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UAE share markets trade in opposite directions
October 23, 2013--The UAE stock markets traded in opposite directions for a third straight day yesterday. While the Dubai Financial Market ( DFM ) index rose on increased investor interest in blue chip stocks, the index in Abu Dhabi declined, paring Monday's gains.
In Dubai, the DFM index closed 0.51 per cent higher at 2,923.89. The investor appetite reflected in higher volume of share transactions. As many as 1.3 billion shares cumulatively worth Dh1.35 billion were traded as investors mainly bought shares in Gulf Finance House, Deyaar, Union Properties, Air Arabia and Arabtec, all of which witnessed an appreciation in value. Of the 31 company stocks traded on the market, 14 rose, while 12 closed lower and 5 remained unchanged.
IPO volume to grow in Gulf markets
October 22, 2013--While the regional and international equity markets have generally been depressed post global financial crisis, early signs of recovery are appearing with higher volumes being traded on some of the regional exchanges, and more interest from foreign investors.
On the other side, the GCC economies are showing positive signs of recovery across a multitude of sectors, including retail, tourism, real estate and infrastructure.
UAE markets trade in opposite directions for a second straight day
October 22, 2013--The UAE stock markets traded in opposite directions on Monday. While the Dubai market index ended fractionally lower on profit-taking, the Abu Dhabi market gauge gained 1.1 per cent as investors viewed
some of the listed stocks as oversold and bought their shares at attractive valuations.
High-value MidEast mergers, acquisitions due by year-end
October 22, 2013--Several high-value mergers or acquisitions are expected to take place in the Middle East and North Africa before the end of the year, ending a dismal 12 months of deal making in the region, according to an international report.
Deal volumes have fallen each of the past four quarters, with only one notable merger during Q3 2013.
Dubai's stock market hits new five-year high
October 22, 2013--Dubai's bourse climbed to a new five-year high on Tuesday but profit-taking pressure was increasingly seen at the highs, while other Gulf markets were mixed.
Shares in Dubai telecommunications operator Du gained 2.4 percent, having risen as much as 5 percent earlier in the day, but trading volume in the stock was thin. Another relatively illiquid stock, Mashreq, surged 7.5 percent.
Egypt: EGX Gains EGP 3.3 Billion
October 21, 2013--Indices of the Egyptian Exchange (EGX) closed Sunday's session collectively up, backed by wide purchases by investors.
The market capital gained about EGP 3.3 billion.
The EGX 30 benchmark index went up by 1.04 per cent to close at 6,049.09 points.
DFM index surges 2.79% on global cues
October 21, 2013--The Dubai Financial Market (DFM), re-opening after the Eid holidays, rallied on Sunday with its benchmark index closing at its highest level since October 2 after the US staved off a potential default.
Last week, the US Senate passed a bill that ended the Washington showdown over the country's debt limit and reopened the federal government.
DGCX volumes grow 69%
October 14, 2013--Year-to-date volumes on the Dubai Gold and Commodities Exchange (DGCX) registered a growth of 69 per cent over last year, with a total of 11,357,329 contracts traded until the end of the third quarter of 2013.
The growth was supported by a 2 per cent year-on-year rise in monthly volumes in September, which saw 988,269 contracts worth $28 billion being traded.
Qatar National Bank profit jumps 14.1%
October 13, 2013--Qatar National Bank ( QNB ) Group reported a 7.1 billion Qatari riyal (Dh7.16 billion) net profit for the nine months ending September 20, 2013.
According to a QNB press release, the results represent a 14.1 per cent increasae over the same period in 2012 and include NSGB Egypt, in which QNB Group maintains a controlling 97.12 per cent stake.
UAE shares trade in opposite directions
October 10, 2013--Bulls continued to hold firm on Dubai shares on Thursday fuelled by insurance, investment and financial services sectors.
The DFM index closed 1.1.7 per cent up at 2830.92 points.
National General Insurance led the gainers list by 14.63 per cent, followed by International Financial Advisors by 13.27 per cent and GGICO by 8.42 per cent.
