Middle East ETF News Older than One Year
Abu Dhabi market ends slightly lower
April 27, 2011-The ADX General Index declined 0.05% to close at 2,689.30 points. Abu Dhabi National Energy Co., known as Taqa, posted the largest advance (up 3.82% at Dhs1.61).
Aldar Properties weakened 1.88% to Dhs1.54. Dana Gas closed unchanged at Dhs0.69. Eight shares advanced, 18 declined and three remained even.
Source: AME Info
Kuwait market remains in stutter mode
April 27, 2011--The KSE Market Index ended 0.07% lower at 6,488.8 points.
Al-Massaleh Real Estate Co. surged 8.19%, finishing at KD0.106. National Bank of Kuwait (NBK) closed unchanged at KD1.240. Abyaar Real Estate was the most liquid share (up 7.55 at KD0.036).
Source: AME Info
Tadawul bourse recovers 0.57%
April 27, 2011--The Saudi benchmark index Tasi closed 0.57% higher at 6,724.26 points.
Over the last trading week of April, the Saudi Stock Exchange soared 2.27%. Saudi Advanced Industries Co. was the top gainer on Wednesday (up 9.97% at SR16.55). Al Rajhi Takaful dived 3.05% to SR47.70. Market bellwether Sabic added 0.22% to reach SR111.75. Eighty-one shares gained, 41 declined and 23 ended flat.
Source: AME Info
Egypt budget deficit could top 10%
April 27, 2011--Egyptian finance minister has said the country's budget deficit in the next fiscal year may top 10% of gross domestic product, as the government responds to demands for jobs and higher wages, Reuters has reported.
The budget deficit will rise to 9.1%, from 8.5% in 2010-2011," Samir Radwan told the Egyptian community in Saudi capital Riyadh. "And if all demands are met, it (the deficit) might go up to over 10% (of GDP). Next year we need $10bn (to support the balance sheet)."
Source: AME Info
Tadawul market ends unchanged
April 26, 2011--The Saudi Stock Exchange ended unchanged at 6,686.3 points in a lacklustre trading session.
Symptomatically for Tuesday's market activity, bellwether Sabic closed unchanged, too, at SR111.50. Gulf General Cooperative Insurance Company posted the largest decline (off 3.41% at SR39.60). Sixty-seven shares gained, 58 declined and 20 remained unchanged.
Source: AME Info
Qatar Exchange declines 0.20%
April 26, 2011--The QE Index in Doha ended off 0.20% at 8,441.91 points as banks and insurers suffered losses.
Qatar National Bank, the country's largest bank, dipped 1.09% to QR135.50. Qatar Islamic Bank gained 0.28% to reach QR79.10.
Source: AME Info
Saudi Stock Exchange gain lifts its year-to-date performance into the green
April 25, 2011--The Tadawul market closed 1.07% higher at 6,684.7. Market leader Sabic, worth $88.2bn (market capitalisation), recovered 1.13%, closing at SR111.50.
Yamamah Cement was the top loser (down 2.10% at SR58.20). Year-to-date, the Tadawul market gained 0.98%, representing the highest return among all Arab stock markets (as yet).
Source: AME Info
Kuwait market bucks regional downtrend
April 25. 2011--After starting the week flat, the KSE Market Index recovered 0.33% on Monday, closing at 6,465.6. Shares of Grand Real Estate rose 14.8% to reach KD0.0155.
National Bank of Kuwait added 3.33%, finishing at KD1.240. Al Safat Real Estate posted the largest loss (off 8.10% at KD0.017). All sector indices landed in the green with the exception of the food segment.
Source: AME Info
Dubai market loses as real estate, construction shares tumble
April 25, 2011--Dubai's local stock market fell for the second day straight, closing at 1,638.23 (off 1.62%).
Market bellwether Emaar dived 2.91% at Dhs3.34, while Arabtec construction plummeted 4.64% at Dhs1.44. Logistics specialist Aramex (up 1.60% at Dhs1.91) bucked the regional downtrend. Some 187.01m shares valued at Dhs291.38m changed hands. Three stocks gained, 21 lost and two remained even.
Source: AME Info
Yemeni president to step down
April 25, 2011--Yemen's president Ali Abdullah Saleh has agreed to a proposal by GCC mediators to step down within 30 days after 32 years in power and hand power to his deputy in exchange for immunity from prosecution, the Associated Press has reported.
The Gulf Cooperation Council has been seeking to broker an end to the crisis in the fragile and impoverished nation on the southern edge of the Arabian Peninsula. Under the latest draft, Yemen's parliament would grant Saleh legal protection from prosecution. The president would submit his resignation to lawmakers within 30 days and hand power to his vice president, who would call for new presidential elections.
Source: AME Info
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