GCC markets recovered lost ground in June, as the positive performance of Saudi equities lifted the broader index. The S&P GCC composite index gained 2.5% for the month, increasing its yearly gains to 9.8%. The much-anticipated decision regarding Kuwait's emerging market upgrade was positive, with the index provider upgrading Kuwait subject to the implementation of certain changes by the end of November. Sings were positive in global markets as well, with most of them erasing the losses incurred during the previous month. Next month's OPEC meeting is expected to have a bearing on the Oil markets, with several members indicating a possible extension of the production cut deal.