Middle East ETF News Older than One Year
Resilient Dubai market withstands growth worries in China
August 15, 2012--Amid negative input from Asia, the Dubai Finanical Market General Index fell sharply at the opening but eventually regained terrain and closed 0.10% higher at 1,578.98 points.
A fall in the price of copper has triggered worries about the projected soft landing of the China's economy and weighed on Asian markets early Wednesday. At the DFM, shares of real estate maintenance specialist Drake and Scull International or DSI dived 1.94% to hit Dhs0.91. Earlier in the day, DSI reported a net profit of Dhs75m for the first half of 2012 representing a 29% year-on-year. Gains at market heavyweights Emaar Properties (up 0.30% at Dhs3.47) and bank Emirates NBD (gaining 0.67% at Dhs3.02) supported the market index.
Source: AME Info
National Shipping Co. of Saudi Arabia gains on new SR480m-contract
August 14, 2012--In Riyadh, the Saudi Stock Exchange market measure Tasi closed Tuesday 0.04% higher at 6,968.31.
In line with the lacklustre trading ahead of Eid holidays, market bellwether Sabic closed flat at SR91.50. Shares of The National Shipping Co. of Saudi Arabia, known as Bahri, jumped two percent to hit SR18.05. Earlier in the day, Bahri announced that its 80% owned subsidiary The National Chemical Carriers Company Ltd. (NCC) signed a time charter agreements for three chemical tankers with International Shipping and Transportation Company Ltd., a subsidiary of Sabic, for a period of 5 years, with an option of extension for another 5 years period. The value of these time charter agreements is approximately SR480m for the first five years.
Source: AME Info
Kuwait's logistics giant Agility advances on rising revenues
August 14, 2012--The KSE Market added 0.20% Tuesday to hit 5,700 points.
Shares of logistics provider Agility Public Warehousing Co. jumped 2.53% to reach KD0.405. Earlier in the day, Agility said revenues in the second quarter 2012 rose to KD348.8m, representing a 6% increase year-on-year. The Q2 net profit remained flat, compared to the same quarter last year, at KD7.8m.
Source: AME Info
Qatar German Medical falls as losses widen
August 14, 2012--The QE Index in Doha added 0.10% to hit 8,418.29 points.
Shares of Qatar German for Medical Devices Company dived 2.10% to close at QR11.65. Earlier in the day, Qatar German said the reviewed financial statements for the period ending June 30, 2012 revealed a net loss of QR3.4m in comparison to a net loss QR2.1m for the same period last year.
Source: AME Info
Abu Dhabi blue chip shares drive market higher
August 14, 2012--The ADX General Index advanced a quarter percentage point to hit 2,553.56 points, the highest level since May.
Abu Dhabi National Energy Co. or Taqa gained 1.60% to close at a two-month high at Dhs1.27. Taqa reported a 2.8% rise in second quarter net profit, amounting to Dhs447m. Market heavyweight Etisalat, the UAE's first telco firm, added 0.11% to close at Dhs9.10.
Source: AME Info
Dubai market quarrels with 1,580 resistance
August 14, 2012--Profit bookings pulled the equity inded DFMGI lower by 0.25% to 1,577.61 points Tuesday, despite positive input from markets in Asia and Europe.
Most real estate-related shares underperformed with Emaar (off 0.29% at Dhs3.46), Drake and Scull International (0.22% lower at Dhs0.928) and Arabtec (down 1.38% at Dhs2.85) being among the most liquid shares. Islamic insurer Takaful Emarat gained the most (up 15% at Dhs0.69). At the NASDAQ Dubai, shares of global maritime port operator DP World jumped two percent to hit $10.35.
Source: AME Info
Profit booking ahead of Eid drags Saudi stock market slightly lower
August 13, 2012--The Tadawul All-Share Index slipped 0.43% to 6,965.66 points, as only 29 out of 153 traded shares advanced while 105 declined.
Because the end of Ramadan approaches (starting on Friday, August 17), investors prefer to cash in on the bourse's summer rally. Saudi Enaya Cooperative Insurance fell 1.82% to SR54. Earlier in the day, the Islamic insurer said its has received on date a license from The Saudi Arabian Monetary Agency (SAMA) to offer practice medical insurance products.
Source: AME Info
Kuwait bourse recovers slightly
August 13, 2012--The KSE Market Index added 0.20% Monday, closing at 5,689.24.
Unted Foodstuff Industries Group gained the most, ending up 9.9% at KD0.222. Lenders performed in a mixed way, as National Bank of Kuwait or NBK shed two percent to hit KD0960. Gulf Bank of Kuwait advanced four percent, finishing at KD0.400.
Source: AME Info
Qatar Exchange remains on growth path
August 13, 2012--The Doha-based QE Index gained 0.10% to reach 8,412.60 points.
Shares of Aamal Company surged half a percentage point to hit QR15.79. earlier in the day, Aamal Company, which operates in industrial manufacturing, trading and distribution (among other activities) disclosed the semi annual financial statements for the period ending June 30, 2012. The reviewed financial statements for the period ending June 30, 2012 revealed a net profit of QR102.8m in comparison to QR103.3m for the same period last year.
Source: AME Info
Dana Gas half-year net profit soars
August 13, 2012--The Abu Dhabi market index ADXGI advanced a quarter percentage point to close at 2,547.02 Monday.
First Gulf Bank or FGB was themost liquid share, gaining 1.10% to hit Dhs10.05 after Gulf News reported earlier in the day on buy recommendations on FGB quoting several analysts. Dana Gas from Sharjah dived 2.50% to close at Dhs0.40. In the first half of 2012, Dana Gas scored a net profit of Dhs387m, representing an 79% year-on-year increase. "Revenue from the sale of hydrocarbons increased to Dhs1,254m, with gross profit reaching Dhs767m. These figures represent increases of 1% and 13% respectively, compared to the same period last year," Dana Gas said in an e-mailed statement. The net profit for Q2 2012 was Dhs181m compared to Dhs124m in Q2 last year.
Source: AME Info
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