the successful sovereign bond sale, which attracted investor demand of around $40 billion.

The Dubai index edged up 0.1 percent, Union Properties rose 1.1 percent while Emaar Properties lost 0.7 percent. In Abu Dhabi, the index fell 0.2 percent.

In commodities, U.S. crude rose 0.06 percent on Friday to $51.59 per barrel and Brent was last at $56.68, down 0.84 percent on the day.

Spot gold dropped 0.5 percent on Friday to $1,280.15 an ounce.

In other news, Egypt's central bank left its main interest rates unchanged on Thursday at a meeting of its monetary policy committee, it said in a statement.The overnight deposit rate stayed at 18.75 percent and the overnight lending rate at 19.75 percent.

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