Middle East ETF News Older than One Year
Abu Dhabi Securities Exchange maintains positive trend in third quarter
October 6, 2010--The General Index of Abu Dhabi Securities Exchange (ADX) accumulated more than 6.3% of gains during the third quarter of 2010 as compared to the second quarter of the same year, the official figures revealed.
The general index stood at 2,677.31 points by the close of the trading session on September 30, 2010, compared to 2,531.44 points on June 30, 2010, with the total value and volume of trading increasing by 1.9% and 2.1% respectively during the same period.
The total value of traded shares amounted to Dhs7.54bn through a volume of 3.85 billion shares, of which UAE nationals accounted for 59.6% or Dhs5.27bn through trading 66.8% of the total traded shares, or 2.57 billion shares. The top gainer was Gulf Livestock Company, accumulating 76.46% of gains during the period, from Dhs4.12 to Dhs7.27, followed by Abu Dhabi Commercial Bank which advanced by 50.66% from Dhs1.52 to Dhs2.29 and Waha Capital which closed 36.36% higher.
Source: AME Info
Dubai Mercantile Exchange Achieves New Record in Open Interest
October 6, 2010--October 6, 2010: The Dubai Mercantile Exchange Limited (DME) today announced that it has achieved the highest level of open interest for its benchmark Oman Crude Oil Futures Contract (DME Oman) since the commencement of trading on the Exchange on June 1, 2007.
As of September 30, open interest in the DME stood at 21,797 contracts. Open interest is the total number of outstanding futures contracts held by market participants and is regarded as a leading performance indicator in the industry. Open interest in DME Oman has increased steadily since launch: the previous total open interest record of 20,160 contracts was set in July 2010.
The DME has reported a 130% increase in liquidity since 2008, averaging 2,930 lots per day since the start of 2010, equivalent to approximately 3 million barrels of oil traded daily.
The DME was launched in June 2007 with the goal of bringing fair and transparent price discovery and efficient risk management to East of Suez, the world's fastest growing commodities market and the largest crude oil supply/demand corridor in the world. Today, DME Oman is the explicit and sole benchmark for Oman and Dubai crude oil Official Selling Prices (OSP), the historically established markers for Middle East crude oil exports to Asia Pacific.
Source: Dubai Mercantile Exchange Limited (DME)
Qatar market dips slightly
October 5, 2010--The QE Index lost 0.08%, closing at 7,706.81 mainly due to losses in the industrial sector. Qatar Telecom declined 0.35% to finish at QR172.80.
Earlier in the day, Qtel announced it will make it possible to top-up mobile phone accounts via the Qtel page on the popular social networking site, Facebook. More than 37,000 Qtel customers on Facebook will be able to access the service from next week.
Source: AME Info
Tadawul bourse ends rollercoaster Tuesday trading in the green
October 5, 2010--Riyadh-based Tadawul All Share Index (Tasi) stabilised Tuesday, closing 0.01% higher at 6,396.41 points.
Advances in the petrochemical sector prevented the market from falling further, as most segments ended in the red. Yanbu National Petrochemical Co. (Yansab) gained 3.85% to close at SR40.50 and shares of National Petrochemical Co. surged three percent to close at SR18.75.
Source: AME Info
Too soon to relax at Bahrain Stock Exchange
October 5, 2010--The Manama-located stock market failed to break even on a year-to-date basis. After hitting a six-month high Monday, the BSE benchmark index closed 0.34% lower at 1,450.98.
Bahrain National Holding Co. posted the largest loss (off 4.04% at BD0.380). The BSE Index ended 0.50% lower compared to the beginning of 2010.
Source: AME Info
DGCX September volumes increase 63% year on year
Total volumes for September 2010 reach 156,740 contracts, a 63% increase on last year
DGCX Indian Rupee futures set fourth consecutive monthly record
Year to date volume stands at 1.36 million contracts, a 37% increase on last year
October 5, 2010--Volumes on the Dubai Gold & Commodities Exchange (DGCX) recorded a 63% year-on-year increase, with 156,740 contracts traded, valued at US $7.85 billion in September. With trading activity on the Exchange acquiring greater momentum following the end of Ramadan and the holiday season, September volumes also rose 41% on last month.
DGCX currency futures continued to be the mainstay of growth accounting for approximately 70% of total monthly volumes. Currency futures volumes grew 304% on the same period last year to reach 112,839 contracts in September 2010.
Source: Dubai Gold & Commodities Exchange (DGCX)
Iraq raises proven oil reserves figure by 25 pct
October 4, 2010--Iraq raised its proven oil reserves figure by a quarter on Monday in a bid to match the clout of leading producer Saudi Arabia and strengthen its case for OPEC to grant it a higher output quota.
New estimates at the giant West Qurna and Zubair fields helped push the total figure to 143 billion barrels, but some analysts said they were skeptical about the massive revision and were not expecting OPEC to deal with the Iraqi quota until Baghdad manages to raise production and exports.
Source: Todays Zaman
Saudi Stock Exchange (Tadawul) – Statistical Report – 1st Nine Months 2010
October 4, 2010--At the end of the 1st nine months 2010 TADAWUL All Share Index (TASI) closed at a level of 6,392.39 points, gained 70.35 points (1.11%) over the close of the same period of the previous year .
On an YTD basis TASI registered a positive return of 4.42% (270.63 points). Highest close level for the index during the period was 6,929.40 on 26/04/2010.
Total equity market capitalization at the end of the 1st nine months 2010 reached SR 1,261.74 billion (US$ 336.46 billion), increasing by 2.54% over the end of the 1st nine months of the previous year.
The total value of shares traded for the 1st nine months 2010 reached SR 588.69 billion (US$ 156.98 billion), decreasing by 42.27% over the same period of the previous year.
The total number of shares traded* reached 25.85 billion shares for the 1st nine months 2010 compared to 47.16 billion shares traded during the 1st nine months of the previous year, decreasing by 45.18%.
The total number of transactions executed during the 1st nine months 2010 reached 15.65 million compared to 30.24 million trades during the 1st nine months of the previous year, decreasing by 48.24%.
* Adjusted to all corporate actions during the period.
Source: Tadawul
Qatar Exchange sees industry shares tumbling
October 4, 2010--The QE Index ended 0.10% lower at 7,712.61 as investors started profit booking in the industry segment.
Shares of Industries Qatar dipped 0.64% to finish at QR108.40. Commercial Bank of Qatar (CBQ) outperformed, climbing 1.52% higher to close at QR87.10. The QE Index gained 10.87% in 2010 so far, topping all other GCC exchanges.
Source: AME Info
Tadawul market lacks of impulses
October 4, 2010--The Saudi Stock Exchange's benchmark index Tasi ended 0.39% lower to close at 6,395.49. Bellwether Sabic lost 1.37% to finish at SR89.75. Sabic and partner firm Saudi Arabian Mining , also known as Ma'aden, plan to produce around one million tonnes of phosphates next year at a joint venture plant in Ras Al Zour, the Saudi Gazette has reported.
Shares of Ma'aden added 1.60%, ending at SR22.25. Real estate developer Dar Al Arkan dipped 1.49% to close at SR9.90. According to a survey done by Jones Lang LaSalle, developers expect a 12% in the real estate market in KSA for 2010, the highest yield expectation in the GCC and an increase of 1.21% over the previous year.
Source: AME Info
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