Middle East ETF News Older than One Year
Arabtec ends 7-day losing streak, Dubai bourse bounces back
March 7, 2013--The Dubai Financial Market General Index closed 0.40% higher at 1,882.07, thanks top a last-minute rally triggered by bargain hunters.
Arabtec Construction finished up 3.92% at Dhs2.12, ending a painful losing streak which dragged the UAE's first real estate builder down to a 3.5-month low. Developers Emaar (up 1.12% at Dhs5.40) and Union Properties (gaining 1% at Dhs0.407) also helped the gauge to stay afloat as European and U. S. stock indices reached multi-year highs this week. National General Insurance or NGI lost the most (off 10% at Dhs6.84).
Source: AME Info
Bahrain's Ithmaar Bank has 52-week high in sight
March 7, 2013--The Bahrain All-Share Index added 0.16%, closing at 1,099.79 points Thursday.
Islamic financial institution Ithmaar Bank jumped 7.70% to close at $0.21. Its rival Al Baraka Banking Group, the oldest Islamic bank in the kingdom (founded in 1979), declined 1.37% to $0.72.
Source: AME Info
Tadawul exchange rises back to 6,999 points
March 6, 2013--With oil prices rebounding by 1.2% to 106.92 U. S. dollars per barrel (DME Oman crude), lifted the Saudi stock market by 0.70% to 6,999.53 points.
The world's first petrochemicals producer Sabic was the most liquid share and rose 0.27% to reach SR92.50. Salama Co-operative Insurance Co. fell the most (down 5.96% at SR51.25).
Source: AME Info
Banks keep Bahrain Bourse afloat
March 6, 2013--The Bahrain All-Share Index advanced 0.47% Wednesday, closing at 1,097.98 points.
Islamic bank Gulf Finance House, known as GFH, surged 4% to reach $0.13. Its rival Ithmaar bank closed 2.63% higher at $0.195. Khaleji Commercial Bank failed to jump on the bulls' bandwagon, ending off 2.63% at BD0.037.
Source: AME Info
Gulf Warehousing get shareholders' nod for distributing bonus shares
March 6, 2013--The QE 20 Index added 0.18% to close at 8,495. 25 points Wednesday.
Qatar National Bank, the GCC's biggest lender in relation to assets under management, gained 1.54%, finishing at QR132.10. Gulf Warehousing Co. finished even at QR44.00. On Tuesday, the logisics firm's shareholders approved yesterday the distribution of 20% bonus shares.
Source: AME Info
Saudi bourse stabilises amid positive market breadth
March 5, 2013--The Riyadh-based benchmark index Tasi ended even at 6,953.21 points Tuesday.
Sabic advanced 0.27% to reach SR92.25. Wafa Insurance lost the most (off 3.08% at SR70.75).
Source: AME Info
Almarai to launch second Saudi riyal-sukuk
March 4, 2013--The Saudi Stock Exchange's benchmark index Tasi closed 0.45% lower at 6,956.53 points.
While market bellwether SABIC added 0.27% to reach SR92. Dairy food giant Almarai ended unchanged at SR66.00. Earlier in the day, Almarai said it plans to issue its second tranche of an SR-denominated Islamic bond (sukuk) under its sukuk programme, totaling SR2.3bn ($613m), in line with the approval of the extraordinary general assembly held on Nov. 19 2011. This second tranche of Sukuk will be a private offering to sophisticated investors resident in the Kingdom of Saudi Arabia. Subject to market conditions, Almarai will hold several meeting during the next two weeks, with interested investors. "Shareholders will be updated with any progress in this regard," said Almarai which has mandated NCB Capital to act as sole dealer for this second tranche of sukuk.
Source: AME Info
Bahrain's Investcorp seals $155m private equity deal
March 4, 2013--The Bahrain All-Share Index closed off 0.34% at 1,093.73.
Bahrain Islamic Bank lost the most (down 5.19% at BD0.073). Its rival Ithmaar Bank gained the most (up 8.33%), Private equity giant Investcorp (not traded) said it completed the sale of Europe's industrial supplier IPH Group to PAI Partners, Paris-based PE firm. The deal generated in excess of EUR120m ($155.85m).
Source: AME Info
Banks weigh on Bahrain bourse
February 28, 2013--The Bahrain All-Share Index declined 0.67% to 1,089.94 points Thursday.
Nass Corp. gained the most (up 1.83%). Khaleeji Commercial Bank dived 7.50% to BD0.037. Islamic banks Salam Bank Bahrain (off 4.90%) and Ithmaar Bank (2.94% lower) also dragged the Manama-based gauge down.
Source: AME Info
Doha bourse ends 5-day losing streak
February 28, 2013--The QE 20 Index ended up 0.44% at 8,528.58 points.
Qatar National Bank advanced 0.15% to close at QR129. Doha Bank surged 1.82%, finishing at QR44.80. Qatar Insurance fell 2.42% to QR52.50. Qatar National Cement Co. slipped 0.29% to QR104. Earlier in the day, National Cement said Qatar National Cement said the financials for 2012 revealed a net profit of QR425.3m in 2012 versus QR456m in 2011. The company’s earnings per share (EPS) in 2012 amounted to QR8.66 versus QR9.29 in 2011. "The Board of Directors recommended a dividend payout per share of QR6, representing 60% of nominal value," said the firm.
Source: AME Info
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