Middle East ETF News Older than One Year
Abu Dhabi-listed developers return to growth path
March 14, 2013--The ADX General Index advanced 0.73%, closing at 3,030.37 points Thursday.
Eshraq Properties (up 1.64%) was the most liquid share, while RAK Properties jumped 3.57%. Merging developers Aldar and Sorouh, the top real estate firms in the UAE capital, gained 0.72% and 0.58%, respectively.
Source: AME Info
Mid-cap shares defy Dubai market decline
March 14, 2013--With Emaar ending flat at Dhs0.486 and Arabtec closing down 0.94% at Dhs2.11, the DFM General Index ended Thursday trading off 0.30% at 1,916.21 points.
Like yesterday, shares from the "second row" gained in value. Shuaa Capital advanced the second day straight to hit Dhs0.587 (up 0.51%). Air Arabia gained likewise half a percentage point and finished at Dhs0.923. Union Properties added 0.24% to close at Dhs0.41. Market breadth was neutral as 13 stocks advanced, while 14 declined. Some 210m shares were traded, valued at Dhs225m.
Source: AME Info
DP World rises to 4.5-year high
March 14, 2013--NASDAQ Dubai-listed shares of Dubai Ports (DP) World, the 3rd biggest maritime port operator, jumped 5.882% to reach $14.40 Thursday.
This represents the highest price level since the beginning of Sep. 2008, shortly before Lehman Brothers went bankrupt and triggered the global financial crisis. The FTSE NASDAQ Dubai UAE 20 Index index closed 0.96% higher at 2247.33.
Source: AME Info
DGCX Selects MSCI Indices for Emerging Markets Equity Products Expansion
March 13, 2013--Dubai Gold and Commodities Exchange (DGCX) announced today that it has signed a licensing agreement with MSCI, a leading provider of investment decision support tools, to create a futures contract based on the MSCI India Index.
The MSCI India Index represents 72 locally listed entities in India and covers approximately 85% of the Indian equity market[1]. The MSCI India Index is designed to measure the performance of large and mid cap companies in India. The DGCX MSCI India Index Futures will act as an efficient hedging tool and will also facilitate trading mandates of global institutional investors seeking exposure to one of the world’s largest and fastest growing Emerging Markets.
Source: Dubai Gold and Commodities Exchange (DGCX)
KSA's National Medical Care accomplishes IPO mission
March 13, 2013--The Saudi bourse continued its oscillograph-style trading on Wednesday.
The Tadawul All-Share Index gained 0.56% to reach 7,025.37 points. Since the start of 2013, the gauge has been trading in a range between 7,000 - 7,165 with narrowing Bollinger bands. Sabic added 0.27% to reach SR93.50. National Medical Care Co. successfully completed its IPO in Riyadh, as the 2003-founded healthcare firm listed 13.5m shares, representing 30.10% of the company. National Medical Care opened at SR81 and closed at SR122 on the first day of trading
Source: AME Info
Qatar bourse consolidates above 8,500 points
March 13, 2013--The QE 20 Index advanced 0.25%, closing at 8,533.32 Wednesday.
The banking and industrials sector indices outperformed, while insurers performed weaker. Al Khaleej Takaful Group closed flat at QR48.30. At the Islamic insurer's AGM and EGM, shareholders gave green light to the board of directors' recommendation to distribute cash dividends to shareholders by 10% of the paid up capital QR1 per share.
Source: AME Info
DP World hits near 2-year high
March 13, 2013--The FTSE NASDAQ Dubai UAE 20 Index 0.23% higher at 2225.96 today.
DP World jumped 3.11 percent to hit $13.60, the highest price level since May 2011. Interior designer Depa Ltd. closed unchanged at $0.42.
Source: AME Info
Saudi bourse joins global 'pause' mood
March 12, 2013--The Tadawul All-Share Index ended Tuesday trading 0.63% lower at 6,986.45 points as most indices in Asia, Europe and the U. S. fell slightly after reaching record- and multi-year highs.
Gulf General Cooperative Insurance Company lost the most in Riyadh, closing off 6.36% at SR55.25. Sabic, the world's top petrochems producer, finished unchanged at SR93.35.
Source: AME Info
Qtel advances as re-branding to Ooredoo is sealed
March 12, 2013--The Qatar Exchange 20 Index declined 0.40% to 8,512.18 points Tuesday.
Qatar Telecom or Qtel added 1.32% to reach QR114.90. Earlier in the day, the telco giant said that at major event in Qatar, leading communications company Qtel (Qatar Telecom) rebranded as Ooredoo (Arabic for "I want"). "More than 2,000 people attended the event, which was broadcast live on Qatar TV. Attendees included government ministers, ambassadors, media professionals and customers of the company, which was established as Qatar Telecom back in 1987."
Source: AME Info
Qatar Islamic Bank shareholders okay 35pct cash dividend
March 11, 2013--The QE 20 Index advanced 0.30%, finishing at 8,544.41 points.
Qatar Islamic Bank, known as QIB, gained 0.42% to hit QR71.60. Earlier in the day, QIB said the annual general assembly approved the board's recommendation to distribute cash dividends equaling 35% of the shares nominal value i.e. QR 3.5 per share for the year 2012.
Source: AME Info
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