Middle East ETF News Older than One Year
Qatar Exchange advances 0.70%
August 10, 2011--Stock advanced across the board in Doha, pushing the QE Index higher by 0.70% to 8,127.54 points.
Insurers were especially strong, as e. g. Doha Insurance (up 2.54% at QR28.30) and Islamic Insurance (1.90% higher at QR53.50) outperformed.
Source: AME Info
Banks, real estate shares push Kuwait bourse up
August 10, 2011--Lifted by relief buying at Asian, European and U. S. exchanges, the KSE Market Index added0.32% to reach 5,900.8 points. National Bank of Kuwait, known as NBK, closed flat at KD1.040.
Gary Dugan, CIO Private Banking at bank Emirates NBD warns investors to stay cautious, despite today's technical rebounds. "In the current climate of fear, markets are likely to trade on technicals meaning that investors will look for key chart supports." The Investors Holding Group surged nine percent to reach KD0.012, while Heavy Engineering and Ship Building lost the most (off 9.77% at KD0.325).
Source: AME Info
Taqa shares soar amid 159% year-on-year Q2 profit increase
August 10, 2011--The Abu Dhabi-benchmark ADX General Index added 0.96% to reach 2,602.50 points. Abu Dhabi National Energy Co., better known as Taqa, jumped 4.27%, finishing at Dhs1.21. Earlier in the day,
Taqa reported a net profit after minority interests increase of 154% year-on-year, totalling Dhs435m for Q2 2011, versus Dhs171m for Q2 2010. Real estate bellwether Aldar Propertis gained 3.42%, closing at Dhs1.20, while Union Cement Co. lost the most, ending at Dhs0.94 (off 8.91%). Around 64m shares were traded, valued at Dhs92.5m.
Source: AME Info
Bahrain Bourse shows signs of life by gaining 0.55%
August 10, 2011--The Bahrain All Share Index (BASI) closed half a percent higher at 1,272.29 points, as a direct reaction to the global rebound at financial markets. Islamic investment bank Gulf Finance House surged four percent to close at $0.13. Year-to-date, the BASI has lost 11.70%.
The Kingdom of Bahrain suffered since spring from massive capital outflows due to social unrest and demonstrations. Financial executives also left the country as e. g. the newly founded Bahrain Financial Exchange's Chief Business Officer Craig Hewett left Manama end of July to join the NASDAQ Dubai as Head of Business Development. [AMEInfo.com]
Source: AME Info
DP World, Depa Ltd. dive over six percent at NASDAQ Dubai
August 09, 2011--The FTSE NASDAQ Dubai UAE 20 Index closed at 1504.51 today, down by 56.28 points, or -3.61%, from the previous close. The negative global sentiment,
which triggered panic sales at some Asian markets, dragged shares of Dubai Ports (DP) World down by 6.12%, closing at $10.89. Interior designer DEPA Ltd. plunged to $0.475 (off 6.86%).
Source: AME Info
Petrochemical shares drag Saudi Stock Exchange down 0.81%
August 09, 2011--The Tadawul lost 0.81% on Tuesday, closing at 6,008.67 points. Sabic, the most liquid share, declined 1.28% to close at the lowest level since March this year at SR96.25.
Trade Union Cooperative Insurance Company plummeted 5.57%, finishing as a top loser at SR21.20.
Source: AME Info
Qatar Exchange has 8,000 points in sight
August 09, 2011-The QE Index declined 1.76% to 8,070.69 points as shares lost across the board.
the QE revealed earlier in the day that the total trading value during the period of 31 July through August 4, 2011 reached QR927.7m.
Source: AME Info
Sharjah banks buck Abu Dhabi market fall
August 09, 2011--The ADX General Index was not immune against further indexes declines worldwide and closed 1.34% lower to 2,577.76 points.
Sharjah-based Dana Gas dived 5.17% to Dhs0.55. Shares of Sharjah Islamic Bank (up. 3.49% at Dhs0.90) and Bank of Sharjah (2.86% higher at Dhs1.80) gained against the trend. Smome 86.18m shares were traded, valued at Dhs121.56m.
Source: AME Info
Dubai market dives 1.95%, extends year-to-date loss to 11.42%
August 09, 2011--The DFM General Index ended 1.95% lower at 1,444.29 point amid tumbling global exchanges. Emaar fell 2.83% to Dhs2.75. Arabtec Construction plummeted three percent to Dhs1.30. Only Islamic insurer Dartakaful gained value (up 1.11% to reach Dhs0.637).
Market observers publicly discussi when bargain prices will attract buyers. "Wouldn’t be surprising to see a relief rally in the near term with supportive statements from policymakers," says Dr. Giyas Gokkent, Chief Economist at National Bank of Abu Dhabi (NABD). Trading volumes remained relatively high, as around 163.65m shares were traded, valued at Dhs218.75.
Source: AME Info
DGCX scores a daily record volume of 35,796 contracts on August 4
August 4, 2011--The exchange traded 35,796 contracts worth US $ 1.91 billion on August 4
Indian Rupee futures recorded the highest ever daily volume of 22,827 contracts, valued at US $1.02 billion
The Dubai Gold and Commodities Exchange (DGCX) traded highest ever daily volume of 35,796 contracts, valued at US $1.91 billion, on Thursday, August 4, 2011. The new record surpasses the previous best of 24,532 contracts traded on August 3, 2011.
DGCX also witnessed very active trading in Indian Rupee/US Dollar futures on August 4, 2011, achieving a new daily record volume of 22,827 contracts worth US $1.02 billion. The previous record was set on July 27, 2011 with 19,596 contracts.
Source: DGCX
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