Middle East ETF News Older than One Year
UAE telecom giant Etisalat regains further ground
December 26, 2011--The Abu Dhabi gauge ADX General Index gained 0.10%, closing at 2,352.37 points Monday.
Market bellwether Emirates Telecommunication Corp., known as Etisalat, advanced 0.33%, closing at Dhs9.03. Abu Dhabi's leading real estate company Aldar Properties dived 2.35% to touch Dhs0.82. Around 40.1m shares were traded, valued at Dhs49.2m.
Source: AME Info
Tadadul index soars, Sabic shares end even
December 26, 2011--The Saudi Arabian equity market index TASI closed half a per cent higher at 6,414.47 points, improving the gauge's year-to-date
performance to minus 3.12%. Bellwether Sabic finished flat at SR96.50. Food producer Halwani Bros lost the most (off 9.29% at SR61.00).
Source: AME Info
Dubai market rebounds by a quarter per cent
December 22, 2011--After hitting a 7-year low yesterday, the Dubai Financial Market General Index (DFMGI) added 0.25% to reach 1,339 points Thursday.
Investment bank Shuaa Capital surged 14.72%, closing at Dhs0.608. Emaar ended at Dhs2.50 (up 0.40%). Arabtec Construction lost for the third day straight, finishing off 1.88% at Dhs1.57. Some 52.3m shares were traded, valued at Dhs55.2m. Over the week, the DFMGI has lost 2.34%.
Source: AME Info
Aldar recovers after denying delisting rumors
December 22, 2011--The Abu Dhabi market gauge ADXGI closed 0.33% higher at 2,351.09 points. Dana Gas ended down 2.13% at Dhs0.46. Market bellwether Etisalat, the UAE's first telecom provider, added Dhs0.12 to reach Dhs9.00.
Shares of real estate bellwether Aldar Properties rebounded from its all-time low by 1.22%, closing at Dhs0.84. Earlier in the day, Mohammed Al Mubarak, Deputy CEO of Aldar, denied any intentions to de-list Aldar from the ADX, The National reported. According to Bloomberg, the delisting rumors came up after Aldar's largest shareholder Mubadala announced to convert Dhs2.1bn worth of bonds into Aldar shares at the price of Dhs1.75. Some 60.8m shares were traded at the ADX Thursday, valued at Dhs63.18m.
Source: AME Info
Barwa Real Estate jumps on Qatar Petroleum deal
December 22, 2011--The Qatar Exchange closed insignificantly lower at 8,780.48 points Thursday. Shares of Barwa Real Estate posted the largest value increase by soaring six per cent to reach QR31.10.
Earlier in the day, Barwa announced it signed a sales completion agreement for the Barwa Financial District. Covering an area of 696,000 square meters, the Barwa Financial District is expected to house the headquarters of Qatar Petroleum, which will own and operate the development. Upon completion of the project, Qatar Petroleum is expected to re-locate its headquarters and various business entities to the Barwa Financial District. The Barwa Financial District consists of 10 towers, which have an average of 21 to 36 floors and occupy a prominent position in Doha’s West Bay area. The initial value of the project is estimated at approximately QR11bn. Compared to the previous day, trading turnover rose almost five-fold at the Qatar Exchange Thursday, as 54m shares were traded, valued at QR1.35bn.
Source: AME Info
Kuwait Stock Exchange fails to benefit from rebound in oil prices
December 22, 2011--Despite the six per cent increase in oil prices (U. S. crude) during the last week due to falling U. S. stockpiles, the KSE Market Index declined 0.31% Thursday,
closing at 5,794.3 points. The northern Gulf state's largest lender National Bank of Kuwait or NBK declined further after performing a double-top at KD1.160, ending off 1.78% at KD1.100. Gulf Investment House posted the second largest advance, adding 8.88% to reach KD0.0245.
Source: AME Info
Damas Jewellery gains ahead of the festive season
December 22, 2011--The FTSE NASDAQ Dubai UAE 20 Index closed 0.60% lower at 1,363.27 points. Dubai Ports (DP) World fell two per cent to $9.80, while Dubai's interior design leader declined 1.19% to touch $0.415.
Jewelry trading firm Damas International jumped 2.70% to reach $0.19. During the fourth quarter, Damas shares nearly doubled in price as the company recovered this year from the financial crisis and from an internal embezzlement scandal on the management level two years ago.
Source: AME Info
Sukuk investors raise Nasdaq Dubai holdings
December 22, 2011--The value of sukuk investments held for safekeeping in Nasdaq Dubai’s custody has risen by 36 per cent in the past year, from $100 million to $136 million.
The increase, which are maintained in the exchange’s Central Securities Depository, or CSD, reflects the wide range and competitive pricing of the CSD’s services to participants. These also include settlement of over-the-counter cross-border transfers and processing of corporate actions.
Source: Khaleej Times
Qatar's inflation falls to 2.1%
December 21, 2011--According to Qatar's statistics authority, annual inflation rate has dropped to 2.1% in November from 2.5% in October, partly because of a drop in transport and communications costs, Reuters has reported.
Consumer prices rose 0.1% month-on-month in November after a 0.4% rise in October, the data showed. October's annual inflation was the highest since at least the start of 2010, when the authority began publishing year-on-year data every month. Qatar's central bank expects inflation this year of 2.5%, central bank governor Sheikh Abdullah bin Saud al-Thani said in October.
Source: AME Info
It starts getting painful at the Dubai Financial Market
December 21, 2011--The DFM General Index dived 1.83% Wednesday, closing at 1,335.87 points, amid a disastrous advance-decline ratio of one to 21 (five shares ended even).
Emaar Properties plummeted 3.11% to Dhs2.49, while Arabtec Construction fell three per cent, closing at Dhs1.60. Dubai Islamic Insurance and Reinsurance or Aman was the sole gainer (up 0.44% at Dhs0.458). According to the UAE nine-months profit report, published by Kuwait's Global Investment House, a total of 43 companies listed on DFM, that were covered in the report, posted a decline of 24.4% year-on-year in the nine months 2011 net profit, to Dhs6.0bn. Some 73.1m shares were traded at the DFM today, valued at Dhs107.8.m.
Source: AME Info
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