Middle East ETF News Older than One Year
Fitch International Agency affirmes Ahli Bank's 'A-'-Rating
September 14, 2011--The QE Index declined by 0.18% to 8,319.17 points. The country's largest lender Qatar National Bank dipped 1.12% to QR141.20.
Shares of Al Ahli Bank ended flat at QR80.00. Earlier in the day, Fitch International affirmed Ahli Bank's 'A'-Long Term Default Rating. "Fitch has also affirmed Ahli bank’s Viability Rating at “bbb-”, short term IDR at “F2”, Individual Rating at “C” and Support Rating at “1”, the statement posted on the QE website says.
Source: AME Info
Kuwait bourse consolidates above 6,000 level
September 14, 2011--The KSE Market Index continues to attract buyers, closing 0.46% higher on Wednesday at 6,035.7 points. Al-Dar National Real Estate Co. posted the highest advance, closing up 20% (!) at KD0.015.
International Financial Advisors (IFA) surged 4.76% to reach KD0.044. Earlier in the day, IFA published the condensed consolidated financial results for the second quarter, revealing a loss for the period of KD4.4m, compared to KD13m in the same period the year before.
Source: AME Info
DP World gains further ground, but amid low turnover
September 14, 2011--The FTSE NASDAQ Dubai UAE 20 Index closed at 1480.49 today, up 11.120, or 0.76%, from the previous close. In line with the general rebound at international stock markets,
shares of global port operator DP World jumped 2.59% to reach $9.90. Interior design company DEPA Limited and jewelry trader Damas ended both flat at $0.49 and $0.11. Less than 1.1m shares changed hands at the NASDAQ Dubai
Source: AME Info
Dubai market index and trading volumes rise
September 14, 2011--Lifted by Dubai blue chip stocks, the DFM General Index added 0.33% on Wednesday, closing at 1,465.53 points. Emaar Properties gained 1.08% to reach Dhs2.81. According to Citigroup analyst Heidy Rehman,
"The UAE remains MENA’s 2nd largest real estate project market (at around $623bn). But this is down 33% yoy. Its total project awards have fallen (by $6bn in the year-to-end August) while its cancelled & delayed projects are up (+13% t$170bn)." Logistics specialist Aramex closed as the most liquid share 1.69% higher at Dhs1.81, while investment bank Shuaa Capital fell 1.90% to Dhs0.826. Some 87m shares were traded,
Source: AME Info
Lacklustre trading leaves Saudi Tadawul bourse unchanged
September 14, 2011--The Saudi equity market closed at 6,071.52 points, up 0.04%. Shares of the Saudi Industrial Investment Group (SIIG) ended even at SR18.95.
Earlier in the day, SIIG announced the shutdown of some of its production units at its Jubail site, starting from 1 of October 2011. "This is a previously planned shutdown for regular maintenance work, and is scheduled to last for 30 days. The shutdown will require stopping the production of Benzene, Cyclohexane, and Motor gasoline, while the production of styrene and propylene will continue to operate," the statement which is published on the Tadawul website says.
Source: AME Info
Euro-zone debt troubles spoil Tadawul rebound
September 12, 2011--The Saudi Stock Exchange was not immune against fresh woes in the Euro-zone, where an 'organized default' of Greece is suddenly openly discussed among European governments.
The Tadawul index in Riyadh declined 1.69% to close at 6,037.25 points. Investors booked profits at insurers in particular, with AXA Cooperative Insurance Company diving 9.88% to SR36.50.
Source: AME Info
Banks, industry stocks drag Qatar bourse down
September 12, 2011--The Doha-based QE Index declined by one percent and closed at 8,294.73 points.
Doha Bank shares dived two percent, closing at QR61.40. Industries Qatar dived 1.66%, finishing at QR118.80.
Source: AME Info
Agility regains ground, hits one-month high
September 12, 2011--The KSE Market Index dipped insignificantly, closing at 5,977 points.
Logistics specialist Agility ended once again among the top gaining shares, closing 8.5% higher at a four-week high at KD0.320. National Bank of Kuwait closed even at KD1.080.
Source: AME Info
Batelco, bank shares weigh on Bahrain Bourse
September 12, 2011--After a hopeful recovery at the start of September, the Bahrain Bourse declined 0.42%, finishing at 1,265.49 points. Bahrain Telecommunications was the most actively traded shares, closing one percent lower at BD0.396.
On Sunday, Batelco announced that along with Saudi Arabia's Kingdom Holding Company (KHC) "that its consortium to purchase Zain Kuwait's 25% stake in Zain Saudi Arabia anticipates completing due diligence by the end of September 2011." Shares of Bahrain Islamic Bank posted the largest decline (off 3.96%), while Khaleej Commercial Bank gained 2.50%. [AMEInfo.com]
Source: AME Info
Dubai Mercantile Exchange Sets New Trading Record in August
Monthly total trading volumes reach new all-time high for second consecutive month
September 12, 2011--The Dubai Mercantile Exchange Limited (DME) announced today that it has continued to build on recent strong performances with a new monthly trading record in August 2011.
Trading of its benchmark Oman Crude Oil Futures Contract (DME Oman) for the month totalled 95,440 contracts or approximately 95.4 million barrels – its highest since the trading on the Exchange commenced in June 2007 and a 7.8 per cent increase over the previous record, set a month earlier.
This new record reinforces DME Oman’s status as the largest physically delivered crude oil contract in the world, underscoring to market participants the benefit of robust price discovery through direct linkage to true market supply and demand fundamentals.
Source: Dubai Mercantile Exchange Limited (DME)
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