Middle East ETF News Older than One Year
UAE stocks decline again
November 12, 2013--UAE stock markets continued to witness sell-off on Tuesday after Monday's sharp falls in Dubai, which analysts said was profit-booking ahead of the Expo 2020 announcement.
Both the indices-the Dubai Financial Market (DFM) General Index and ADX Securities Index- dropped the same, 0.78 per cent to close at 2800.69 and 3781.94 respectively.
Source: Zawya
Dubai stocks rise most in a week
November 11, 2013--After a lack lustre week, Dubai stocks started the week on a positive note as volumes rose amid investors' expectations that the emirate may likely win the Expo 2020 bid later this month.
The DFM General Index rose the most in a week, closing 0.17 per cent higher to 2,903.30. Volumes increased to Dh631.93 million shares from Thursday's 516.86 million. The turnover was up 60.35 per cent to Dh785.91 million.
Source: Zawya
DGCX volumes rise 56% 2013 year-to-date volumes hit 12.17 million contracts in October
November 11, 2013--Year-to-date volumes on the Dubai Gold and Commodities Exchange (DGCX) grew 56 per cent in October from the same period last year to total 12.17 million contracts, valued at $25 billion.
Among the key highlights of October trading was the robust growth of precious metals contracts. Gold Futures volumes increased 60 per cent from last month to reach 45,928 contracts while silver futures rose 88 per cent, hitting its highest monthly volume of 2,882 contracts this year.
Source: Emirates 24/7
MSM closes flat amid weak trading
November 11, 2013--European markets advanced, extending five weeks of gains on better-than-expected Chinese industrial data.
Regional markets remained mixed while the Muscat Securities Market general index closed flat at 6,765.09.
Source: Zawya
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.
Source: Zawya
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.
Source: Emirates 24/7
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.
Source: Wall Street Journal
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.
Source: Zawya
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.
Source: Zawya
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.
Source: Zawya
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