Middle East ETF News Older than One Year
Lackluster Bahrain Bourse bucks sluggish global trend
September 4, 2013--Against all odds, the Manama-based market index added 0.04% to close at 1,184.92 points.
Trading activity was concentrated on the financial sector. Ahli United Bank advanced 0.74%, while Islamic bank Ithmaar closed unchanged. Al Salam Bank Bahrain dived 5.62%, finishing an unspectacular trading day as a top loser.
Source: AME Info
Missile maneuver drags Saudi market index down
September 3, 2013--The Tadawul All-Share Index closed 1.29% lower at 7,831.76 points on Tuesday.
Earlier in the day, Russia broke the news by saying that two missiles were launched in the Mediterranean Sea. Afterwards, Israel confirmed and said they were part of a joint maneuver with U. S. forces using live rounds. The incident rose tensions again around the civil war in Syria. Last week the U. S. threatened to attack the Syrians with military force. In Riyadh, Sabic closed flat, while Islamic banking giant Al Rajhi fell 0.64% to SR77.50. Islamic insurance operator Aljazira Takaful Taawuni Company jumped 4.76% to reach SR60.50 (top gainer).
Source: AME Info
Selling pressure keeps Doha market at bay
September 3, 2013-The QE 20 Index ended off 0.85% to 9,536.12 points on Tuesday.
Qatar National Bank, the biggest lender in the GCC by assets, finished as a lonely gainer among the financial shares, closing 0.42% higher at QR168. Islamic Holding lost the most, ending down 4.30% to QR39. Gulf Warehousing Company posted the largest increase, ending up 1.75% at QR40.80.
Source: AME Info
Abu Dhabi bourse loses 1.83%
September 3, 2013--The ADX General Index closed 1.83% lower at 3,733.96 points on Tuesday.
Green Crescent Insurance Industry gained the most, closing 6.67% higher at Dhs1.28. Aldar Properties dived 5.81% to Dhs2.43. Market bellwether Etisalat lost Dhs0.25, finishing at Dhs11.50. Around 200m shares were traded, valued at Dhs281m.
Source: AME Info
Dubai market plummets on flat HSCB UAE Purchasing Managers' Index
September 3, 2013--The Dubai Financial Market General Index failed to crack the 2,600 resistance barrier in the first hours of trading and eventually closed 3.72% lower at 2,489.38 points on Tuesday.
Three shares advanced, while 25 declined in value. Earlier in the day, the seasonally adjusted HSBC United Arab Emirates PMI™ – a composite indicator designed to provide a single-figure snapshot of the performance of the non-oil private sector – was released, showing the gauge stood at 54.5 in August, unchanged from July’s reading. An HSBC UAE PMI index above 50 indicates an expanding economy and vice versa. Nevertheless, HSCB said that the job market was expanding and that inflationary pressure remained low. Shares of Islamic financial institution Ajmanbank and Shuaa Capital gained 1% and 0.70%, respectively. Union Properties, Dubai's second developer dived 5.46%, while market bellwether Emaar plummeted 5.43% to Dhs5.57. Trading volumes reached a record of 1.4bn shares being traded, valued at Dhs1.4bn.
Source: AME Info
Bahrain bourse hit by all losers trading day
September 3, 2013--Like all other GCC markets, the Manama-based Bahrain Bourse ended in the red on Tuesday after reports about a joint US/Israeli missile test in the Mediterranean which Russia made public spoiled the investors' mood.
The Bahrain All-Share Index declined by 0.36% to 1,184.40 points on Tuesday. Islamic bank Al Salam Bahrain lost the most (off 4.30% at BD0.089. Not a single stock gained value in Manama.
Source: AME Info
Tadawul bourse re-flirts with 8,000 points
September 2, 2013--The Saudi Arabian equity market measure Tasi gained 0.7% to hit 7,933.95 points, a one-week high after the Syria tensions pulled the gauge down to 7,722.
On Monday, Sabic added 0.26% to close at SR96.50. The Saudi market bellwether has been trading in a range between SR90 to SR98 for the last six months. Abdullah A. M. Al-Khodari Sons Company soared two percent, finishing at SR35.60. Earlier in the day, the contracting firm said the financial impact of a project for a 300 bed maternity hospital awarded by the Ministry of Health, valued at SR245m is expected to start in the third quarter of the financial year 2013.
Source: AME Info
Kuwait Stock Exchange falls below 7,600
September 2, 2013--Despite easing tensions in the crisis in Syria, the KSE Market Index head down by 27.6 points to close at 7,595.8 points on Monday.
Osoul Investment Co. gained the most (up 8%). IFA Hotels and Resorts ended as the top losing shares, finishing off 7.14% at KD0.650.
Source: AME Info
Tadawul bourse consolidates rebound and leaves Syria shock behind
August 29, 2013--The Tadawul All-Share Index closed 0.20% higher at 7,766.52 points on Thursday.
Earlier in the day, National Bank of Abu Dhabi's research department said that in July 2013 oil production in KSA edged up to 9.47 million barrels per day. "Saudi Arabia benefited from the instability in some of the oil producing countries and trade restrictions," said NBAD. Whilst market bellwether Sabic lost 0.52%, liquid shares such as Saudi Hollandi Bank (up 3.66%, top gainer), Yanbu Cement (2.70% higher) or Islamic financial institution Alinma Bank (gaining 0.36%) helped the gauge to finish in the green. Saudi International Petrochemical Co., better known as Sipchem, finished the month of August flat at SR23.75. Earlier in the day, Sipchem announced the start-up of its ethyl acetate and butyl acetate plant owned by Sipchem Chemicals Company (fully owned by Sipchem) at its complex in Jubail Industrial City. Production will kick off on Sunday Sept. 1. "The financial impact of the operations will be shown in the financial statements for the third quarter of this year," said Sipchem.
Source: AME Info
Kuwait market index falls to 4-month low
August 29, 2013--The sellout continued in Kuwait City on Thursday, as the KSEMI fell by 75 points to 7,632.57, the lowest level since May this year.
In contrast to the exchanges in Doha and Rirahd, the market sentiment in the northern Gulf state failed to recover from the 'Syria panic'. Shares of Kout Food Group gained the most (up 6.76%). Gulf North Africa Holding posted the largest downtick, finishing the "week to forget" 8.47% lower at KD0.054.
Source: AME Info
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