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Dubai market index hits 2,000 points
April 23, 2013-For the first time since Nov. 2009, the Dubai Financial Market General Index (DFMGI) crossed the level at
2,000 points in early Tuesday trading, shortly after the opening.
Batelco gets ready for roadshow
April 22, 2013--The Manama-based Bahrain All-Share Index closed unchanged at 1,088.14 points Monday.
Bahrain Telecom, known and branded as Batelco, finished 1.62% lower at BD0.364. Earlier in the, Batelco said it has mandated banks BNP Paribas and Citigroup "to arrange a series of fixed income investor meetings in Asia, the Middle East and Europe commencing April 23, 2013." Batelco added it may launch an inaugural bond transaction with size remaining "subject to market conditions" and various financial and securities regulations, as outlined in a press release from BNP Paribas and Citigroup, on April 22 2013. "The bonds would be listed on the Irish Stock Exchange from May 2013." Batelco operates in 16 international markets.
Sluggish blue chip shares underperform at Abu Dhabi market
April 18, 2013--The ADX General Index ended Thursday trading insignificantly lower at 3,088.97 points.
Umm Al-Qaiwain posted the biggest increase, ending up 8% at Dhs0.81. Market bellwether Etisalat declined 0.40% to Dhs9.91. Eshraq Properties plummeted 4% to Dhs.48. Merging developers Aldar and Sorouh fell by 0.70% and by 1.12%, finishing a volatile week in April at Dhs1.41 and Dhs1.75, respectively.
Bargain hunters send Bahrain Bourse slightly higher
April 18, 2013--The Bahrain All-Share Index advanced 0.10% to hit 1,093.28 points Thursday.
Bahrain Commercial Facilities gained the most (up 4.27% at BD0.610). National Bank of Bahrain or NBB gained 2%, closing at BD0.510. Year-to-date, the Manama equity gauge surged by 2.60%
CBQ reports higher Q1 profit, shares slip
April 18, 2013--The Qatar Exchange 20 Index advanced 0.15% to reach 8,422.26 points.
The country's second lender Commercial Bank of Qatar, known as CBQ, closed off 1.54% at QR64.00. Earlier in the day, CBQ said its net profit in the 1st quarter rose 7% to QR506m compared with QR471m achieved in the first quarter of 2012, which was up by 13% over Q4 2012.
Bargain hunters send Bahrain Bourse slightly higher
April 18, 2013--The Bahrain All-Share Index advanced 0.10% to hit 1,093.28 points Thursday.
Bahrain Commercial Facilities gained the most (up 4.27% at BD0.610). National Bank of Bahrain or NBB gained 2%, closing at BD0.510. Year-to-date, the Manama equity gauge surged by 2.60%.
Sabic hits 1-month low, Petrochem reduces Q1 loss significantly
April 16, 2013--The Tadawul All-Share Index fell 0.68% to 7,096.99 Tuesday.
Market bellwether Sabic slipped 1.10% to SR92. Its rival National Petrochemical Company or Petrochem ended down 0.77% to SR19.30. Earlier in teh day, Petrochem said its net loss for the first quarter was SR1.3m a decrease in losses of 94% year-on-year. The main reason for the decrease in losses and the start of operating profits in the first quarter of 2013, said Petrochem, "is that the Saudi Polymers company had started up operations on Jan. 19 2013 after project maintenance shutdown."
Kuwait Stock Exchange shaves 7,000 points
April 16, 2013--The KSE Market Index gained 1.32% Tuesday, closing at 7,043.84 points as shares advanced across all sectors with the exception of lenders.
Gulf Investment House was among the top gainers, closing up 8.93% at KD0.061. National Bank of Kuwait, the Northern Gulf state's first lender fell by KD0.010 to KD0.940.
Zain KSA net loss narrows further
April 15, 2013--The Tadawul All-Share Index closed 0.70% lower at 7,145.6 points Monday as global markets were unsettled by China's GDP y-o-y growth of 7.7% in Q1, lower than economists expected.
Shares of Mobile Telecommunications Company Saudi Arabia, known as Zain KSA, declined 0.60% to close at SR8.25. Earlier in the day, the telecom firm said its net loss during Q1 amounted to SR398m, as compared to SR420m for the same quarter last year, representing a decrease in net loss of 5% and a decrease of 10% quarter-on-quarter. Zain KSA said a decline of financial charges by 25% helped to shrink the net loss. On April 3, Zain KSA extended the maturity of a $600m Islamic financing facility for the umpteenth time. The new deadline is May 1, 2013. Since its launch in Dec. 2008, Zain Ksa, which is owned 37% by Kuwait's Zain, has not generated profits.
Losses across the board keep Bahrain bourse at bay
April 15, 2013--The Bahrain All-Share Index finished Monday trading 0.40% lower at 1,087.63 points.
Islamic investment bank Gulf Finance House lost the most (off 7.14% at $0.13). Bahrain Telecom (Batelco) and Aluminium Bahrain (Alba) fell both by half a percentage point.
