Middle East ETF News Older than One Year
Tadawul market hard on the heels of Dubai bourse's first quarter performance
March 26, 2012--Contrary to most GCC markets declining on Monday, Saudi investors continued to push the Tadawul All Share Index (Tasi) up.
The gauge added 0.31% to reach 7,782.85 points, although eight sector indexes fell, while six ended higher. Local and regional bellwether Saudi Basic Industries Corporation or Sabic added 0.23%, while Saudi Enaya Cooperative Insurance Company gained the most (up 9.77%). Year-to-date, the Riyadh-based euqity measure soared 21.27%, while the Dubai Financial Market (DFM) General Index 22.32%.
Source: AME Info
Abu Dhabi stock market dips amid lacklustre trading
March 26, 2012--The ADX General Index closed 0.40% lower at 2,577.40 points, as telco provider Etisalat fell 0.32%. Aldar Properties,
Dana Gas, Union National Bank and Waha Capital closed even. Some 56.3m shares were traded, valued at Dhs78m.
Source: AME Info
DP World recaptures $11 as port operator is ready to repay $3bn loan
March 26, 2012--The FTSE NASDAQ Dubai UAE 20 Index closed off 0.35% at 1654.560 today.
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. While Depa Ltd. and Damas International closed even, shares of maritime port operator DP World closed 0.10% higher at $11.00. Earlier in the day, DP World announced that it will repay a $3bn revolving loan in April, ahead of its maturity in October this year, Gulf news reported. DP World will use its own cash reserves to pay off the loan.
Source: AME Info
Qatar Exchange 20 Index gains the third trading session straight
March 26, 2012--The Doha-based equity gauge increased its level by a quarter percent to close at 8,726.50 points.
Banks ended mixed, as Qatar National Bank (off 0.10%), the country's number one lender, weighed on the gauge, while the second largest bank Commercial Bank of Qatar or CBQ added 0.93%. The Qatar Exchange is on the way to finish the first quarter in the red (0.53% since January 1) unless the Doha bourse can regain territory in the remaining three trading sessions in March.
Source: AME Info
Real estate shares weigh on Dubai bourse
March 26, 2012--The DFM General Index slipped 0.82% to close at 1,655.46 points, as fund managers start to book profits at the end of a strong first quarter.
Real estate firms Emaar Properties (off one percent), Deyaar Development (down 2.67%) and Union Properties (losing 2.26%) weighed on the gauge. District cooling specialist Tabreed was the most liquid share and jumped two percent. Some 205m shares were traded, valued at Dhs216.5m. Market breadth turned negative as seven shares fell, while 19 declined. Since January 1 2012, the DFMGI gained 22.32%.
Source: AME Info
Dubai market ends week with a small gain
March 22, 2012--The DFM General Index closed 0.29% higher at 1,660 Thursday, as Emaar found its way back to Dhs3.00, while cooling speacialist Tabreed, as the most liquid share, soared 8.44%.
The UAE's largest lender by assets Emirates NBD aded 0.65%. Earlier in the day, ENBD said in a media release it has mandated Bank of America, Merrill Lynch, Deutsche Bank, Emirates NBD Capital, HSBC and NBAD, as joint lead managers and joint bookrunners for an upcoming US Dollar Regulation transaction, under Emirates NBD’s $7.5bn Euro Medium Term Note Program. Some 266m shares were traded, valued at Dhs342m.
Source: AME Info
Abu Dhabi listed banks drag equity market down
March 22, 2012--The ADX General Index ended a tricky wekk one percent lower at 2,568.29 points.
The UAE's second lender National Bank of Abu Dhabi dived five percent, while RAK Bank (off 2.90%) and Union National Bank (down 1.50%) also weighed on the gauge. Weaker than expected purchase manager indexes (PMI) in Germany and France triggered selling waves at Western stock markets Thursday. Aviation and maritime leasing specialist Waha Capital was the most liquid share and soared 7.50%. Around 82m shares were traded, valued at DHs95m.
source: AME Info
Maritime port operator DP World falls below $11 at NASDAQ Dubai
March 22, 2012--The FTSE NASDAQ Dubai UAE 20 Index closed at 1652.09 today, off 0.29%, from the previous close.
Market bellwether Dubai Ports (DP) World fell 1.80% to $10.90 after a decline in manufacturing Purchasing Manager Indexes in Germany and France triggered fears of new woes for the global economy. On Wednesday, IMG Managing Director Christine Lagarde warned rising tensions between the West and Iran could drive oil prices higher and put the world economy's revovery in danger. Interior designer Depa Limited closed even at $0.45.
Source: AME Info
TASE Launches 3 New Corporate Bond Indices and Upgrades Bond Index Methodology
March 21, 2012--At its meeting of 1/3/2012, the Tel Aviv Stock Exchange (TASE) Board of Directors approved the launch of three new Tel Bond indices, and amendments in the methodology for calculating corporate bond indices. This was held in order to improve the liquidity of TASE's corporate bonds market.
The new Tel-Bond indices, scheduled for launch on 1 May 2011, are:
Tel Bond CPI Linked Index – comprises all CPI-linked corporate bonds included in the bond index universe, which is being launched under the new methodology.
Tel Bond CPI Linked SmallCap Index– comprised of all CPI-linked bonds included in the bond index universe that are not constituents of the Tel Bond-60 index.
Tel Bond CPI Linked Banks Index - comprised of all CPI-linked corporate bonds issued by banks that are included in the bond index universe.
Source: Tel Aviv Stock Exchange (TASE)
Dubai market rebounds as U. S. signals some detente towards Iran
March 21, 2012--The DFM General Index rose to 1,655.50 points Wednesday, driven by gains in bellwether Emaar Properties (up 0.67% to Dhs2.99), DFM (2.68% higher) and Tabreed (gaining two percent).
Earlier in they day the U. S. state department declared it exempted 11 states from tough sanctions which would be imposed uopn them, in case they were not reducing oil imports from Iran. The U. S. move slightly reduced the 'fear factor' at Arab and Western markets. Air Arabia fell 0.56%. On Tuesday, Air Arabia CEO Adel Abdullah Ali told Ameinfo.com he was positive about 2012 in relation to passenger figures but added that there was some uncertainty about oil prices. Some 290m shares were traded, valued at Dhs340m.
Source: AME Info
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