Middle East ETF News Older than One Year
ADX in search to award market making licence
January 1, 2014--The Abu Dhabi stock exchange is in talks with banks and financial institutions to award a licence for market making.
The move comes amid efforts by financial regulators to make the UAE's bourses as liquid as the exchanges of New York and London.
Market makers are intermediaries that keep trade flowing by buying and selling stocks when no other buyer or seller is available.
Source: The National
Bawan Co. clinches top gainer spot
December 31, 2013--Saudi Arabia's benchmark Tadawul All-Share Index (TASI) managed a second straight rise Monday, marking another gain of 0.3 percent.The index wavering within a range of 44.4 points ended nearly 25.3 points higher to 8,520.02. On year-to-date basis, it showed a yield of 25.3 percent.
Med cap indices showed the best performance, advancing more than half percent. All sectors extended gains except Media and Banking, which pared 19.2 points jointly. Remaining 13 sectors showed a collection of 416 points.
Source: Zawya
QE extends losses to 3rd session ahead of QP unit IPO
December 30, 2013--The Qatar Exchange yesterday opened the week weak, ahead of the QAR3.23bn initial public offering of Qatar Petroleum unit,
which will hit the market tomorrow.
Source: Zawya
Tourism and agriculture stocks dominate trading
December 30, 2013--Saudi Arabia's benchmark Tadawul All-Share Index (TASI) dug in at 8,494.76 points Sunday, reversing after a 3-day plunge.
Spending most of the session in the downward territory it took a sharp uplift just before the closing bell, gaining more than 13.6 points or 0.16 percent for the entire day.
The market cap indices all witnessed a positive change for the day. Most of the sector indices showed modest gains, accumulating an aggregate of 547 points.
Source: Zawya
Local retail investors' selling pressure drags bourse
December 27, 2013--Ahead of the QR3.23bn initial public offer (IPO) of a Qatar Petroleum subsidiary, local retail investors were net sellers to the tune of QR132mn, which dragged the Qatari bourse, making it the worst performer among the Gulf bourses during the week.
Of the five sessions, three of them were in the negative turf in the week that witnessed Mesaieed Petrochemical Holding Company (MHPC) announce its 323.19mn shares at QR10.2 a piece through a maiden offer, which will hit the market next week.
Source: Zawya
UAE stocks have more room for growth
December 25, 2013--The UAE stock market is capable of growing by around 15-20 per cent next year while the short-to medium-term outlook is bullish, industry experts said.
"Real estate shares are recovering due to the recovery in real estate market, Dubai in particular. Abu Dhabi realty sector still has room for growth in 2014. The recovery in Abu Dhabi real estate market has not reached the same level as in Dubai," Mohammad Ali Yasin, managing director at NBAD Securities,, told Gulf News.
Source: Zawya
UAE markets close slightly higher
December 23, 2013--UAE indices improved slightly on strong sentiment on Monday due to International Monetary Fund raising its outlook for the US economy and Fed's plan to taper bond buying ease doubts about the future.
Dubai's benchmark index-DFM-closed 0.38 per cent higher at 3237.19 points, led by banks, insurance and services shares
Source: Zawya
Qatar shares edge down ahead of MPHC offer
December 23, 2013--The Qatar Exchange yesterday reopened after the National Holidays break on a weaker note as local retail investors largely resorted to selling, ahead of Mesaieed Petrochemical Holding Company's (MPHC) QR3.23bn initial public offering.
Severe selling was seen at the transport, real estate and insurance counters as the 20-stock Qatar Index (based on price data) fell 0.63% to 10,402.77 points.
Source: Zawya
Insurance stocks surge 2.82%
December 23, 2013--Saudi Arabia's benchmark Tadawul All-Share Index (TASI) continued a positive drive Sunday, advancing half percent further.
While curving in the upward territory throughout the day it added 41.56 points, closing at 8,551.23 points. On an YTD basis, TASI registered a positive return of 25.73 percent. Micro cap with 1.2 percent positive change remained prominent among market cap indices.
Source: Zawya
Standard & Poors Dow Jones Launch a Stand Alone County Index for Palestine and The Palestine Exchange is under the radar of FTSE Indices
December 23, 2013--S&P Dow Jones announced on 18 December 2013 that it has added coverage of Palestine to its suite of frontier market indices.
The Palestine index is currently a standalone country index. Palestine will remain on S&P Dow Jones Indices watch-list for potential future inclusion in the S&P Frontier BMI and Dow Jones Global Total Stock Market.
In the same context, FTSE Indices informed the PEX that in 2014, FTSE will be reviewing the eligibility of including Palestine as a Frontier market within the FTSE Country Classification scheme.
Source: Palestine Exchange
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