Middle East ETF News Older than One Year
Merger candidates Aldar, Sorouh fall back on profit booking
June 14, 2012--The Abu Dhabi equity measure ADXGI closed insignifcantly lower at 2,446.42 points.
Abu Dhabi National Energy Company or Taqa gained against the trend, closing 1.70% higher at Dhs1.18. The emirate's largest developers and merger candidates Aldar Properties and Sorouh Real Estate fell 0.90% and 0.97%, respectively, after both firms recovered significantly in recent days on news that their merger talks were advancing. Some 45.7m shares were traded, valued at Dhs81.9m.
Source: AME Info
Dubai market falls slightly, but saves level from last week
June 14, 2012--The DFM General Index ended off 0.96% Thursday at 1,463.73 points.
The drop was not broad as seven shares advanced and 17 declined. Emaar Properties dipped 1.38% to close at Dhs2.85. It is noteworthy that shares of the DFM, the only publisly listed Arab bourse, advanced several times during the session and closed unchanged at Dhs0.96. Investment bank Shuaa Capital jumped 5.14% to hit Dhs0.696. Compared to the closing from last week, the DFMGI ended even, a first since May 22. The next resistance line is at 1,500 points, which the gauge touched on the aforementioned date, before falling back in the wake of Euro zone debt concerns.
Source: AME Info
Bahrain Bourse bounces back
June 14, 2012--Against the regional setback at markets, the Bahrain All-Share Index edged higher by 1.18% to hit 1,130.19 Thursday.
Banader Hotels Company soared 10% to close as a top gainer at BD0.066. Ahli United Bank soared 7.27%, closing at $0.59. Islamic investment bank Ithmaar dived 7.41%, finishing at $0.125. [AMEInfo.com]
Source: AME Info
Sabic gains, plans asset purchase of $8bn sukuk
June 13, 2012--The Saudi stock market Tadawul advanced 0.25% to close at 6,744.53 points Wednesday.
Bellwether Sabic, the world's largest petrochemicals producer, added 0.84%, finishing at SR90.25. Earlier in the day Sabic said it plans to purchase the assets of its second Islamic bond (sukuk) amounting to SR8bn which was issued in July 2007, in accordance with the terms and conditions of the Sukuk. In accordance with Shari'ah, sukuk must always be asset-based, as Islamic law forbids to create money out of pure monetary streams. "As a result of this, trading of the sukuk will cease on 16th June 2012 and the amounts due to the Sukukholders will be deposited to the sukuk-holders accounts on 15th July 2012 from the companys available cash. Subsequently the Sukuk will be delisted and cancelled," Sabic explained in a statement to the Tadawul bourse.
Source: AME Info
Qatar market sinks deeper into the red
June 13, 2012--Share prices and trading turnover headed south in Doha on Wednesday, as the QE 20 Index slipped a quarter percentage point to close at 8,261.09 points.
The gas-rich Gulf state's largest lender Qatar National Bank, known as QNB, also fell by a quarter percentage point to close at QR131.10. Earlier in the day QNB said it has signed a facility agreement with Qatar Fuel Additives Company Limited (QAFAC) to fund the establishment of a CO2 recovery plant. The facility is $80m, according to the bank's statement to the Qatar Exchange. Since January 1 2012, the Qatar market declined by 5.9%.
Source: AME Info
Aldar, Sorouh Real Estate recover as market Abu Dhabi measure closes flat
June 13, 2012--The ADX ended unchanged at 2,448.22 Wednesday.
Telecom operator and market bellwether Etisalat jumped one percent to hit Dhs9.19. Merger candidates Aldar and Sorouh extended their rallies, closing up 1.82% and up one percent, respectively. But ongoing global uncertainty over the Euro zone debt crisis weighed on lenders, keeping the ADX's gauge at bay. Some 32.8m shares worth Dhs53.2m changed hands.
Source: AME Info
Bahrain Bourse dives as investors dump bank shares
June 13, 2012--The Bahrain All-Share Index lost 1.55% Wednesday, closing at 1,116.99 points.
Lenders Khaleej Commercial Bank (off 7.69%, largest day-loss), Ahli United Bank (down 6.78%), and National Bank of Bahrain or NBB (1.81% lower) weighed on the gauge as global concerns over Spain's bailout request prevailed. The Manama-based market fell 2.33% since January 1, the second worst performance before Qatar (as yet), which lost 5.83% year-to-date.
Source: AME Info
Dubai market edges 0.62% higher
June 13, 2012--The DFM General Index ended slightly higher at 1,477.86 points after Asian markets bounced back and oil prices recovered to $0.67 to reach $96.13 (DME Oman Crude).
DMF bellwether Emaar Properties gained 1.40% to hit Dhs2.89. DFM shares (up half a percent at Dhs0.96) advanced, too, ahead ahead of MSCI's verdict whether or not the UAE will be upgraded to emergering market from frontier market. The index rise was not broad, as 14 shares gained, while 10 declined. Some 109.1m securities added value, valued at Dhs122.7m.
Source: AME Info
Bahrain Bourse dives as investors dump bank shares
June 13, 2012--The Bahrain All-Share Index lost 1.55% Wednesday, closing at 1,116.99 points.
Lenders Khaleej Commercial Bank (off 7.69%, largest day-loss), Ahli United Bank (down 6.78%), and National Bank of Bahrain or NBB (1.81% lower) weighed on the gauge as global concerns over Spain's bailout request prevailed. The Manama-based market fell 2.33% since January 1, the second worst performance before Qatar (as yet), which lost 5.83% year-to-date.
Source: AME Info
Saudi Cable Company gains on million dollar deal in Turkey
June 12, 2012--The Saudi Tadawul All-Share Index slipped 0.94% to 6,727.83 Tuesday, despite a relief in oil prices and a recovery at Western market late afternoon.
Saudi Cable Company closed 1.33% higher at SR15.25. Earlier in the day Saudi Cable said that its wholly owned subsidiary in Turkey, Mass Kablo, has won on an order for supply of High Voltage Cables for an important project in one of the European countries for $15.6m. "The deliveries will start from the beginning of the fourth quarter of 2012 for a period of 24 months," Saudi Cable addedd in the statement to the Tadawul bourse.
Source: AME Info
If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
