Middle East ETF News Older than One Year
Qatar market breaks through 8,500
August 23, 2012--The QE Index added 0.10% to close at 8,503.64, representing the highest level since May 28.
Qatar Islamic Bank or QIB closed flat at QR7.90. Earlier in the day, ratings agency Fitch affirmed the Shari'ah-compliant bank's 'A' rating. QIB said in a statement to the bourse that "This is testimony to the solidity of the bank overall in what remain uncertain economic conditions worldwide. Fitch also recognises that the Qatari government has a history of both willingness and ability to support its banks, which also has a positive influence on the Bank’s rating."
Source: AME Info
Abu Dhabi bourse hits to six-month high
August 23, 2012--United Arab Emirates: The ADX General Index rose for the ninth consecutive trading session Thursday, closing a quarter percentage point higher at 2,955.34.
Abu Dhabi Commercial Bank or ADCB and telecom giant Etisalat fuelled the rise, gainig 0.30% and 0.42%, respectively. Real estate merger candidates Aldar Properties and Sorouh Real Estate closed even. Some 32.5m shares worth Dhs41.5m changed hands.
Source: AME Info
Abu Dhabi bourse hits to six-month high
August 23, 2012--The ADX General Index rose for the ninth consecutive trading session Thursday, closing a quarter percentage point higher at 2,955.34.
Abu Dhabi Commercial Bank or ADCB and telecom giant Etisalat fuelled the rise, gainig 0.30% and 0.42%, respectively. Real estate merger candidates Aldar Properties and Sorouh Real Estate closed even. Some 32.5m shares worth Dhs41.5m changed hands.
Source: AME Info
Last-minute swing keeps Dubai market back to track
August 23, 2012--The DFM General Index gained 0.72% Thursday, closing at 1,587.42 points.
Shares of Islamic property firm Deyaar Development jumped 13.35% to hit Dhs0.399. Deyaar reported on August 15 that its second-quarter net profit has doubled to reach Dhs18.6m, compared with Dhs9.4m in the previous quarter. Islamic home financing company Tamweel (off 0.80% at Dhs1.24) and its major shareholder Dubai Islamic Bank (down one percent at Dhs1.96) failed to join the rebound. Some 126m shares were traded, valued at Dhs117.3m.
Source: AME Info
Alba, Batelco weigh on market index
August 23, 2012--The Bahrain Bourse declined 0.75% to 1,075.33 Thursday. Aluminium Bahrain or Alba dived four percent to close at BD0.48.
Bahrain Telecom, known as Batelco, lost 1.46% in value and ended at BD0.404. Year-to-date, the Baharain Bourse fell by six percent, representing the worst perforamce in the GCC in 2012 (as yet). Islamic bank Ithmaar bucked the trend and gained Thursday 7.14% to reach $0.145. [AMEInfo.com]
Source: AME Info
Abu Dhabi bourse hits to six-month high
August 23, 2012--The ADX General Index rose for the ninth consecutive trading session Thursday, closing a quarter percentage point higher at 2,955.34.
Abu Dhabi Commercial Bank or ADCB and telecom giant Etisalat fuelled the rise, gainig 0.30% and 0.42%, respectively. Real estate merger candidates Aldar Properties and Sorouh Real Estate closed even. Some 32.5m shares worth Dhs41.5m changed hands. []
Source: AME Info
Qatar Exchange knocks at 8,500 points
August 22, 2012--The QE 20 Index closed 0.10% higher at 8,495.34 points.
While most bank shares suffered losses, market leader Industries Qatar gained one percent to hit QR139. 17 shares gained and 17 fell in value, while 5 ended flat.
Source: AME Info
Kuwait Stock Exchange is back on track
August 22, 2012--The KSE Market Index posted the highest gain in the GCC Wednesday, closing up 0.80% at 5,765.44 points.
Investors Holding Group gained the most (up 11.43%). National Bank of Kuwait, the country's largest lender by assets and markect cap, ended even at KD1.000.
Source: AME Info
Oil price rally pushes Abu Dhabi market higher
August 22, 2012--The Abu Dhabi market index ADXGI gained 0.53% to hit 2,589.50 points Wednesday as DME Oman Crude Oil consolidated at a four-month high (up $0.06 at $112.08).
Market bellwether Etisalat hit Dhs9.50 (up 1.40%), the highest level since June 21. Abu Dhabi National Energy Co., known as Taqa, ended flat at Dhs1.29. National Takaful Co. or Watania dived four percent to close at Dhs0.95.
Source: AME Info
Dubai market misses positive post-Eid debut
August 22, 2012--On the first day of trading after Eid holidays, the DFM General Index slipped 0.30% to 1,576.15 points Wednesday.
The gauge opened higher but eventually the advance melted away due to losses at Emaar (down 0.90% at Dhs3.43), Du (off 0.60% at Dhs3.55) and Arabtec (1.05% lower at Dhs2.82). Real estate maintenance firm Drake and Scull International gained one percent to hit Dhs0.91. Around 108m shares were traded, valued at Dhs116.5m.
Source: AME Info
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