Middle East ETF News Older than One Year
Bahrain Bourse rally halted by bank shares
March 19, 2013--The Bahrain All-Share Index ended one of its longest gaining streaks Tuesday, closed down 0.94% at 1,115.77.
The 9-day rally was mainly halted by financials, National Bank of Bahrain or NBB dived 9.68% to BD0.56. Islamic Bank Al Baraka closed unchanged at $0.76. Earlier in the day Al Baraka said in a statement to the bourse the annual general meeting held here today approved the distribution of a cash dividend to the shareholders to US$35.5m (3.5 cents for each share). "The meeting also approved the proposed distribution of one bonus share for every 30 fully paid up shares to the shareholders registered as of the date of this meeting (amounting to $33.8m from the retained earnings after obtainment of the required official approvals.
Source: AME Info
Doha Insurance dives as EGM for capital increase is postponed
March 14, 2013--The QE 20 Index closed 0.60% higher at 8,583.78 points.
Market heavyweight Industries Qatar advanced 0.75% to reach QR175.10. Doha Insurace plummeted 5.19% to close at QR26.50. Earlier in the day, the insurer said the annual general assembly approved the proposal of the board of directors to distribute to the shareholders a cash dividends of 10% from the share par value i.e QR1 for each share in addition to bonus share at the rate of 10% i.e. one bonus share for each ten shares. However, "Due to lack of quorum for a hearing by the extraordinary general assembly in respect of amending the text of Article (6) of the Articles of Association of the company to increase the company's capital."
Source: AME Info
Abu Dhabi-listed developers return to growth path
March 14, 2013--The ADX General Index advanced 0.73%, closing at 3,030.37 points Thursday.
Eshraq Properties (up 1.64%) was the most liquid share, while RAK Properties jumped 3.57%. Merging developers Aldar and Sorouh, the top real estate firms in the UAE capital, gained 0.72% and 0.58%, respectively.
Source: AME Info
Mid-cap shares defy Dubai market decline
March 14, 2013--With Emaar ending flat at Dhs0.486 and Arabtec closing down 0.94% at Dhs2.11, the DFM General Index ended Thursday trading off 0.30% at 1,916.21 points.
Like yesterday, shares from the "second row" gained in value. Shuaa Capital advanced the second day straight to hit Dhs0.587 (up 0.51%). Air Arabia gained likewise half a percentage point and finished at Dhs0.923. Union Properties added 0.24% to close at Dhs0.41. Market breadth was neutral as 13 stocks advanced, while 14 declined. Some 210m shares were traded, valued at Dhs225m.
Source: AME Info
DP World rises to 4.5-year high
March 14, 2013--NASDAQ Dubai-listed shares of Dubai Ports (DP) World, the 3rd biggest maritime port operator, jumped 5.882% to reach $14.40 Thursday.
This represents the highest price level since the beginning of Sep. 2008, shortly before Lehman Brothers went bankrupt and triggered the global financial crisis. The FTSE NASDAQ Dubai UAE 20 Index index closed 0.96% higher at 2247.33.
Source: AME Info
DGCX Selects MSCI Indices for Emerging Markets Equity Products Expansion
March 13, 2013--Dubai Gold and Commodities Exchange (DGCX) announced today that it has signed a licensing agreement with MSCI, a leading provider of investment decision support tools, to create a futures contract based on the MSCI India Index.
The MSCI India Index represents 72 locally listed entities in India and covers approximately 85% of the Indian equity market[1]. The MSCI India Index is designed to measure the performance of large and mid cap companies in India. The DGCX MSCI India Index Futures will act as an efficient hedging tool and will also facilitate trading mandates of global institutional investors seeking exposure to one of the world’s largest and fastest growing Emerging Markets.
Source: Dubai Gold and Commodities Exchange (DGCX)
KSA's National Medical Care accomplishes IPO mission
March 13, 2013--The Saudi bourse continued its oscillograph-style trading on Wednesday.
The Tadawul All-Share Index gained 0.56% to reach 7,025.37 points. Since the start of 2013, the gauge has been trading in a range between 7,000 - 7,165 with narrowing Bollinger bands. Sabic added 0.27% to reach SR93.50. National Medical Care Co. successfully completed its IPO in Riyadh, as the 2003-founded healthcare firm listed 13.5m shares, representing 30.10% of the company. National Medical Care opened at SR81 and closed at SR122 on the first day of trading
Source: AME Info
Qatar bourse consolidates above 8,500 points
March 13, 2013--The QE 20 Index advanced 0.25%, closing at 8,533.32 Wednesday.
The banking and industrials sector indices outperformed, while insurers performed weaker. Al Khaleej Takaful Group closed flat at QR48.30. At the Islamic insurer's AGM and EGM, shareholders gave green light to the board of directors' recommendation to distribute cash dividends to shareholders by 10% of the paid up capital QR1 per share.
Source: AME Info
DP World hits near 2-year high
March 13, 2013--The FTSE NASDAQ Dubai UAE 20 Index 0.23% higher at 2225.96 today.
DP World jumped 3.11 percent to hit $13.60, the highest price level since May 2011. Interior designer Depa Ltd. closed unchanged at $0.42.
Source: AME Info
Saudi bourse joins global 'pause' mood
March 12, 2013--The Tadawul All-Share Index ended Tuesday trading 0.63% lower at 6,986.45 points as most indices in Asia, Europe and the U. S. fell slightly after reaching record- and multi-year highs.
Gulf General Cooperative Insurance Company lost the most in Riyadh, closing off 6.36% at SR55.25. Sabic, the world's top petrochems producer, finished unchanged at SR93.35.
Source: AME Info
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