Middle East ETF News Older than One Year
Dubai market drops as investors take some profits
August 6, 2012--After rising non-stop for five sessions, The DFM General Index shed one percent Monday, closing at 1,559.06 points.
The decline was broad, as 17 out of 26 traded shares declined, while six advanced. Deyaar Development, the Islamic real estate firm, was most actively traded by volumes, closing down 5.26% at Dhs0.36. Arabtec Construction bucked the trend by gaining 0.66% to reach Dhs3.04.
Source: AME Info
Bahrain Bourse falls deeper into the red
August 6, 2012--The Manama-based Bahrain All-Share Index declined by half a percentage point to 1,090.49 points Monday.
Aluminum Bahrain or Alba lost the most, ending off 3.85% at BD0.50. Year-to-date the Bahrain Bourse lost 4.65%.
Source: AME Info
BFX total trading turnover crosses $10bn
August 6, 2012--The Bahrain Financial Exchange (BFX), the first multi-asset exchange in the Middle East and North Africa (MENA) region, proudly announces achieving a key milestone with the
cumulative (single-side) trading turnover value crossing the $10bn mark on the 1st of August 2012, with the total trading volume increasing to 196,431 contracts. [AMEInfo.com]
Source: AME Info
FTSE NASDAQ Dubai UAE 20 Index gains the fourth day straight
August 2, 2012--The FTSE NASDAQ Dubai UAE 20 Index closed at 1653.57 today, up 0.73%, from the previous close.
The index tracks 20 liquid stocks listed on DFM, the Abu Dhabi Securities Exchange and NASDAQ Dubai. It has been designed as a hedging and investment mechanism for GCC and international investors. Shares of port operator DP World rebounded 0.40% to close at $10.14.
Source: AME Info
Kuwaiti banking shares face selling pressure
August 2, 2012--The KSE Market Index could not benefit from the summer rally in the UAE and KSA.
The gauge closed unchanged at 5,723.61 Thursday. National Bank of Kuwait and Commercial Bank of Kuwait fell by one percent and five percent, respectively. Year-to-date the KSE market fell 1.56%, in stark contrast to Dubai's DFMGI (up 14.57%) and KSA's Tasi gauge (7.40% higher).
Source: AME Info
Al Khaleej Takaful considers capital increase
August 2, 2012--In Doha, the Qatar Exchange closed 0.20% higher at 8,332.35 points Thursday.
Banks kept the gauge buoyant. While Qatar National Bank ended flat at QR133.50., Al Ahli Bank surged 4.44% to hit QR58.80. Islamic insurance firm Al Khaleej Takaful plummeted 3.50% to QR42.70. Earlier in the day its board decision from Wednesday August 1, thereby approving the proposal to appoint a specialized consulting firm
Source: AME Info
Abu Dhabi Islamic Bank share price underperforms
August 2, 2012--The Abu Dhabi market index ADXGI slipped 0.35% to close at 2,507.81 points Thursday.
This was the day of the developers as Aldar Properties, Sorouh Real Estate and RAK Properties gained 3.45%, 1.90% and six percent respectively. Shares of Abu Dhabi Islamic Bank or ADIB closed unchanged at Dhs3.09. On Wednesday, ADIB said it posted a 2.3% year-on-year increase in group net profit, amounting to Dhs322.6m for the second quarter of 2012. ADIB shares trade at the same level like on January 1 2012. The ADXGI gained 4.34% in the same period.
Source: AME Info
Dubai Financial Market rises to 1,550 points
August 2, 2012--The DFM General Index added 0.18% Thursday, closing at 1,550.62 points.
A lack of catalysts led to a negative advance-decline ratio of 9 to 10. In addition, EFG Hermes said in its daily short-term update that short-term traders shall preferably take some profits. Emaar Properties and Drake & Scull International were the most liquid shares and ended flat. Investment bank Shuaa Capital jumped 2.70% to hit Dhs0.646. Some 100.5m shares were traded, valued at Dhs128m.
Source: AME Info
Al-Babtain Power & Telecom soars on deal with Saudi Electricity Co.
August 1, 2012--The Tadawul All-Share Index gained for the fifth consecutive session Wednesday, ending up 0.21% to close at a one-month high at 6,892.62 points.
Market bellwether share Sabic slipped 0.83% to SR89.75. Shares of Al-Babtain Power and Telecommunication advanced 1.50% to reach SR24. Earlier in the day, Al-Babtain said it signed a supply agreement with Saudi Electricity Company for manufacturing and supply electrical distributes steel poles. "The agreement is valued at SR125.150m by self-financing and the agreement period is 12 month Starting from the date of signature. The financial impact of this agreement is expected to be in the start of 4th quarter of year 2012," Al-Babtain added.
Source: AME Info
Kuwait market summer baisse halted
August 1, 2012--Stock markets in KSA, UAE and Qatar have seen significant index advances in recent weeks, but the Kuwait Stock Exchange failed to join and fell back.
Today, the KSE Market Index stopped to decline and closed 0.05% higher at 5,721.72 points. National Bank of Kuwait recovered from its 8-month low by gaining 1% to close at KD1.00.
Source: AME Info
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