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Abu Dhabi investors cautious ahead of earnings season
July 02, 2012--The ADX General Index slipped 0.10% Monday, closing at 2,458.35, as market heavyweight Etisalat fell by half a percentage point to end at Dhs9.19.
Aldar Properties was the most liquid share, gaining 0.90% to reach Dhs1.12. Sorouh Real Estate, Dana Gas and Bank of Sharjah closed unchanged, reflecting the current indifference in the market before the earnings season will kick off. Some 34m shares worth Dhs50.4m changed hands.
Shuaa Capital rebounds, reports successful closure of equity fund
July 02, 2012--The Dubai market gauge DFMGI closed a roller coaster trading dau 0.14% higher at 1,464.57 points. Emaar Properties gained 1.40% to reach Dhs2.89.
Investment bank Shuaa Capital edged up 2.92% to hit Dhs0.669. Earlier in the day, Shuaa said that it has successfully closed its SHUAA Partners Fund 1. "During the Fund’s vintage period, from 2005 to 2012, public equity markets in the UAE (MSCI UAE Index) posted a decline of 78%. Following the sale of two remaining investments, SHUAA Partners Fund 1 has generated an IRR of 7.6% over its investment period," Shuaa said in a statement to the DFM. Logstics provider Aramex did not benefit from the market's last-minute swing into the green and ended 0.60% lower at Dhs1.74. Nine shares advanced, 12 declined and 5 closed flat. Some 70.5m shares were traded, valued at Dhs54.2m.
Bahrain Bourse adances slightly, but remains in the red in H1
June 28, 2012--The Bahrain All-Share Index advanced 0.21% to reach 1,126.71 points Thursday,
ending the first half of 2012 with a small loss of 1.48%. Bahrain Tourism Company surged 5.47% to hit BD0.27. Shares of Islamic bank Ithmaar lost the most, finishing off 8% at $0.115.
Qatar Exchange hits GCC markets' bottom in H1 2012
June 28, 2012--The QE 20 Index declined half a percentage point to hit 8,123.02.
Shares lost across the board, with market bellwether Industries Qatar falling 1.20% to QR125. With a performance of minus 7.41%, the Doha-based bourse is the worst ended the first six months of the year as the worst performing gauge as the Qatari economy, which has been advancing with double-digit growth rates from 2006 to 2011, shows increasing signs of a cooling down.
Abu Dhabi bourse loses most of its first quarter advance
June 28, 2012--On the last trading day of the first half-year, the ADXGI fell 0.90% to close at 2,447.62 points, as market leader Etisalat (off 3.26% at Dhs9.34) and real estate giant bellwether Aldar Properties (down 0.90% at Dhs1.12) weighed in the gauge.
Trading volumes improved to Wednesday as 25m shares were traded, valued at Dhs43m. In the first six months of 2012, the measure added 1.83%, much less than in the first quarter when the ADXGI was up by 6.22% asthe Eurozone debt crisis escalated in Q2 and falling oil prices prevented the Abu Dhbai market to rise against the sluggish global trend.
Dubai market is top GCC performer in H1 2012
June 28, 2012--The Dubai Financial Market General Index (DFMGI) finished Thursday trading flat at 1,451.87 points, ending a six-day losing streak.
Emaar Properties closed one percent lower at Dhs2.80. Investment bank Shuaa Capital jumped 6.77% to hit Dhs0.694. With a profit of 7.40%, the DFMGI is the posted the highest advance among al GCC stock market indexes in the first six months of 2012.
Bahrain Bourse adances slightly, but remains in the red in H1
June 28, 2012--The Bahrain All-Share Index advanced 0.21% to reach 1,126.71 points Thursday, ending the first half of 2012 with a small loss of 1.48%.
Bahrain Tourism Company surged 5.47% to hit BD0.27. Shares of Islamic bank Ithmaar lost the most, finishing off 8% at $0.115.
Qatar's Aamal gains on joint venture with South Korea's C&C Lightway
June 27, 2012-With the exception of the financial sector, Qatar-listed equities fell across the board Wednesday, pulling the QE 20 Index down by 0.35% to hit a 13-month low at 8,166.98 points.
Shares of diversified conglomerate Aamal Company added 0.44% to reach QR15.87. Earlier in the day, Aamal said it signed a joint venture agreement with C&C Lightway from South Korea. "The joint venture will initially trade in, and distribute, LED (Light Emitting Diode) and other lighting products (indoor, outdoor and façade) for the Qatari market and other GCC countries," Aamal said in a statement to the Qatar Exchange, adding that "the joint venture also plans to establish in the near future a factory to assemble and manufacture LED lamps and other lighting products using technology and know-how from C&C Lightway. The factory will serve the Qatari and MENA region markets."
Kuwait Stock Exchange consolidates above 5,800 points
June 27, 2012--The KSE Market Index closed insignificantly lower at 5,820.94 Wednesday.
A slight increase of the recently beaten down oil prices helped the Kuwaiti gauge to stabilise. The country's largest lender National Bank of Kuwait or NBK edged 1.96% higher to reach KD1.040. Amar for Finance and Leasing posted the largest increase (up 9.8% at KD0.056). Contracting and Marine Services Co. fell the most, heading nine percent lower to hit KD0.142.
Abu Dhabi developers close flat, while market index is mostly dragged down by Etisalat
June 27, 2012--A lacklustre ADX General Index lost half a percentage point Wednesday and closed at one-week low at 2,469.86 points.
Trading volumes fell to a new 2012-low as 19.4m shares were traded, valued at Dhs37.3m. Commercial Bank International gained the most (up 10% at Dhs0.99). Bellwether Etisalat, the UAE's first telco firm, closed 1.86% lower at Dhs9.33. Merger candidates Aldar Properties and Sorouh Real Estate closed unchanged at Dhs1.12 and Dhs1.02, respectively.
