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MIDEAST STOCKS-Gulf markets pull back slightly on debt rating cuts, oil
February 10, 2015--Saudi's Dar Al Arkan drops after debt rating outlook cut
Dubai index fails to break through major chart barrier
Dubai's DAMAC plunges further after dividend disappointment
Banks drag
Egypt's Ezz Steel rises as chairman plans to run for parliament
Gulf stock markets pulled back slightly on Tuesday after oil prices slipped...
Gulf markets edge down after rating cuts, oil's pullback
February 10, 2015--Most Gulf stock markets edged down in early trade on Tuesday after oil prices slipped and Standard and Poor's cut credit ratings
and outlooks for several countries in the region.
Decline in oil price saves Egypt EGP 30bn
Egypt is expected to issue the Unified Investment Law by the end of February
February 9, 2015--The sharp decline in crude oil prices over the past five months ended up saving Egypt EGP30 billion, Youm7 reports citing the Minister of Investment.
Since June, the price of crude oil per barrel is down more than 40 per cent.
Minister Ashraf Salman made his remarks during Pepsico’s conference on Sunday.
BlueStar Global Investors-Israeli Equities Hit by Global Volatility Despite Acceleration in Domestic Activity
February 6, 2015--The BlueStar Israel Global Index(R) (BIGI(R)) declined 2.38% in January while the BlueStar Israel Global Technology Index(TM) (BIGITech(TM)) declined 3.10%.
Israeli equity market returns were primarily driven by exogenous factors, including the continued decline in global energy prices, the continued strength of U.S. dollar and the long anticipated announcement of a new European quantitative easing program.
Dubai index jumps the most in Gulf with rebounding crude oil
February 4, 20154--Dubai index jumped nearly 2.5 per cent on Tuesday on the back on the rebounding crude oil.
Other indices in the Gulf region also extended gains.
Weak Asia input weighs on Dubai shares
February 2, 2015--The rally at the Dubai financial market (DFM) general, which started on Sunday, was halted as the gauge lost 1.07 per cent to close at 3,799.18 points on Monday, February 2.
Earlier in the day, HSBC said China's purchasing managers' index, a snapshot for business activity, climbed slightly in January 2015 to 49.7 points from...
Banks keep Bahrain bourse up
February 2, 2015--In Manama, the Bahrain All-Share Index added 0.26 per cent to hit 1,422.75 points on Monday, February 2.
Al Salam Bank Bahrain jumped 7.44 per cent to reach BD0.13. Islamic bank Ithmaar Bank and Khaleeji Commercial Bank advanced by 2.22 per cent and 1.27 per cent, respectively.
Energy shares buck Abu Dhabi market drop
February 2, 2015--The ADX General Index slipped 0.57 per cent to 4,526.46 points on Monday, February 2.
Dana Gas surged 2.17 per cent to hit AED0.47.
Iran's First Exchange-Traded Fund Set To Launch
January 31, 2015--Iran-one of the world's last untapped markets-is set to see its first exchange-traded fund (ETF) launch, ahead of the possible lifting of international sanctions that were imposed on the nation, Reuters reported earlier this week.
Turquoise Partners, a Tehran-based investment firm, said that it is planning to launch Iran's first ETF tracking the Tehran Stock Exchange’s TSE 30 index of 30 of Iran's largest blue chip companies.
S&P Dow Jones Indices-Middle East Index Dashboard
January 30, 2015--As energy prices continued to fall, there were signs of recovery in Middle Eastern equities this month. The S&P Pan Arab Composite LargeMidCap Index gained by 2.2%, aided in particular by Saudi Arabia and Egypt.
Yields on sovereign bonds across the developed world decreased in January. Following the U.S. Treasury market, each of our regional fixed income indices gained on the month.
Shariah indices continued to outperform their equivalents not just in the Middle East, but also across the globe. In Japan, the difference was a notable outperformance by the S&P/TOPIX 150 Shariah by roughly 12% in total return over 12 months.
Commodities continued to disappoint, with Energy (-14%) continuing to prove the laggard. The drop in oil prices slowed down into the end of the month, but the Industrial Metals (-7%), Agriculture (-7%), and Livestock (-8%) sectors also disappointed in January. The bright spot was Precious Metals, where further stimulus in Europe helped the sector to a 6% gain.