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Qatar bourse rises by 0.44% to 10,109.50
August 23, 2013--Banks lifted Qatari bourse to a near five year high as the benchmark index rose 0.44% to advance to 10,109.50 yesterday.
Qatar International Islamic Bank (QIIB) rose 4.56% and Qatar Islamic Bank (QIB) was up 2.36%.
Bahraini bank shares keep Manama market afloat
August 22, 2013--The Bahrain All-Share Index closed 0.26% higher at 1,202.99 points on Thursday amid muted trading.
Only three shares gained, while no listed security lost value. Islami Bank Al Salam Bahrain (up), Bank of Bahrain and Kuwait and Ahli United Bank gained 2%, 0.98% and 0.72%, respectively.
EGX: Connectivity project with Borsa Istanbul delayed on political developments
August 22, 2013--The Egyptian Exchange (EGX) and Borsa Istanbul signed a memorandum of understanding on June 26, 2012 as to develop a framework of connectivity between the two markets. Both exchanges have duly embarked on the connectivity project and recently finalized its technical components.
Market readiness, however, is a pending issue since brokers from each side need to commit resources through bilateral agreements. A site visit in due respect was organized in Cairo to ensure interaction among the brokers
view more Resources boost JSE Saudi bourse to open to foreigners Saudi bourse dips amid muted trading Qatar bourse shaves 10,100 points, lenders advance Abu Dhabi market index eyes 4,000 points Union Properties hits 3.5-year high, Arabtec flat as it denies merger talks Bank of Sharjah secures $200m club loan
August 22, 2013--The JSE was trading against the downward emerging market trend, with the Top 40 gaining 0.43% at 38 550 just after lunch on Thursday.
Resources were leading the charge, with Kumba Iron Ore (+2.73% at R450.97), African Rainbow Minerals (+2.69% at R191) and Amplats (+2.53% at R416.06) among the top gainers.
August 22, 2013--A long-awaited opening of Saudi Arabia's stock market to direct foreign investment appears near, industry executives and fund managers say-a reform that could give equity investment in the Gulf its biggest boost for years.
Hopes have been raised and dashed several times over the last few years. While the Saudi government has long considered the reform and has been making technical preparations, it has never set a date for opening the market.
August 22, 2013--The Tadawul All-Share Index closed down 0.27% at 8,192.39 points on Thursday.
As many Saudi families are still on their annual leave during the ultra-hot summer months in the kingdom, trading turnover was low. Sabic closed unchanged at SR99. Jazira Takaful jumped 10% to SR66. Wafa Insurance lost the most, finishing the week 3.30% lower at SR80.50.
August 22, 2013--The QE 20 Index closed 0.44% higher at 10,109.50 points on Thursday, a near 5-year high.
Banks were once again on the top of the buying list, with Qaatar Islamic, CBQ and International Islamic Bank advancing 2.36%, 0.43% and 4.56%, respectively. Zad Holding Co. declined by 1.78% to QR66.40. Doha Bank added 0.18% to reach QR55.90. Earlier in the day, the lender announced that its wholly owned subsidiary, Doha Bank Assurance Company LLC (DBAC), has been affirmed Counterparty Credit and Insurer Financial Strength Rating of BBB with a Stable Outlook, by Standard and Poor's (S&P). Dr. Raghavan Seetharaman, Doha Bank Group CEO said, "We are very pleased that S&P continues to recognize the performance of Doha Bank Assurance Company and its unchanged rating constitutes an independent assessment and encouragement of our ongoing progress."
August 22, 213--The ADX General Index gained 0.72% to reach 3,949.26 points, With only three shares ending in the red, the gauge reached the highest level since Sep. 21 2008, six days after Lehman Brothers filed for bankruptcy under chapter 11.
Shares of Aldar Properties rebounded by 0.70% to reach Dhs2.86. RAK Bank and Abu Dhabi Commercial Bank advanced by 7.14% and 2.51%, respectively. Trading volumes have remained low as only 105m stocks were traded, valued at Dhs165.3m.
August 22, 2013--This trading session marked the first time sinece Nov. 6 2008 that the gauge closed above 2,700.
Dubai's second developer Union Properties surged 10.37%' closing as a top gainer at Dhs0.543. Arabtec was the most liquid stock and ended even at Dhs2.65. Earlier in the day, the construction giant denied media reports that it was in merger talks with either Kuwait's contractor Combined Group Contracting or with Saudi Oger. Nevertheless Arabtec was continuing to review opportunities in Saudi Arabia and Kuwait. Arabtec "will disclose any development in line with the regulations of the Dubai Financial Market," said the statement. Around 780m shares were traded, valued at Dhs810m.
August 21, 2013--Like its sister market in Dubai, the Abu Dhabi bourse edged up slightly on Wednesday and closed 0.52% higher at 3,921.00 points.
The market was mostly driven up by banks and consumer staples. Shares of Bank of Sharjah closed unchanged at Dhs1.70. Earlier in the day, BoS said it signed a 2-year club term loan facility worth $200m. The proceeds will be used for general business purposes. The group of banks consists of National Bank of Abu Dhabi (as coordinating lender), Commercial Bank of Dubai, First Gulf Bank, Germany's Commerzbank and Wells Fargo.
