Middle East ETF News Older than One Year
National Bank of Abu Dhabi bucks fickle market sentiment
November 10, 2011--The ADX General Index dipped 0.22% to 2,477.84 points. The sheikhdom's largest lender National Bank of Abu Dhabi (NBAD) posted the largest advance, closing 0.95% higher at Dhs0.95.
Pharmaceutical producer Julphar followed with a plus of 0.93%. Losses occured mostly in the real estate sector, with Aldar Properties declining 0.95% to Dhs1.04.
Source: AME Info
Dubai market DFM hit by Italy woes
November 10, 2011--Despite a rebound at Asian in European markets, the DFM General Index (off 0.53% at 1,382.72) suffered from continuing uncertainty and low trading volumes in the wake of Eid holidays.
Emaar Properties lost 1.48%, closing at Dhs2.92. Investment bank Shuaa Capital bucked the downtrend and surged 2.78% to reach Dhs0.74. Some 35.6m shares were traded, valued at Dhs46.6m.
Source: AME Info
Ominvest reveals plans to invest in energy sector
November 10, 2011--Oman International Development and Investment Co (Ominvest) has unveiled plans to invest a total of $30m in the energy sector to diversify its investments,
Muscat Daily has reported. The move is aimed at improving returns on investments since the earnings of large investment houses have been affected due to negative returns on their capital market investments this year, the firm said.
Source: AME Info
New Trading Mechanism Starting on Nilex next Sunday
November 10, 2011--Nilex market will start operating, effective Sunday November 13th, on a continuous trading basis, similar to the main market. The trading session shall commence at 10.30 am and will end at 11.30 am. Price limits will be allowed to fluctuate 5% up and down during the trading session.
The closing price, during and at the end of the session, will be calculated according to the volume weighted average price, provided a minimum value trading of EGP 20,000 per day, or its equivalent in other foreign currency, is concluded
Source: EGID
Aldar Properties stabilises above one Dirham per share
November 09, 2011--The Abu Dhabi bourse ADX added 0.04% to finish at 2,483.29 points. Leasing specialist Waha Capital gained the most, closing 5.45% higher at Dhs0.58. Aldar Properties was the most liquid shares and added 1.94% to reach Dhs1.05.
At the end of last week, Aldar reported a Dhs144m net profit for the third quarter. Aldar's nine-month profit reached 460.4m, compared to a net loss of 1.52bn during the same period in 2010.
Source: AME Info
Dubai stocks edge slightly higher
November 09, 2011--The Dubai Financial Market (DFM) added 0.42% Wednesday, closing at 1,390.07 points amid improved sentiment during the Eid holidays. Dubai's tourism agency DTCM announced an 11% increase in hotel occupancy to 6.64 million guests during the first nine months in 2011. Also, according to consumer research firm Nielsen, the UAE is among the top 10 countries in relation to consumer condfidence.
Only a few shares were traded on the first trading day after Eid holidays. Emaar advanced 2.27% to reach Dhs2.70. Around 33.2m shares were traded, valued at Dhs43.5m.
Source: AME Info
Bahrain Bourse regains some ground
November 09, 2011--The Bahrain All Share Index closed 0.36% higher at 1,159.25 points. Esterad Investment Company soared 7.27% to close at BD0.118.
Bahrain Telecommunications, known as Batelco, finished even at BD0.394. Shares of Aluminium Bahrain gained 2.88%, reaching BD0.535. Year-to-date, the Bahrain Bourse has lost 19 per cent, however, the Manama-based exchange rebounded has been stabilising since mid-October.
Source: AME Info
Bahrain Bourse regains some ground
November 09, 2011--The Bahrain All Share Index closed 0.36% higher at 1,159.25 points. Esterad Investment Company soared 7.27% to close at BD0.118. Bahrain Telecommunications, known as Batelco, finished even at BD0.394.
Shares of Aluminium Bahrain gained 2.88%, reaching BD0.535. Year-to-date, the Bahrain Bourse has lost 19 per cent, however, the Manama-based exchange rebounded has been stabilising since mid-October.
Source: AME Info
Stephen Gaterell Named New CEO of DGCX
November 9, 2011--The Dubai Gold and Commodities Exchange (DGCX) today announced the appointment of Stephen Gaterell as its new Chief Executive Officer (CEO).
Gaterell has over 30 years of experience in the banking, financial services and derivatives trading sectors. He previously occupied senior positions in Merrill Lynch, UBS and Goldman Sachs, where he was responsible for implementing new business plans and building the profile of the banks. Gaterell has also served as board member of EURONEXT /LIFFE.
Source: DGCX
Saudi minister claims Euro effects will be limited
November 08, 2011--Saudi Arabia's finance minister Ibrahim Alassaf has said the impact of Europe's economic woes on the kingdom will be "very limited" because of the "appropriate means" taken to guard against any financial shockwave, Reuters has reported.
"If there is a big decline in the economic conditions of Europe... it will affect all nations including the kingdom to some degree, but I stress that the impact would be very limited because we have the appropriate means to limit the negative effect on the kingdom's economy," Alassaf said.
Source: AME Info
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