Middle East ETF News Older than One Year
Abu Dhabi bourse takes cover below 4,000 points
August 5, 2013--The ADX General Index fell 0.05% to 3,929.42 points on Monday.
Developers Aldar and RAK Properties lost 2.17% and 1.70%, respectively. Union Cement Co. gained the most, finishing up 8.41% at Dhs1.16. 11 shares advanced, while 13 declined, 7 stocks ended flat.
Source: AME Info
Bahrain market switches into higher gear
August 5, 2013--The Bahrain market index closed 0.64% higher at 1,199.38 on Monday.
Esterad Investment Company jumped 6.18%, finishing at BD0.189. No share declined in value. Al Baraka Banking Group ended flat at $0.755. The oldest Islamic bank in the kingdom said yesterday its achieved in the first six months of 2013 a net profit of $140m, a 16% increase over the same period last year.
Source: AME Info
Tadawul bourse summer rally halted
August 1, 2013--The Saudi Stock Exchange's Tasi index slipped 0.06% to 7,910.66 points.
Market breadth was neutral as 66 shares advanced, while 63 declined. However, market bellwether Sabic fell 0.53% to SR93.25. Islamic insurance firm Jazira Takaful gained the most, finishing Thursday trading 9.83% higher at SR25.70.
Source: AME Info
Barwa shares dive on real estate profit decline
August 1, 2013--The QE 20 Index closed unchanged at 9,706.57 points on Thursday.
Barwa ended down 2.86% at QR25.50. Earlier in the day, Barwa said it posted in the first six months of 2013 a net profit of QR199m compared to QR593m in H1 last year. Barwa said the drop in net profits was attributed to delays in sealing certain deals which were announced earlier this year by the group.. "However, the results also show an improvement in operational efficiency leading to a 25% increase in revenues from rents," the firm added
Source: AME Info
Aluminium Bahrain boost Bahrain Bourse
August 1, 2013--Teh Bahrain All-Share Index advanced 0.32% to reach 1,198.74 points on Thursday, the highest level in six weeks.
Aluminium Bahrain or Alba jumped 3.64% to BD0.57. Earlier in the week, Alba reported net profit of BD61.2m ($163m) for the first half of 2013, up by 7% from BD56.9m ($151m) for the same period in 2012 "due to strong overall operational performance, which was partially offset by lower LME prices," Alba said. Shares of Islamic bank Ithmaar fell by 1.90% to $0.26.
Source: AME Info
Tadawul bourse rises to near 5-year high
July 31, 2013--The Saudi Tadawul All-Share Index gained for the third consecutive session on Wednesday, closing 0.65% higher at 7,915.11 points.
This level represents the highest since September 7 2008, two weeks before Lehman Brothers' bankruptcy triggered the Great Recession. Shares of Sabic, the world's biggest manufacturer of petrochemicals, rose 0.27% to reach SR93.75. The National Shipping Co. of Saudi Arabia, known as Bahri, advanced 0.25%, finishing at SR20.05. Earlier in the day, Bahri said that in connection with the fleet replacement program for the general cargo the it has sold on July 30 its general cargo vessel (Saudi Hofuf) for scrapping after completing her useful life for a sum of SAR28.3m ($7.71m) generating a net gain of SR17.57m ($4.79m) after deducting its book value and all expenses associated with the sale. "The financial impact of this transaction will be reflected in the 3rd Quarter of 2013 results," the firm said.
Source: AME Info
Investors dump UDC shares despite half-year profit increase
July 31, 2013--The Qatar Exchange 20 Index closed 0.40% higher at 9,704.98 points on Wednesday.
United Development Company, one of the top developers in Qatar, plummeted 6.33% to QR22.48. UDC said the reviewed financial statements for the period ending June 30, 2013 revealed a net profit of QR325.4m in comparison to QR298.7m for the same period last year. Ooredoo, formerly Qatar Telecom, gained 1.67% to hit QR139.80. The reviewed financial statements for the six-month period revealed a net profit of QR1.7bn, up 30.7% year on year. Ooredoo (Arabic, meaning "I want") said the group revenue growth of 4.7% was fuelled by strong performances both in Qatar and across the international footprint, particularly in Algeria, Indonesia and Iraq.
Source: AME Info
KSA's Gulf General Coop Insurance with new acting CEO
July 30, 2013-The Tadawul All-Share Index rose 0.90% to reach 7,863.83 points on Tuesday.
Zain KSA was the most liquid share (up 0.50% at SR10.20). Gulf General Cooperative Insurance Company closed unchanged at SR44.90. Earlier in the day, the insurance firm said it appointed Geoffrey Blofeld as Acting CEO as of July 30 2013. "Mr. Blofeld has a great experience in the Insurance industry which allowed him to take over top executive levels in many insurance companies in the region such as the New Omani Insurance and Re-insurance Company, Omani Qatari Insurance Company and Saudi National Insurance Company," said the firm in a filing to the Tadawul bourse.
Source: AME Info
KSA's Gulf General Coop Insurance with new acting CEO
July 30, 2013--The Tadawul All-Share Index rose 0.90% to reach 7,863.83 points on Tuesday.
Zain KSA was the most liquid share (up 0.50% at SR10.20). Gulf General Cooperative Insurance Company closed unchanged at SR44.90. Earlier in the day, the insurance firm said it appointed Geoffrey Blofeld as Acting CEO as of July 30 2013. "Mr. Blofeld has a great experience in the Insurance industry which allowed him to take over top executive levels in many insurance companies in the region such as the New Omani Insurance and Re-insurance Company, Omani Qatari Insurance Company and Saudi National Insurance Company," said the firm in a filing to the Tadawul bourse.
Source: AME Info
Qatar bourse gains despite Industries Qatar share price dip
July 30, 2013--The Doha-based QE 20 Index ended up 0.28% at 9,667.36 points.
Market bellwether Industries Qatar fell 2.90% to QR158.20. Earlier in the day, IQ said its reviewed semi-annual statement revealed a net profit of QR4.6bn in comparison to QR4bn for the same period last year. IQ has with interests in the production of petrochemical, fertiliser and steel products. Abdulrahman Ahmad Al-Shaibi, Chief Coordinator IQ said "The robust year-on-year financial results can be primarily attributed to strong sales volumes following the launch of the group’s new facilities in the petrochemical and fertiliser businesses, and resilient petrochemical and steel EBITDA margins."
Source: AME Info
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