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Banks keep Bahrain Bourse afloat
March 6, 2013--The Bahrain All-Share Index advanced 0.47% Wednesday, closing at 1,097.98 points.
Islamic bank Gulf Finance House, known as GFH, surged 4% to reach $0.13. Its rival Ithmaar bank closed 2.63% higher at $0.195. Khaleji Commercial Bank failed to jump on the bulls' bandwagon, ending off 2.63% at BD0.037.
Gulf Warehousing get shareholders' nod for distributing bonus shares
March 6, 2013--The QE 20 Index added 0.18% to close at 8,495. 25 points Wednesday.
Qatar National Bank, the GCC's biggest lender in relation to assets under management, gained 1.54%, finishing at QR132.10. Gulf Warehousing Co. finished even at QR44.00. On Tuesday, the logisics firm's shareholders approved yesterday the distribution of 20% bonus shares.
Saudi bourse stabilises amid positive market breadth
March 5, 2013--The Riyadh-based benchmark index Tasi ended even at 6,953.21 points Tuesday.
Sabic advanced 0.27% to reach SR92.25. Wafa Insurance lost the most (off 3.08% at SR70.75).
Almarai to launch second Saudi riyal-sukuk
March 4, 2013--The Saudi Stock Exchange's benchmark index Tasi closed 0.45% lower at 6,956.53 points.
While market bellwether SABIC added 0.27% to reach SR92. Dairy food giant Almarai ended unchanged at SR66.00. Earlier in the day, Almarai said it plans to issue its second tranche of an SR-denominated Islamic bond (sukuk) under its sukuk programme, totaling SR2.3bn ($613m), in line with the approval of the extraordinary general assembly held on Nov. 19 2011. This second tranche of Sukuk will be a private offering to sophisticated investors resident in the Kingdom of Saudi Arabia. Subject to market conditions, Almarai will hold several meeting during the next two weeks, with interested investors. "Shareholders will be updated with any progress in this regard," said Almarai which has mandated NCB Capital to act as sole dealer for this second tranche of sukuk.
Bahrain's Investcorp seals $155m private equity deal
March 4, 2013--The Bahrain All-Share Index closed off 0.34% at 1,093.73.
Bahrain Islamic Bank lost the most (down 5.19% at BD0.073). Its rival Ithmaar Bank gained the most (up 8.33%), Private equity giant Investcorp (not traded) said it completed the sale of Europe's industrial supplier IPH Group to PAI Partners, Paris-based PE firm. The deal generated in excess of EUR120m ($155.85m).
Banks weigh on Bahrain bourse
February 28, 2013--The Bahrain All-Share Index declined 0.67% to 1,089.94 points Thursday.
Nass Corp. gained the most (up 1.83%). Khaleeji Commercial Bank dived 7.50% to BD0.037. Islamic banks Salam Bank Bahrain (off 4.90%) and Ithmaar Bank (2.94% lower) also dragged the Manama-based gauge down.
Doha bourse ends 5-day losing streak
February 28, 2013--The QE 20 Index ended up 0.44% at 8,528.58 points.
Qatar National Bank advanced 0.15% to close at QR129. Doha Bank surged 1.82%, finishing at QR44.80. Qatar Insurance fell 2.42% to QR52.50. Qatar National Cement Co. slipped 0.29% to QR104. Earlier in the day, National Cement said Qatar National Cement said the financials for 2012 revealed a net profit of QR425.3m in 2012 versus QR456m in 2011. The company’s earnings per share (EPS) in 2012 amounted to QR8.66 versus QR9.29 in 2011. "The Board of Directors recommended a dividend payout per share of QR6, representing 60% of nominal value," said the firm.
Dana Gas shares consolidate above Dhs0.50
February 28, 2013--The ADX General Index declined 0.38% to close at 3.044. 89 points Thursday.
Real estate shares in particular weighed on the gauge, with Aldar Properties (off 1.91%), Sorouh Real Estate (down 1.55%) and Eshraq Properties (8.82% lower) on the retrea, while RAK Properties outperformed (gaining 1.80%). Sharjah-based Dana Gas jumped 2%, finishing at Dhs0.51.
Arabtec plummets over 9 pct, names new CEO
February 28, 2013--The DFM General Index closed Thursday trading 0.61% lower at 1,927.10 points.
The UAE's first construction firm Arabtec was in the focus, ending off 9.80% at Dhs2.67. Earlier in the day, Arabtec said it has appointed Hasan Ismaik to replace Riad Kamal as chief executive officer, and said it plans to raise Dhs6.4bn ($1.74bn) through a rights issue and a convertible bond, Bloomberg has reported. Kamal resigned as CEO, the company said, without providing details. Arabtec plans to issue 3.18 billion shares at Dhs1.5 each, the company. It will sell $450m in convertible bonds and pay no dividend for 2012. The funds will be used to fund internal growth, acquisitions and joint ventures, it said. Gains in market heavyweights Emaar (up 1.34%) failed to lift the sentiment at the DFM, where 10 shares advanced, while 20 declined.
Banks weigh on Bahrain bourse
February 28, 2013--The Bahrain All-Share Index declined 0.67% to 1,089.94 points Thursday.
Nass Corp. gained the most (up 1.83%). Khaleeji Commercial Bank dived 7.50% to BD0.037. Islamic banks Salam Bank Bahrain (off 4.90%) and Ithmaar Bank (2.94% lower) also dragged the Manama-based gauge down. [AMEInfo.com]
