Middle East ETF News Older than One Year
Composition of TASE Equity Indices as of June 17th, 2012
June 10, 2012--As of June 17th, 2012 the composition of the equity indices will be updated.
Source: TASE
United Arab Emirates: Selected Issues and Statistical Appendix
June 8, 2012--EXECUTIVE SUMMARY
This paper looks at the global spillovers to the UAE financial system. It concludes that although financial vulnerabilities of the United Arab Emirates (UAE) have decreased since the
2008 global real estate collapse, given the UAE's interconnectedness, it remains exposed to global financial conditions.
The analysis of the impact of external financial conditions is structured in four main parts: the domestic equity market, sovereign risk, the banking system, and the corporate sector. The Government-Related Entity sector is not covered in light of insufficient data.
The paper finds an uneven degree of spillovers to the different segments of the UAE financial system. Regarding domestic equity markets, the combined market capitalization losses in the Abu Dhabi and Dubai stock exchanges between September 2008 and end-March 2012 exceeded $100 billion. Equity markets have become significantly more correlated with global markets since September 2008, and market volatility increased after the crisis, but seemed to have settled down since the beginning of 2011. Market perceptions of sovereign default risk remain elevated and linked to international financial market conditions, but less so than in 2008/09. CDS market exposure to financial distress abroad has increased again in recent months and can be traced to developments in Europe.
view IMF United Arab Emirates: Selected Issues and Statistical Appendix
Source: IMF
Qatar Exchange misses chance for a sustainable rebound
June 7, 2012--After stabilising in the last three trading days, the Qatar Exchange (QE) 20 Index slipped 0.32% to 8,316.05 points Thursday.
Banks and industrials in particular weighed in the gauge. With a year-to-date loss of 5.21%, Doha remains at the bottom of the charts within the GCC.
Source: AME Info
First listing in pipeline since 2008 at NASDAQ Dubai- report
June 7, 2012--The FTSE NASDAQ Dubai UAE 20 Index closed 0.55% higher at 1549.85 Thursday.
Shares of global maritime port operator DP world gained 1.48% to close at $10.30. Interior design firm Depa Limiteddived 2.22%, finishing the session at $0.44. Earlier in the day The National reported that British firm RegisCard plans an IPO at the NASADAQ Dubai. It would be the first primary listing at the Middle East's only international exchaneg since July 2008, when jewelry trader Damas went public. RegisCard is a provider of solutions for debit cards and payment solutions.
Source: AME Info
Etisalat, real estate firms boost Abu Dhabi bourse
June 7, 2012--The Abu Dhabi market index gained 0.20% Thursday, finishing at 2,439.65 points as oil prices recovered in line with global speculations of a concerted stimulus for the indebted Euro zone.
Over the first week of June, the ADXGI ended unchanged, as the gauge, after falling at the beginning of the week, managed to recover territory in the last three days. Leasing specialist Waha Capital jumped 5.50% to rech Dhs0.58. Market bellwether Emirates Telecommunications Corporation or Etisalat added 0.34% to hit a one-month high at Dhs8.83. Merger candidates Aldar Proporties and Sorouh Real Estate added 0.91% and 1.96%, respectively. Some 55.2m shares were traded, valued at Dhs76.5m.
Source: AME Info
Dubai Financial Market gains the third day straight
June 7, 2012--Driven by global speculations of a stimulus plan in the indebted Eurozone, the DFM General Index surged 0.53% to reach 1,463.69 points Thursday.
The rise was broad as 20 shares out of 27 traded securities advanced, while five declined. District cooling specialist Tabreed was the most liquid stock (up 2.56% atd Dhs1.20). Bellwether Emaar Properties added 0.35% to hit Dhs2.85. Shuaa Capital did not join the rally and slipped 0.44% to Dhs0.676. From a chart-technial perspective, the DFMGI rose amid narrowing Bollinger Bands during the last three days, usually an indication for more volatility to come. Some 111.5m shares worth Dhs103.8m changed hands.
Source: AME Info
DGCX Announces Third Consecutive Monthly Volume Record
June 6, 2012--May 2012 sees volumes of 853,191 contracts, up 259% from last year.
Highest ever monthly total value recorded at $32.67 billion
Indian Rupee Futures sets monthly value record of $26.82 billion
Gold futures volume rises 117% from previous month
Dubai Gold and Commodities Exchange (DGCX) announced record-breaking trading volumes for a third consecutive month in May 2012 on the back of major upswings in Gold and Rupee Futures trading. The total trading volume for May hit 853,191 contracts, up 259%from the 237,920 recorded in May last year. May 2012 also witnessed the highest ever monthly total value, amounting to $32.67 billion.
Year-to-date total volumes on DGCX reached 2,958,871 contracts; over 158% higher than for the same period in 2011.
Source: DGCX
Egypt authority halts foreign stock trading for local brokerages
June 06, 2012---The Egyptian Financial Supervisory Authority (EFSA) decided to ban local financial institutions from trading foreign securities, saying it exposes investors to risks that Egyptian authorities are unable to monitor, Reuters has reported.
Traders said the move came after Egyptian investors suffered losses due to a sharp drop in Facebook shares after the social platform's initial public offering. EFSA said it had received several complaints from people dealing with brokerage firms "stating that they have lost large sums of money as a result of following the guidance and advice these firms gave to invest through them in foreign securities traded on foreign exchanges."
Source: AME Info
Saudi Tadawul market in fierce fight to defend 6,600 points
June 6, 2012--The Riyadh equitye measure TASI fell the second session straight Wednesday, closing at 6,661.26 points, as only nine shares advanced, while 130 declined.
Sabic fell back to SR90 (down one percent). Since the Riyadh-based gauge hit a three-and-a-half year high at 7,930 points on April 4, the measure fell sharply. Its next support is between 6,600 to 6,650, the old trading range from mid-2011.
Source: AME Info
Batelco helps Bahrain Bourse to halt decline
June 6, 2012--The Bahrain All-Share Index added 0.10%, ending at 1,132.17 points Wednesday.
Bahrain Telecom, known as Batelco, added 0.42% to reach BD0.474. Aluminum Bahrain or Alba and Ahli United Bank closed unchanged. Year-to-date, the Bahrain Bourse fell by one percent amid ongoing political uncertainty in the Kingdom.
Source: AME Info
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