Middle East ETF News Older than One Year
Air Arabia shares fly higher as budget carrier bucks industry downtrend
August 7, 2012--The Dubai equity market index DFMGI dipped 0.15% to close at 1,556.79 points Tuesday.
Sharjah-based Air Arabia added 0.80% to hit Dhs0.651. The low-cost carrier said its net profit for the first half year grew by 22%, amounting to Dhs94m ($25.63m), in contrast to the results of most other carriers worldwide as high oil prices and fierce competition weigh in results. The share advanced by over six percent during the last three months. Gulf General Investment Co. or GGICO dived 5.76% to Dhs0.311. Emaar Properties was the most liquid share and ended down 1.17% at Dhs3.38.
Source: AME Info
Saudi Arabia's Mobily rises on partnership with IBM
August 6, 2012--The Tadawul All-Share Index finished flat at 6,943.64 Monday.
Saudi Basic Industries Corp. or Sabic, the world's largest petrochemicals producer, added 0.27% to reach SR91.50. Etihad Etisalat, known as Mobily, outperformed, closing 1.15% higher at SR66. On Sunday, Mobily said it signed a contract with IBM Company for outsourcing the IT Operation. "This partnership will lead to several technical advantages in final product quality, and in managing and securing the applications and ensuring business continuity (sustainability)," Mobily said.
Source: AME Info
Bahrain Bourse falls deeper into the red
August 6, 2012--The Manama-based Bahrain All-Share Index declined by half a percentage point to 1,090.49 points Monday.
Aluminum Bahrain or Alba lost the most, ending off 3.85% at BD0.50. Year-to-date the Bahrain Bourse lost 4.65%.
Source: AME Info
Qatar Exchange advances the fifth session straight
August 6, 2012--The QE Index added 0.10% to hit 8,344.87 points Monday, although most shares ended even or in the red.
Qatar Telecom or Qtel supported the index rise, closing up 2.40% at QR107.50. Qatar National Bank fell 0.40% to QR133 as most banks lost value.
Source: AME Info
Union Cement Company soars on half-year results
August 6, 2012--The Abu Dhabi market measure ADXGI slipped by a quarter percentage point to 2,504.76 points.
Ras al-Khaima-based Union Cement Co. or UCC jumped 9.41% to hit Dhs0.93. Earlier in the day, UCC said its net profit attributable to owners of the company during the first half-year reached Dhs20.679m, up from a 14.903m loss in the corresponding period the year before. The cost of sales ratio decreased to 81.3% of total sales, down from 94.8%. Shares of Aldar Properties were hit by profit takings, closed off 2.42% at Dhs1.22.
Source: AME Info
Dubai market drops as investors take some profits
August 6, 2012--After rising non-stop for five sessions, The DFM General Index shed one percent Monday, closing at 1,559.06 points.
The decline was broad, as 17 out of 26 traded shares declined, while six advanced. Deyaar Development, the Islamic real estate firm, was most actively traded by volumes, closing down 5.26% at Dhs0.36. Arabtec Construction bucked the trend by gaining 0.66% to reach Dhs3.04.
Source: AME Info
Bahrain Bourse falls deeper into the red
August 6, 2012--The Manama-based Bahrain All-Share Index declined by half a percentage point to 1,090.49 points Monday.
Aluminum Bahrain or Alba lost the most, ending off 3.85% at BD0.50. Year-to-date the Bahrain Bourse lost 4.65%.
Source: AME Info
BFX total trading turnover crosses $10bn
August 6, 2012--The Bahrain Financial Exchange (BFX), the first multi-asset exchange in the Middle East and North Africa (MENA) region, proudly announces achieving a key milestone with the
cumulative (single-side) trading turnover value crossing the $10bn mark on the 1st of August 2012, with the total trading volume increasing to 196,431 contracts. [AMEInfo.com]
Source: AME Info
FTSE NASDAQ Dubai UAE 20 Index gains the fourth day straight
August 2, 2012--The FTSE NASDAQ Dubai UAE 20 Index closed at 1653.57 today, up 0.73%, from the previous close.
The index tracks 20 liquid stocks listed on DFM, the Abu Dhabi Securities Exchange and NASDAQ Dubai. It has been designed as a hedging and investment mechanism for GCC and international investors. Shares of port operator DP World rebounded 0.40% to close at $10.14.
Source: AME Info
Kuwaiti banking shares face selling pressure
August 2, 2012--The KSE Market Index could not benefit from the summer rally in the UAE and KSA.
The gauge closed unchanged at 5,723.61 Thursday. National Bank of Kuwait and Commercial Bank of Kuwait fell by one percent and five percent, respectively. Year-to-date the KSE market fell 1.56%, in stark contrast to Dubai's DFMGI (up 14.57%) and KSA's Tasi gauge (7.40% higher).
Source: AME Info
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