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Saudi, Qatar gain on year-end dividends
November 18, 2013--Stocks in Saudi Arabia and Qatar continued to benefit on Sunday from year-end dividend-hunting while Bahrain slipped after some companies posted third-quarter losses. Markets in the United Arab Emirates remained volatile.
Saudi stock benchmark Tadawul All Share Index climbed 0.8 percent to 8,384 points.
The top performer in Saudi Arabia was Southern Province Cement, which is expected to deliver a 5.9 percent dividend yield this year compared with the index average of 3.9 percent, according to consensus analyst estimates from Thomson Reuters. The stock jumped 9.2 percent.
Qatar Exchange Roundup: Strong net buying props up index
November 18, 2013--After a day of hesitation at the beginning of the week, things changed to a better start from Monday, with the bourse performing better during the rest of the week. The improvement on the stock market has been stimulated by a number of factors that include the fact that year-end is approaching when it is time for dividend distribution.
The New York Stock Exchange last week registered new record levels for the first time this year, and regionally, stock markets in the UAE, and Riyadh also put up record performance in the hope of the success in negotiations to settle Iran's nuclear issue.
QE extends rally to 5th day on local buy momentum
November 18, 2013--The Qatar Exchange yesterday opened the week on a stronger note, mainly due to robust buying interests from local retail investors.
Higher buying demand, especially for transport and banking equities, led to a sustained bull run for the fifth straight session.
Kuwait bourse 'retreats' 44.16 pts; volume tapers
November 18, 2013--Kuwait stocks retreated sharply Monday after eking modest gains in the day before. The index slid 44.16 pts to 7868.93 pts as investors locked in profits in select counters led by banks.
Selling was also seen in some of the mid and low caps even as the trading floor sentiment turned negative.
The KSX-15 benchmark shed 8.98 pts to close at 1,077.62 points taking the month's losses to 24 points while the weighted index fell 2.64 pts. The volume turnover meanwhile receded after rebounding strongly in the previous session. 317.98 million shares changed hands--a 15.77 pct drop from Sunday. It had hit a multi-month low earlier last week ahead of the CMA deadline for companies to declare their financial results.
TADAWUL: Energy, cement stocks stay in the limelight
October 18, 2013--The Saudi stock market ended Sunday's trading session solidly in the green. The Tadawul All-Share Index (TASI) closed up 66.62 points or 0.8 percent to 8,383.77, after being up as much as 94 points.
On year-to-date basis, the TASI crossed a positive return of 23 percent. Med cap indices showed the best performance, advancing more than one percent.
UAE markets reverse Sunday declines
November 18, 2013--Led by the biggest stock, Emaar Properties, in Dubai and banks in Abu Dhabi, UAE markets reversed their Sunday declines to post more than one per cent gains on Monday.
Both markets have witnessed high volatility in the past few weeks in the run-up to the Expo 2020 announcement. Last week, Dubai's index was down 2.53 per cent as investors booked profits amid what has been a strong run for the bourse this year.
Egypt boost as agency raises rating
November 16, 2013--Standard & Poor's has raised its sovereign credit ratings for Egypt to 'B-/B' from 'CCC+/C', saying it expected the support from other countries which has propped up government finances to continue.
The military-backed government welcomed the move as a first step towards restoring confidence in an economy hammered by political turmoil that has weighed on investment and tourism for nearly three years.
The upgrade in its long and short-term foreign and local currency sovereign credit ratings reflects S&P's view that authorities have secured sufficient foreign currency funding to manage Egypt's short-term fiscal and external financing needs.
KSE ends week in red zone on speculative trading
November 16, 2013--Trading volume dips 15,66 pct to average 243,73 mln shares
Kuwait Stock Exchange (KSE) ended last week in the red zone. The price index closed at 7,903.74 points, down by 0.45% from the week before closing, the weighted index decreased by 1.51% after closing at 459.69 points, whereas the KSX-15 index closed at 1,082.72 points down by 1.79%.
Furthermore, last week's average daily turnover decreased by 29.51%, compared to the preceding week, reaching K.D 23.80 million, whereas trading volume average was 243.73 million shares, recording decrease of 25.66%.
MSM closes flat in range-bound trading
November 14, 2013--Global stocks fell, with emerging market equities extending the longest slump in seven years and China's leaders failed to outline reform measures.
Regional markets traded mixed while the Muscat Securities Market general index remained range bound for yet another day and closed with gains of 1.08 points at 6,764.98.
TADAWUL: Information technology stocks suffer losses
November 14, 2013--Despite an upward jump (+21.7 points) after the opening bell, the Tadawul All-Share Index (TASI) finished with a surprise decline of 0.38 percent Wednesday.
The index performed within a range of 66.7 points, closing the day at 8,297.79. On year-to-date basis, the TASI's yield reached exactly 22 percent. Med Cap indices fell more than half percent yesterday. All sectors indices closed in the red, except the Industrial Investment sector which gained a small percentage of 0.05 and closed at 6,562.61 points. Remaining 14 sectors lost an aggregate of 360 points for the day.
