Middle East ETF News Older than One Year
Qatar index's tour above 10,000 points short-lived
August 15, 2013--After closing above 10,000 points for the first time in 5 years, the QE 20 Index shed 1.20%, closing at 9,886.68 points on Thursday.
All sector indices delined, with the exception of the transporation gauge. Market bellwether Industries Qatar closed off 2.03% at QR159.10. Qatar Gas Transport or Nakilat gained the third session straight, finishing up 2.28% at QR19.73. On Wednesday, ratings agency Fitch said it affirmed Nakilat's senior secured debt rating at 'A' and its subordinated debt rating at 'A-' with stable outlooks, respectively.
Source: AME Info
Dana Gas hits one-month low
August 15, 2013--The ADX General Index closed on Thursday 0.08% higher at 3,882.18 points.
Arkan Building Materials hit the top of the charts, advancing 3.95% to reach Dhs0.79. Dana Gas lost 1.61% to close at Dhs0.61. A tiny volume of 40m shares was traded, valued at Dhs134.3m.
Source: AME Info
Lackluster Saudi bourse dips slightly, Sabic ends even
August 14, 2013--The Saudi Tadawul All Share Index declined 0.36% to 8,085.5 points on Wednesday.
Sabic, the Saudi bellwether and world's biggest producer of petrochems, closed unchanged at SR96.25. Saudi Kayan Petrochemical Company. Sabic affiliate Saudi Kayan Petrochemical Company, in which Sabic holds a 35% stake as the biggest shareholder, was the most active share by volumes, closing 2.51% higher at SR12.25. Forty shares advanced, while 88 declined.
Source: AME Info
Bahrain Duty Free records higher sales, rising profit
August 14, 2013--The Manama-based Bahrain All Share Index slipped by 0.11% to 1,196.98 on Wednesday.
Financials were mostly on the winning side, as Arab Insurance Group or Airg gained the most (up 8.57% at $0.38). Bahrain Duty Free Shop Complex closed flat. Earlier in the day, the duty free operator at Bahrain International Airport said it earned in the second quarter a net profit of BD1.9m ($5.04m), up from BD1.413m ($3.7m) in the same period last year. The net income for the first half in 2013 amounted to BD3.562m ($9.448m), up from BD3.28 ($8.7m).
Source: AME Info
New Monthly Volume Record for DGCX Indian Rupee Futures in July
INR futures sets new monthly volume record of 1,252,965 contracts
Trading volumes in July up 55% year-on-year
Year-to-date volumes rise 91%
August 14, 2013--DGCX's currency segment continued to contribute a significant share of volumes, recording a year-on-year (YOY) growth of 61% with 1,450,041 contracts traded.
Dubai Gold and Commodities Exchange (DGCX) recorded a robust month of trading activity with total trade value of US$ 44.68. July volumes registered a significant growth of 55% over the same period last year.
Currency volumes were primarily driven by Indian Rupee (INR) futures, with the contract recording its highest ever monthly volume - trading 1,252,965 contracts in July, a 40% growth over the same period last year. Trading in other currency pairs such as in Euro and Yen were also increased substantially.
Source: Dubai Gold and Commodities Exchange (DGCX)
Qatar market gains on post-Eid trading session
August 13, 2013--On its first trading session after the Eid ul-Fitr holidays, the Qatar Exchange 20 Index closed 0.67% higher at 9,913.84 points on Tuesday, steadily approaching a 5-year high.
No company news or press releases were issued today. Qatar National Bank gained 2% to reach QR180. Qatar German Co. Medical lost the most (down 2.91% at QR15).
Source: AME Info
Saudi bourse soars on post Eid
August 13, 2013--The Tadawul All-Share Index gained 0.53% to reach 8,114.75 points on Tuesday.
Today's session marked the first after the long Eid ul-Fitr holidays and the 6th consecutive gaining session in Riyadh. Earlier in the day, Arab News reported the Kingdom Saudi was ranked first in the volume of assets of sovereign wealth funds (SWFs) among the GCC countries at $641bn (SR2,400bn ) followed by the United Arab Emirates at $397bn (SR1,489bn). Shares of market bellwether Sabic gained 1.32% to reach SR96.25.
Source: AME Info
Khaleeji Commercial Bank dives on Q2 profit decline
August 13, 2013--Manama-listed shares were swinging between gains and losses on Tuesday, pulling the Bahrain All-Share Index down by 0.12% to 1,198.33 points.
Khaleeji Commercial Bank lost 2% to hit BD0.049. Earlier in the day, the lender said it generated in the second quarter a profit of BD148k, down from BD463k in the same period last year. However, the half-year profit increased to BD450k, up from a loss worth BD128k in H1 2012. [AMEInfo.com]
Source: AME Info
Egypt: Cabinet-Economic Road Map Ready By End of August
August 12, 2013--Egypt's cabinet said it has started drafting a document for an economic road map to formulate a strategic vision of the country's future and make timetables for short and long-term projects.
In a meeting headed by Prime Minister Hazem al-Beblawi on Monday, the cabinet agreed that the document should pertain to the current economic situation and the biggest challenges of this phase.
Source: AME Info
Laws of gravity pull Abu Dhabi bourse down
August 12, 2013--The ADX General Index closed 0.57% to 3,877.16 points on Monday amid dull trading.
Fujairah Building Industries lost the most (down 8.60%). Ras al-Khaima White Cement posted the biggest advance (6.67% higher). The Abu Dhabi market measure gained 47 percent year to date, triggering worries the rise might indicate an overheating against the backdrop of the MSCI euphoria. In mid-June, global index developer MSCI uupgraded the UAE to Emerging Market status from Frontiert Market, a move that is expected to attract more liquidity from fund managers worldwide covering emerging markets like theb BRIC, South Korea or Turkey.
Source: AME Info
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