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Abu Dhabi bourse adds half a percent
April 12, 2011--The ADX General Index closed 0.50% higher at 2,632.44. Shares of RAK Properties gained 2.56%, closing at Dhs2.56. Earlier in the day, RAK Properties informed the ADX that it received a loan of $50m from the Investment and Development Office (IDO)
National Bank of Fujairah posted the largest gain, closing 10% higher at Dhs3.52. Investbank was the main loser (off 6.43% at Dhs1.60). Some 126.86m stocks worth Dhs190.29m changed hands in Abu Dhabi. Nineteen shares gained, eight lost and five remained even.
Etisalat shares save ADX Index from declining
April 11, 2011--In Abu Dhabi, the ADX General Index added 0.42% and closed at 2,619.34 points, despite slight losses in the real estate and energy sectors. Aldar Properties dipped 0.66%,
closing at Dhs1.50, while Dana Gas weakened 1.52%, finishing at Dhs0.65. Telecom giant Etisalat (up half a percent at Dhs10.25) belonged to the most liquid shares. Ten shares gained, 15 declined and five ended flat.
Qatar Exchange gains one percent
April 11, 2011-The QE Index closed on Monday at 8,834.90. Qatar National Bank, known as QNB and the country's largest bank, surged 3.40%, closing at QR148.90.
The insurance sector index was the only segment which landed in the red. Shares of Qatar Insurance dipped 1.33%, finishing at QR81.60.
Kuwaiit bourse lifted by banks, telecoms
April 11, 2011--The KSE Market Index closed up 0.41% to reach 6,365.2 points.
Telecom giant Zain was the most liquid share as it edged 1.47% higher to KD1.380. Islamic bank Kuwait Finance House, known as KFH, surged 1.0%, finishing at KD1.060. As at the Dubai Financial Market, Hits Telecom posted the largest advance, gaining 9.6% to close at KD0.057.
Egypt inflation accelerates in March
April 11, 2011--The rate of inflation in Egypt has climbed in March on higher food prices, Bloomberg has reported. According to the Central Agency for Public Mobilization and Statistics, inflation in urban parts of Egypt, the gauge that the central bank monitors, rose to 11.5% from 10.7% in February.
Prices increased 1.4% on a monthly basis, it said. "With inflation remaining to be food-prices led, we maintain our view that central bank of Egypt interest rates are likely to remain unchanged," Beltone said in a report.
Dubai Gold And Commodities Exchange Weekly View-April 10, 2011
April 10, 2011-- Economic Data Overview
There is a lot of economic data on the calendar in the coming week. The standouts are likely to be the March reports on retail activity and the changes in the Consumer Price Index. The Beige Book will also be closely parsed for its assessment of economic conditions in the 12 Fed Districts. The March report on retail and food sales on Wednesday will finish out the data available for the first quarter.
So far January and February had respectable gains. March should get a boost from rising prices for gasoline at service stations. Data on import price indexes should be pushed higher by petroleum prices and to a lesser extent by increases in food commodities and non-petroleum industrial supplies. Export prices indexes are likely to get another boost from agricultural prices, although it should be a smaller gain than in the prior month.
The PPI survey takes its reading on oil prices usually in the second week of the month. Oil prices had not yet peaked at that time, but there was still a double-digit gain in prices in March from February. Gains in the March CPI are likely to be concentrated in rising gasoline prices, which were up about 10% compared to the prior month. The two earliest monthly reads on consumer confidence for April are the IBD/TIPP Economic Optimism Index on Tuesday and the preliminary Reuters/University of Michigan Consumer Sentiment Index on Friday. Confidence plunged in March due to a confluence of bad news about international geopolitical concerns and natural disasters. Also, there was a surge in food and gasoline prices that more than offset a somewhat improved outlook for labour markets.
The data on the international trade deficit for February on Tuesday will provide.
Qatar market advances to 8,866 points
April 7, 2011--The Doha-based QE-Index added 0.89% on Thursday, closing at 8,668.64. Financial shares were the drivers behind the surge.
The country's largest lender Qatar National Bank, known as QNB, edged 2.59% higher to reach QR142.80. Qatar Navigation declined 2.41%, closing at QR85. Earlier in the day, Qatar Navigation announced that its ordinary general assembly approved the company's audited financial results for the year ended 31 December 2010, along with the proposal by the Board of Directors to distribute a cash dividend of 40% of the share par value (QR4 per share) or the equivalent of QR458m compared to QR288m for 2009, an increase of 60%.
NASDAQ Dubai posts gains
April 7, 2011--The FTSE NASDAQ Dubai UAE 20 Index closed at 1717.430 today, up 20.670, or 1.22%, from the previous close.
DP World shares gained for the thrid day straight, closing up two percent at $0.66. DEPA Ltd. soared 6.17% to reach 58.5 US-Cent. Jewellery trader Damas surged 10% to reach 10.5 US-Cent. Some 7.9m stocks changed hands.
Kuwait bourse advances by 0.34%
April 7, 2011--The KSE Market Index closed 0.34% higher at 6,348.3.
First Investment Co. ended up 10%, closing at KD0.110. Menafae Investment Co. was the top loser (down 7.8% at KD0.059). All sector indices landed in the green. The country's largest lender National Bank of Kuwait (NBK) finished flat at KD1.160.
Dubai market weakens 0.14%
April 7, 2011--The DFM General Index finished the week slightly lower, closing off 0.14% at 1,555.41.
The advance-decline ratior finished at 11:11 (four stocks remained flat). Dubai Refreshments surged 14.91% to reach Dhs9.48. The sole franchisee and distributor of PepsiCo products in Dubai and Northern Emirates, has opened a distribution centre to meet the growing demand for its products. Emaar edged 1.27% higher, closing at Dhs3.20. Dubai Islamic Bank lost four percent, finishing at Dhs2.15. Over the week the DFM closed unchanged.
