Middle East ETF News Older than One Year
Saudi Tadawul bourse adds a quarter percent
Augus 23, 2010--The energy and utiliies sector index (up 2.39%) was the main driving force behind the Tadawul market's advance of 0.26% on Monday. Saudi Electricity surged 2.59% at SR13.85.
The Kingdom aims to invest $80bn in order to double ist power capacity until 2020. Saudi Arabia's Knowledge Economic City (KEC) and closed 1.69% higher at SR9.05. KEC shares were listed on August 9 at SR10.00 in a $272 IPO. Insurers and cement producers mostly last value.
Source: AME Info
Dubai Gold And Commodities Exchange Weekly Views-August 22, 2010
August 22, 2010--Commodities Overview
The release of mixed economic data in the United States pushed and pulled at many commodities prices last week. Better than expected U.S. industrial production figures for July temporarily boosted sentiment across the equity and commodities markets. However, concerns over a slowing economic recovery in the United States, Japan, and Europe capped the price gains for many industrial commodities, like crude oil and silver.
These concerns meanwhile resulted in increased demand for gold. Gold prices continued to edge higher in a choppy fashion last week. Commodities with industrial end uses came under pressure after leading indicators for the United States in July were weaker than expected. Silver and crude oil closed lower for the week. With heightened concerns over the near term global economic recovery, market participants may continue to take direction from economic reports. Economic data releases in the U.S. may continue to give mixed signals this week, with certain segments of the economy faring better than others.
Currencies Overview
After several weeks of volatile moves in the major currency markets, exchange rates were relatively range-bound last week. Shifts in investor sentiment toward safe haven currencies in the second half of last week partially offset moves seen earlier in the week. The U.S. dollar rose against most major currencies as investors' appetite for riskier assets, including stocks, continued to decline following the poor U.S. jobless-claims and manufacturing reports on 19 August. Meanwhile in Europe remarks made by the European Central Bank, indicating that they would likely wait until 2011 to begin phasing out short-term stimulus, amplified concerns about the economic recovery in that region. While the outlook for economic activity in Japan also weakened, with lower than expected gross domestic production estimates in the second quarter, demand for the yen strengthened last week.
Source: Dubai Gold And Commodities Exchange (DGCX)
Dubai market finishes the week positively
August 19, 2010--The DFM General Index ended 0.72% higher at 1,492.16 points, lifted by rebounds in the real estate sector. The industry's bellwether Emaar Properties gained 1.88%, closing at Dhs3.25.
Banks performed bullish as well, as Shuaa Capital surged 2.70% (at Dhs0.95). Dubai Ports (DP) World jumped 5.66% to $0.523. 18 shares advanced while five securities declined and five ended flat. Traded value doubled to Dhs111.4m, while 68.59m (73% higher).
Source: AME Info
Abu Dhabi bourse adds 0.42%
August 19, 2010--The ADX General Index closed at 2,506.29 points, recovering from heavy losses at the beginning of the week as the benchmark closed 10 points higher compared to the finish of last week.
National Bank of Abu Dhabi (NBAD), the emirate's largest lender, added 1.79% and finished at Dhs11.45. Its rival First Gulf Bank closed 0.36% lower at Dhs13.95.
Source: AME Info
Bahrain bourse ends slightly lower
August 19, 2010--The BSE benchmark index weakened on Thursday, as profit taking dragged the market 0.31% lower to 1,409.12 points.
Islamic bank Ithmaar lost 6.9% (at $0.135), after its shares hit a seven-week high on Tuesday. Arab Insurance Group plummeted 9.80% to $0.46.
Source: AME Info
Qatar Exchange closes slightly higher at 7, 077 points
August 18, 2010--The QE Index added 0.21% due to advances in the banks and services industry sectors. Al Khaliji Commercial Bank (up 1.96% at QR15.40)outperformed all other financial shares. Gulf Warehousing Co. (gaining 1.74%, closing at QR17.80)
was the most liquid stock in relation to trading volumes. Some 3.4m stock changed hands in Doha.
Source: AME Info
Abu Dhabi bourse gains insignificantly
August 18, 2010--With only a few significant movements being seen, the Abu Dhabi market ADX ended 0.05% higher at 2,495.70 points. The exchange's heavyweights ended on a mixed note, such as Aldar Properties (up 0.47% at Dhs21.3) or Dana Gas (down 1.28% at Dhs0.76).
Eleven shares gained in value, 11 ended flat and seven stocks declined.
Source: AME Info
DFM and ADX close firmer
August 18, 2010--Dubai Financial Market (DFM) continued its momentum on Tuesday with all sectoral indices ending in positive terrain, pushing the benchmark index to 1487.28, up 13.57 points or 0.92
at the end of trading session.All sectors posted gains with the real estate, finance and telecom leading the way.
Source: Zawya
Yemen oil revenues on the rise
August 17, 2010--According to the central bank of Yemen, oil revenues for the year have climbed to $1.132bn from $483.24m for the same period of 2009, Yemen Observer has reported.
The government share of January-May exports amounted to 14.46 million barrels at an average sales price of $78.28 per barrel. This compared with 10.16 million barrels at an average price of $47.56 per barrel for the first five months of 2009. The country's oil sector accounts for 92% of exports and 30% of GDP.
Source: AME Info
Kuwait stock exchange halts trading in 24 companies
August 17, 2010--The Kuwait Stock Exchange has halted trading in the shares of 24 companies for failing to publish their second-quarter earnings on time, Reuters has reported.
The 24 halted firms, most of which are investment companies, include Aref Investment Group, Kuwait Investment Co and Industrial Investments Co among others.
Source: AME Info
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