Middle East ETF News Older than One Year
Petrochemicals support Saudi market index
October 24, 2013--The benchmark index of the Saudi stock market advanced 0.3 percent to 8,171 points, a fresh two-month high.
Food firm Savola Group climbed 1.3 percent to a two-month high on Thursday after posting estimate-beating earnings.
The firm's third-quarter profit rose 12.9 percent, and it proposed a quarterly dividend of SR0.5.
Source: Arab News
Gulf's global oil share sharply down in 20 years
October 24, 2013--Decline was mainly due to steep rise in reserves of Canada and Venezuela.
Gulf countries now control around 42 per cent of the world's total proven oil resources, sharply below their share of nearly 63 per cent 20 years ago.
The decline was mainly due to a steep rise in the crude reserves of Canada and Venezuela although there was a large increase in the oil resources of Iraq and Iran.
Source: Emirates/24
UAE share markets trade in opposite directions
October 23, 2013--The UAE stock markets traded in opposite directions for a third straight day yesterday. While the Dubai Financial Market ( DFM ) index rose on increased investor interest in blue chip stocks, the index in Abu Dhabi declined, paring Monday's gains.
In Dubai, the DFM index closed 0.51 per cent higher at 2,923.89. The investor appetite reflected in higher volume of share transactions. As many as 1.3 billion shares cumulatively worth Dh1.35 billion were traded as investors mainly bought shares in Gulf Finance House, Deyaar, Union Properties, Air Arabia and Arabtec, all of which witnessed an appreciation in value. Of the 31 company stocks traded on the market, 14 rose, while 12 closed lower and 5 remained unchanged.
Source: Zawya
IPO volume to grow in Gulf markets
October 22, 2013--While the regional and international equity markets have generally been depressed post global financial crisis, early signs of recovery are appearing with higher volumes being traded on some of the regional exchanges, and more interest from foreign investors.
On the other side, the GCC economies are showing positive signs of recovery across a multitude of sectors, including retail, tourism, real estate and infrastructure.
Source: Zawya
UAE markets trade in opposite directions for a second straight day
October 22, 2013--The UAE stock markets traded in opposite directions on Monday. While the Dubai market index ended fractionally lower on profit-taking, the Abu Dhabi market gauge gained 1.1 per cent as investors viewed
some of the listed stocks as oversold and bought their shares at attractive valuations.
Source: Zawya
High-value MidEast mergers, acquisitions due by year-end
October 22, 2013--Several high-value mergers or acquisitions are expected to take place in the Middle East and North Africa before the end of the year, ending a dismal 12 months of deal making in the region, according to an international report.
Deal volumes have fallen each of the past four quarters, with only one notable merger during Q3 2013.
Source: Arabian Business.com
Dubai's stock market hits new five-year high
October 22, 2013--Dubai's bourse climbed to a new five-year high on Tuesday but profit-taking pressure was increasingly seen at the highs, while other Gulf markets were mixed.
Shares in Dubai telecommunications operator Du gained 2.4 percent, having risen as much as 5 percent earlier in the day, but trading volume in the stock was thin. Another relatively illiquid stock, Mashreq, surged 7.5 percent.
Source: Arabian Business.com
Egypt: EGX Gains EGP 3.3 Billion
October 21, 2013--Indices of the Egyptian Exchange (EGX) closed Sunday's session collectively up, backed by wide purchases by investors.
The market capital gained about EGP 3.3 billion.
The EGX 30 benchmark index went up by 1.04 per cent to close at 6,049.09 points.
Source: AllAfrica.com
DFM index surges 2.79% on global cues
October 21, 2013--The Dubai Financial Market (DFM), re-opening after the Eid holidays, rallied on Sunday with its benchmark index closing at its highest level since October 2 after the US staved off a potential default.
Last week, the US Senate passed a bill that ended the Washington showdown over the country's debt limit and reopened the federal government.
Source: Zawya.com
DGCX volumes grow 69%
October 14, 2013--Year-to-date volumes on the Dubai Gold and Commodities Exchange (DGCX) registered a growth of 69 per cent over last year, with a total of 11,357,329 contracts traded until the end of the third quarter of 2013.
The growth was supported by a 2 per cent year-on-year rise in monthly volumes in September, which saw 988,269 contracts worth $28 billion being traded.
Source: Zawya
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