Middle East ETF News Older than One Year
Abu Dhabi bourse ends 11-day gaining streak
August 27, 2012--The ADX General Index fell 0.44% to 2,589.60 points Monday.
Market heavyweights Aldar Properties (down 1.60%) and telecom giant Etisalat (off 0.52%) were mostly sold. RAK White Cement bucked the trend and gained two percent
Source: AME Info
Profit booking continues at Dubai market
August 27, 2012--The DFM General Index slipped 0.92% Monday to close at 1,558.83 points.
Bank Emirates NBD fell 3.26% to Dhs2.97. Real estate maintenance specialist Drake and Scull International or DSI dclined 2.10% to Dhs0.891. Earlier in the day, DSI said it decided to postpone its annual general meeting, which was scheduled to be held on August 28, to October 15. Emaar dropped by 1.20% to Dhs3.35. Gulf General Investment Co., known as GGICO, gained the most (up 6.25% at Dhs0.34).
Source: AME Info
Saudi Arabia sees inflation down to 4.7%
August 27, 2012--Kuwait Finance House (KFH) has said the strong performance of the oil sector in Saudi Arabia is expected to reinforce the growth of the GDP during 2012 to reach 6%, while inflation rate is to drop during the second half to 4.7%, Kuna has reported.
The kingdom’s quarterly GDP growth has eased slightly to 5.9% year-on-year in the first quarter of this year from 7.4% year-on-year in the fourth quarter of 2011, due to a moderate growth in the manufacturing sector. However, the quarterly real GDP growth is still considered robust supported by an expansion in the oil sector, KFH said.
Source: AME Info
Developers pull down Dubai market
August 26, 2012--Despite positive input from the Saudi bourse (up 1.44% on Saturday), the Dubai Financial Market General Index dipped 0.90% to close at 1,573.30 Sunday.
Emaar Properties, as the most liquid share, fell 1.74% to Dhs3.39. Deyaar Development dived 8.52% to Dhs0.365. The largest lender in the UAE Emirates NBD bucked the trend, adding 1.32% to reach Dhs3.07. Some 107m shares worth Dhs105m changed hands.
Source: AME Info
Bahrain Tourism Co. leads bourse advances
August 26, 2012--The Bahrain All-Share index added 0.22% Sunday to close at 1,077.70 points.
Bahrain Tourism Co. soared 4.73% to reach BD0.31. Aluminum Bahrain gained 3.75% to close at BD0.498. Ahli United Bank dipped 0.92% to $0.54. With a year-to-date loss of 5.47%, the Manama-based market lags still far behin the other GCC exchanges.
Source: AME Info
Qatar market breaks through 8,500
August 23, 2012--The QE Index added 0.10% to close at 8,503.64, representing the highest level since May 28.
Qatar Islamic Bank or QIB closed flat at QR7.90. Earlier in the day, ratings agency Fitch affirmed the Shari'ah-compliant bank's 'A' rating. QIB said in a statement to the bourse that "This is testimony to the solidity of the bank overall in what remain uncertain economic conditions worldwide. Fitch also recognises that the Qatari government has a history of both willingness and ability to support its banks, which also has a positive influence on the Bank’s rating."
Source: AME Info
Abu Dhabi bourse hits to six-month high
August 23, 2012--United Arab Emirates: The ADX General Index rose for the ninth consecutive trading session Thursday, closing a quarter percentage point higher at 2,955.34.
Abu Dhabi Commercial Bank or ADCB and telecom giant Etisalat fuelled the rise, gainig 0.30% and 0.42%, respectively. Real estate merger candidates Aldar Properties and Sorouh Real Estate closed even. Some 32.5m shares worth Dhs41.5m changed hands.
Source: AME Info
Abu Dhabi bourse hits to six-month high
August 23, 2012--The ADX General Index rose for the ninth consecutive trading session Thursday, closing a quarter percentage point higher at 2,955.34.
Abu Dhabi Commercial Bank or ADCB and telecom giant Etisalat fuelled the rise, gainig 0.30% and 0.42%, respectively. Real estate merger candidates Aldar Properties and Sorouh Real Estate closed even. Some 32.5m shares worth Dhs41.5m changed hands.
Source: AME Info
Last-minute swing keeps Dubai market back to track
August 23, 2012--The DFM General Index gained 0.72% Thursday, closing at 1,587.42 points.
Shares of Islamic property firm Deyaar Development jumped 13.35% to hit Dhs0.399. Deyaar reported on August 15 that its second-quarter net profit has doubled to reach Dhs18.6m, compared with Dhs9.4m in the previous quarter. Islamic home financing company Tamweel (off 0.80% at Dhs1.24) and its major shareholder Dubai Islamic Bank (down one percent at Dhs1.96) failed to join the rebound. Some 126m shares were traded, valued at Dhs117.3m.
Source: AME Info
Alba, Batelco weigh on market index
August 23, 2012--The Bahrain Bourse declined 0.75% to 1,075.33 Thursday. Aluminium Bahrain or Alba dived four percent to close at BD0.48.
Bahrain Telecom, known as Batelco, lost 1.46% in value and ended at BD0.404. Year-to-date, the Baharain Bourse fell by six percent, representing the worst perforamce in the GCC in 2012 (as yet). Islamic bank Ithmaar bucked the trend and gained Thursday 7.14% to reach $0.145. [AMEInfo.com]
Source: AME Info
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