Middle East ETF News Older than One Year
Bahrain Bourse dives as investors dump bank shares
June 13, 2012--The Bahrain All-Share Index lost 1.55% Wednesday, closing at 1,116.99 points.
Lenders Khaleej Commercial Bank (off 7.69%, largest day-loss), Ahli United Bank (down 6.78%), and National Bank of Bahrain or NBB (1.81% lower) weighed on the gauge as global concerns over Spain's bailout request prevailed. The Manama-based market fell 2.33% since January 1, the second worst performance before Qatar (as yet), which lost 5.83% year-to-date.
Source: AME Info
Saudi Cable Company gains on million dollar deal in Turkey
June 12, 2012--The Saudi Tadawul All-Share Index slipped 0.94% to 6,727.83 Tuesday, despite a relief in oil prices and a recovery at Western market late afternoon.
Saudi Cable Company closed 1.33% higher at SR15.25. Earlier in the day Saudi Cable said that its wholly owned subsidiary in Turkey, Mass Kablo, has won on an order for supply of High Voltage Cables for an important project in one of the European countries for $15.6m. "The deliveries will start from the beginning of the fourth quarter of 2012 for a period of 24 months," Saudi Cable addedd in the statement to the Tadawul bourse.
Source: AME Info
Qatar Exchange does one step forward, two steps back
June 12, 2012--The Doha-based QE 20 Index declined 0.42% to 8,280.58 points.
Shares of Qatar's second telco firm Vodafone Qatar slipped 0.66% to QR9.09. Om Monday Vodafone Qatar said its loss in 2011 fell to QR486m, down from QR600.7m. Al Kaleej Insurance gained the most, closing up five percent to reach QR43.55.
Source: AME Info
Abu Dhabi banks end Tuesday trading mixed
June 12, 2012--Like all GCC markets, the ADX General Index lost slightly Tuesday, closing off 0.64% at 2,447.57 points.
Concerns over Greece's upcoming elections and how the result will affect the country's eagerness to remain in the Euro zone or not weighed on the sentiment worldwide, albeit European exchanges recovered later on. In Abu Dhabi, First Gulf Bank and National Bank of Abu Dhabi fell 0.20% ad 0.10% respectively. Abu Dhabi Commercial Bank and Abu Dhabi Islamic Bank, on the other hand, added one percent and 0.70%, respectively. Trading volumes fell by half compared to Monday, as 29.3m shares worth Dhs47.6m changed hands.
Soiurce: AME Info
Dubai market retreats slightly on some profit booking
June 12, 2012--After five consecutive days of rising, the DFM General Index closed 0.96% lower at 1,468.82 points Monday. Traders booked small profits in Emaar Properties (off one percent at Dhs2.85), telecom operator Du (down 1.29% at Dhs3.05) and Sharjah-based low cost carrier Air Arabia (off two percent at Dhs0.584).
Only four shares advanced, among them investment bank Shuaa Capital (up 0.30% at Dhs0.662). EFG Hermes said it expected "some sellers’ action in the upcoming few sessions, however, the worse now becomes less likely." Meanwhile, European markets recovered after a small setback on doubts if Spain's EUR100bn bailout request would be enough. Some 77.5m shares were traded, valued at Dhs87.5m.
Source: AME Info
Saudi market soars ahead of OPEC meeting
June 11, 2012--The Riyadh-based market measure Tasi edged 0.61% higher to hit 6,790.96 points Monday as oil prices recovered in recent days amid speculations that OPEC member states will decide at the 161st meeting next Thursday to reduce production in order to keep brent prices in the range between $100 to $120.
In May the price of "black gold" fell by a fifth due to ongoing concerns over the Euro zone dent crisis. Petrochemical producer Sabic advanced 0.82% to reach SR92. Like at UAE market, tradigng volumes edged up. 108 out of 162 traded shares advanced, while 24 securities declined.
Source: AME Info
Kuwait Stock Exchange in stutter mode while Riyadh and UAE rebound strongly
June 11, 2012--The KSE Market Index failed to join the rebound in most other GCC markets, closing off 0.63% at 6,072.36 points Monday.
The fall came despite roubust advances in oil prices (up 3.1
Source: AME Info
Abu Dhabi blue chip shares push index towards 2,500
June 11, 2012--The ADX General Index added 0.36% to close at 2,463.38 points. Developers Sorouh and Aldar added another 0.95% and 0.88% respectively on news that the planned is possibly on the way to materialize.
Telecom giant Etisalat consolidated above Dhs9 (up 0.31% at Dhs9.08). Like in Dubai, market breadth ended deeply in the green as 20 shares advanced, while six declined. Some 82.6m shares worth Dhs102.7m changed hands.
Source: AME Info
Dubai bourse advances on Spain relief, as trading volumes triple
June 11, 2012--The DFM General Index gained for the fourth session straight Monday, closing 1.10% higher at 1,483.00 points.
Positive input from markets in Asia and later from Europe on Spain's bailout request for its troubled banks raised the mood at exchanges worldwide. In Dubai, district cooling specialist Tabreed jumped six percent to reach Dhs1.22. Emaar Properties added 0.70%, closing at Dhs2.88. Union Properties lost the most and fell 2.18% to hit Dhs0.403. Twenty-one shares advanced three closed down. Some 223m shares were traded (three times more than on Sunday), valued at Dhs222.5m.
Source: AME Info
Saudi Arabia's May inflation dips to 5.1%
June 11, 2012--According to data by Saudi Arabia's Central Department of Statistics (CDS), the kingdom's annual inflation eased to a nine-month low of 5.1% in May, despite a slight rise in food and housing prices, Reuters has reported.
Consumer prices slowed to 5.1% in May from 5.3% in the same month a year earlier, while monthly inflation remained unchanged from April at 0.2%, the data showed. The central bank said in a report that it expects inflationary pressures to continue in the second quarter. Last February, the CDS said it expected relative price stability or even a slight decline in inflationary pressures in the near term.
Source: AME Info
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