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KSE ends 40.89 pts higher as volume turnover tapers
November 10, 2013--NAPESCO jumps 45 fils; Wataniya Telecom tumbles
Kuwait stocks pulled higher Sunday, extending the gains to fourth straight session. The index, after a wobbly start, climbed 40.89 pts to 7,980.4 points helped by moderate buying in some of the mid and low caps. The heavyweights however were subdued even as investors await fresh cues.
The KSX 15 measure fell 1.15 pts to 1,101.29, almost unchanged from the start of the month, while weighted index inched 0.51 pts lower. The volume turnover meanwhile slipped below the 300 million mark for the first time during the month. 283.64 million shares changed hands -- a 13.33 percent fall from the previous session.
S&P Dow Jones to upgrade UAE to 'emerging market' status
The status will be effective September 2014
November 10, 2013-International equity index compiler S&P Dow Jones Indices has decided to upgrade the United Arab Emirates to emerging markets from frontier market status, with effect September 2014, the company said on its website.
S&P Dow Jones said the UAE's current foreign ownership limit of 49 per cent is satisfactory and there is an expectation that it will be relaxed in coming years.
Egypt Retains Emerging Market Tag, for Now
November 10, 2013--There weren't any big surprises for the Middle East in MSCI's semi-annual review, except one: Egypt.
The Arab country finds no mention in the index compiler's review for equity indices released over the regional weekend-a surprise for most investors after MSCI in June warned that Egypt might lose its coveted emerging market status amid political and economic turmoil there.
Blue chips drive Tadawul index to fresh record
November 7, 2013--The prospects for the Saudi stock market remain strong in the medium term due to robust national growth and strong corporate profitability, top economists and traders said as the Tadawul All-Share Index (TASI) rose to a five-year high on Thursday.
The index climbed 74 points or 0.9 percent to 8,263 points, its highest level since September 2008. "At current prices, the market is fairly valued so any upside will have to be carefully examined in terms of sustainability and liquidity," John Sfakianakis, chief investment strategist at Masic in Saudi Arabia, told Arab News.
Tadawul continues upward momentum
November 7, 2013--The Saudi stock market sustained its upward march Wednesday, closing the sixth consecutive session in green.
The Tadawul All-Share Index (TASI) wavering within a range of 31.7 points rose to 8,188.46 points. It added further 17.72 points or 0.22 percent for the entire day.
Large cap remained prominent among market cap indices, posting a daily growth of 0.36 percent. Most of heavyweights extended gains, with Saudi Telecom Co. outdid rest of its peers, surging 1.7 percent to close at SR50.75. The bellwether SABIC (Saudi Basic Industries Corp.) rose by one and half percent.
KSE up 22.89 pts, extends gains to 2nd straight day
November 6, 2013--Kuwait stocks pulled higher Wednesday, extending the gains to second straight session. The index rose 22.89 pts to 7,918.74 points paring steeper gains earlier in the day.
The trading was focused on mid and low caps even as the blue chips remained subdued. After posting modest gains during October, the bourse has retreated slightly in the last week owing to lack of catalysts. The KSX 15 measure eased 2.21 points to 1093.35 pts and is up 84 points so far during 2013 while weighted index inched 0.18 pts lower to 463.92 points. The volume turnover meanwhile ticked higher, stemming the three-day decline. 339.90 million shares changed hands---a 6.46 pct rise from last session.
UAE markets continue to be lacklustre
November 6, 2013--UAE markets continued to be lacklustre as Dubai benchmark remained flat and Abu Dhabi declined yesterday.
The capital's index Abu Dhabi Securities General Index was down 0.21 per cent. The total turnover remained almost unchanged at Dh387.54 million. Total shares traded stood at 215.75 shares. Of the 30 shares traded, 14 closed higher, 11 declined and five remained unchanged.
Tadawul depicts a solid gain
November 6, 2013--The Saudi stock market ended Tuesday's trading session solidly in the green.
The Tadawul All-Share Index (TASI) spending almost entire session in the green territory edged higher to 8,170.73, up 96.97 points or 1.20 percent from previous level. It performed within a trading range of 108.7 points yesterday.
On an YTD basis, TASI again registered a positive return over 20 percent.
All market cap indices finished to the upside, with Large Cap advancing 1.35 percent.
UAE stocks end mixed
November 5, 2013--UAE stocks had a mixed day on Tuesday with the capital's benchmark ending the day in positive territory and Dubai declining for the second straight day amid continuing lower volumes.
The Dubai Financial Market General Index closed 0.31 per cent lower at 2902.62. The total number of shares exchanging hands were 252.68 million, which were worth Dh379.15 million, a drop of 35.79 per cent from the previous session.
DFM announces Q3 net profit of Dh82.8m
November 5, 2013--Dubai Financial Market, the region's only listed bourse, reported on Monday its 2013 third quarter net profit to be Dh82.8 million, compared to a net loss of Dh1.7 million during the same period last year.
During the first nine months of the year, its net profit is up by 361 per cent to Dh179.3 million amid soaring trading value, which has been a combined result of higher volumes and capital appreciation.
