Middle East ETF News Older than One Year
Qatar market gains 4.30% as financials surge
March 8, 2011--The QE Index in Doha closed over four percent higher at 8,011.77
Qatar National Bank jumped 5.73% to reach QR136.50 while Al-Khalij Commercial Bank dipped 0.33%, finishing at QR18.14. "Emerging markets offer higher chances than the developed countries these days, as they benefit from rising commodity prices", US economist Nouriel Roubini said a today's Hedge Funds World in Dubai.
Source: AME Info
Bahrain Bourse weakens 0.28%
March 8, 2011--The Manama-based Bahrain stock market closed 0.28% lower at 1,393.15.
Bahrain Telecom, known as Batelco, posted the largest decline, closing down 4.55% at BD0.42. Gains at banks failed to uplift the market, as Islamic bank Al Salam Bank surged 7.84% to reach BD0.055.
Source: AME Info
Real estate share push Abu Dhabi market higher
March 8, 2011--The ADX General Index added 0.96%, finishing at 2,573.05 on higher trading volumes.
Real estate heavyweights Aldar (up 3.15% at Dhs1.31) and Sorouh (2.91% up at Dhs1.07) were the driving forces behind the surge as energy bellwether Taqa declined 0.71% to close at Dhs1.41. Its rival Dana Gas from the emirate of Sharjah added 1.72% to reach Dhs0.60.
Source: AME Info
Bahrain Bourse weakens 0.28%
March 8, 2011--The Manama-based Bahrain stock market closed 0.28% lower at 1,393.15.
Bahrain Telecom, known as Batelco, posted the largest decline, closing down 4.55% at BD0.42. Gains at banks failed to uplift the market, as Islamic bank Al Salam Bank surged 7.84% to reach BD0.055.
Source: AME Info
ADS Securities leverages Abu Dhabi’s strategic location and rising economic prominence to contribute to the global market place
March 7, 2011--Private investors launch $400 million brokerage and trade services provider
New venture is building a large network of leading global liquidity providers
ADS Securities, a full-fledged brokerage and trade services firm that brings significant new opportunities to participants in the global and regional forex, precious metals, commodities, futures and options markets, was launched today in Abu Dhabi. Backed by a capital commitment of $400 million from a group of private investors.
Source: Dubib.com
Tadawul market soars 3.27%
March 7, 2011--The TASI benchmark in Riyadh edged 3.27% higher to reach 5,950.74.
Saudi Fransi Bank was the top gainer (up 9.98% at SR44.10) while bellwether Saudi Basic Industries Corp., known as Sabic, recovered 2.65% to close at SR96.75. Atheeb Telecom plummeted 9.85%, finishing at SR5.95. Eighty-seven securities gained, 49 declined and nine closed even.
Source: AME Info
Financials weigh on Kuwait market, off 0.89%
March 7, 2011--The KSE Market Index dipped 0.89% to close at 6,134.6.
National Bank of Kuwait lost 1.72% to close at KD1.140. Kuwait Investment Co. plummeted 8.33%, finishing at KD0.099. Real estate bellwether Alaqariya surged 15% to reach KD0.0375.
Source: AME Info
Qatar Exchange surges 2.57%
March 7, 2011--On its first trading day after the bank holiday on Sunday, the Doha-based QE Index closed 2.57% higher at 7,681.82. Qatar National Bank added 1.65% to reach QR129.10.
Food and transport company Zad Holding plunged 6.42% to close at QR51. Earlier in the day, Zad Holding Company discloses its preliminary financial statements for the full-year 2010, revealing a net profit of QR63.2min 2010 compared to QR58.9m in 2009. Earnings per Share (EPS) amounted to QR6.28 in 2010 compared to QR5.85 in 2009.
Source: AME Info
Etisalat shares gain against the downtrend
March 7, 2011--In Abu Dhabi, the ADX General Index lost 0.46% to close at 2,546.43 in a thin trading session. Three shares gained, among them telecom giant Etisalat (up 0.93% at Dhs10.90). Real Estate bellwether Aldar Properties dived 3.79%, closing at Dhs1.27.
Earlier in the day, Aldar said in a statement to the ADX that the issuance of mandatory convertible bonds worth Dhs3.5bn was approved by an EGM on February 27 and that investment firm Mubadala will issue a convertible bond worth Dhs2.8bn, carrying a 4% interest p.a. Aldard added that the remaining amount is not considered to be issued at this stage. RAK Ceramics was the top loser (off 9.83% at Dhs2.11). As in Dubai, trading volumes plummeted, as some 22.71m stocks worth Dhs47.68m changed hands. Three shares gained, 19 lost and nine closed unchanged.
Source: AME Info
Dubai market back to reality, dips one percent
March 7, 2011--After the positive start of the week on Sunday, the DFM General Index declined one percent on Monday, closing at 1,375.13.
Salama Insurance was the main loser (down 5.96% at Dhs0.60). Emirates NBD bucked the trend (up 6.95% at Dhs3.23) after the Dubai-based universal bank said its asset management unit signed a strategic partnership with Acordias, a "service platform for financial intermediaries, to facilitate distribution of its managed funds to European domestic, expatriate financial advisers and international life companies", the ENBD statement says. Emaar dipped 1.21%, finishing at Dhs2.44. Seven shares gained, 16 lost and two ended flat. Traded value plunged 60% to Dhs70.5m as 60.38m stocks changed hands.
Source: AME Info
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