Middle East ETF News Older than One Year
Dubai stocks hit 3-month high; volumes cross 200m mark
September 7, 2010--Bulls continued to rule for the second consecutive day on the Dubai Financial Market as investors went back into the ring amid hopes the market will sustain the rally after Eid.
The DFM benchmark index on Monday rose to three-month high, supported by high volumes that crossed the 200 million mark due to increased trading activity ahead of the Eid holidays, starting tomorrow.
The DFM General Index climbed 30.79 points, or two per cent, to 1,568.88 points, its highest finish since May 31. Volumes hit a two-month high as the traders exchanged 204.06 million shares worth Dh393.38 million compared to 103.22 million shares on Sunday. Sentiments remained positive throughout the day as out of 25 shares traded on the exchange yesterday, 20 posed gains and only five declined.
Emaar Properties continued its upward trend and surged 3.14 per cent to Dh3.61 while Arabtec and Dubai Financial Market Company advanced 4.7 per cent and 5.3 per cent, respectively. This trio accounts for two-thirds of all shares traded on the benchmark.
Source: MenaFN
Arab Banking and Finance released
September 7, 2010--.Regional directory publisher Primedia International announced the release of Arab Banking & Finance in three platforms: print, online and mobile.
Published annually, the guide presents detailed comprehensive information covering banks, institutions, regional rankings, CI Ratings and more. As an added benefit, Arab Banking & Finance also publishes expert opinions on current industry trends and developments.
Source: AME Info
Qatar Exchange dips slightly ahead of Eid holidays
September 7, 2010--The QE Index ended 0.18% lower at 7,422.96 points mainly due to minor losses in the insurance sector. The Management of QE would like to inform the investors and market participants that Qatar Exchange will be closed from Sunday 12 September up to and including Tuesday 14 September 2010
in occasion of Eid Al-Fitr. Trading will be resumed on Wednesday 15 September 2010. Depending on moon sighting, if Eid Al - Fitr starts on Thursday September, 9, the QE will be closed as well on that day.
Source: AME Info
Abu Dhabi market rises by 0.57%
September 7, 2010--The ADX General Index (up 0.57% at 2,531.72 points) was lifted by advances across the board. Telecom provider Sudatel rebounded and posted the highest gain (3.98% higher at Dhs2.35)
after the firm said on Monday it expects to pay 2009 dividends to shareholders by November after a threat from the UAE's securities regulator to suspend the Sudatel stocks. First Gulf Bank. the UAE fourth largest bank, was the most liquid stocks, ending 0.15% lower at Dhs13.80.
Source: AME Info
Dubai market bullish ahead of Eid
September 7, 2010--The DFM Index surged 1.49% to 1,592.24 points ahed of Eid ul-Fitr. The DFM will remain closed from Wednesday until the fourth day of the Islamic month of Shawwal. Emaar Properties, the most liquis stock, closed 1.94% higher at Dhs3.68.
Shares of telecom provider du closed at a 14-week high at Dhs2.28 (up 3.96%). Global Investment House writes on GCC telecoms: "With the resolving of the blackberry in Saudi Arabia, the chances have become brighter for a similar deal in UAE." The UAE seeks access to transmitted data done by Blackberry users and has set a deadline until October 11. Islamic real estate developer Deyaar failed to join the sector's advances and finished 1.63% lower at Dhs0.301. Traded value and volumes declined ahead of Eid holidays by 30% and 23%, respectively as 156.32m shares worth Dhs275.76m changed hands.
Source: AME Info
Investor confidence in Dubai as hub for FDI in Middle East region grows, survey reveals
September 6, 2010--The Foreign Investment Office (FIO), an agency of the Dubai Department of Economic Development (DED), has commissioned an in-depth special study to further enhance the competitiveness of the economy.
The preliminary findings of the report which surveyed more than 1,000 global and regional investors highlight that investors have confidence in Dubai as a destination for foreign direct investments (FDI) and as the FDI hub for the wider Middle East and North African (MENA) region.
The preliminary findings identified that an impressive 54% of the participants in the survey already have a presence in Dubai and an additional 16% of global and regional investors plan to enter Dubai in the next three years.
Source: AME Info
Saudi market Tadawul joins GCC rally
September 6, 2010--The Tadawul's benchmark composite Tasi gained 0.59%, closing at a four-week high at 6,306.33 points. National Agriculture Marketing Co. (up 5.39% at SR21.50) topped the list of gaining shares, as corn and wheat prices rallied during the summer months.
Energy shares mostly underperformed while petrochemical giant Sabic added 0.29%, finishing at SR87.50. Eighty-three shares gained value, 33 lost while 19% of all 144 traded in Riyadh shares or 28 securities closed flat.
Source: AME Info
Banks, insurers lift Kuwait bourse
September 6, 2010-- The KSE Price or Market Index surged a quarter percent to 6,727.5 points as financial bellwether National Bank of Kuwait (NBK) gained 5.6% to KD1.500.
. Kuwait International Bank (KIB) failed to join the bank's bull run and finished 1.88% lower at KD0.260. On a year-to-date basis the KSE is currently trading off 3.97%, despite the latest market rally.
Source: AME Info
Saudi market Tadawul joins GCC rally
September 6, 2010--The Tadawul's benchmark composite Tasi gained 0.59%, closing at a four-week high at 6,306.33 points. National Agriculture Marketing Co. (up 5.39% at SR21.50) topped the list of gaining shares, as corn and wheat prices rallied during the summer months.
Energy shares mostly underperformed while petrochemical giant Sabic added 0.29%, finishing at SR87.50. Eighty-three shares gained value, 33 lost while 19% of all 144 traded in Riyadh shares or 28 securities closed flat.
Source: AME Info
Abu Dhabi market adds 0.40%
September 6, 2010--The ADX General Index (up 0.40% at 2,517.39 points) saw shares of Union Cement Co. from Ras al-Khaima posting the largest gain (8.46% higher at Dhs1.41).
According to Kuwait-based Global Investment House, "most of the companies have shifted their focus away from risky real estate and property investment and their investment value has already been wiped off because of the previous tumults in the equity and real estate market." Abu Dhabi Islamic Bank (ADIB) added 1.57%, closing at Dhs2.58. ADIB reported today that it led the Islamic Tranche of the Dhs4.0bn ($1.1bn) Project Finance Facility for Emirates Steel Industries, the UAE's leading steel maker.
Source: AME Info
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