Middle East ETF News Older than One Year
Tadawul bourse declines 0.17%
May 4, 2011--The Saudi Stock Exchange closed 0.17% lower at 6,682.61 points.
Whilst the majority (70) of the 145 traded stocks gained, market bellwether Sabic (off 0.23% at SR110.75) weighed on the index. According to Kuwait's Global Investment House Saudi listed companies had positive 1Q2011 financial results, posting their best quarterly results since the third quarter of FY2008. "Aggregate net profit of Saudi corporate stood at SAR21.76bn, up by 23.7 percent and 13.5 percent, YoY and QoQ respectively," Global's statement says.
Source: AME Info
Tadawul bourse bucks fickle regional trend
May 2, 2011--The Saudi Stock Exchange rose on Sunday by 0.53%, closing at 6,719.53 points.
Market heavyweight Sabic added 0.90%, finishing at SR112.00. Al-Ahli Takaful Co. plummeted 3.15% to SR76.75. Ninety-six shares gained, 29 lost and 20 remained flat.
Source: AME Info
Dubai market stabilises amid thin trading
May 3, 2011--The DFM General Index added 0.12% to reach 1,629.73 points.
Emaar Properties was the most liquid share, gaining 0.62% at Dhs3.26. Real estate maintenance specialist Drake and Scull International closed flat at Dhs1.04. Earlier in the day, DSI reported that has been awarded a Dhs180m contract for a government project in Abu Dhabi. "The latest project award boosts DSI's project wins to AED 2.8 billion as of May 2011, an increase of approximately 200 % compared to the same period in 2010", DSI said in a statement. DFM shares lost 0.74% at Dhs1.34. Some 72.81m shares valued at 89.32m changed hands. Six stocks gained, 14 lost and seven closed flat.
Source: AME Info
Dana Gas shares close flat despite first 2011 gas discovery in Egypt
May 3, 2011--The ADX General Index ended 0.10% lower at 2,689.29 points.
Ras al Khaima-based Union Cement posted the largest gain (up 7.50% at Dhs1.29). Dana Gas from Sharjah closed unchanged at Dhs0.67. Earlier in the day, Dana Gas announced has announced its latest gas discovery in the Nile Delta, Egypt. "The 'South Abu El Naga-2' well, drilled as an appraisal of the previously announced South Abu El Naga Field in the West El Manzala Concession encountered 16.6 meters of net pay in the Abu Madi formation, thus extending the field", Dana Gas says in a statement to the ADX. Aldar shares added 1.93% to reach Dhs1.62. As in Dubai, trading turnover remained weak. Ten shares gained, 13 lost and eight ended flat in Abu Dhabi.
Source: AME Info
Kuwait bourse weakens 0.22%
May 3, 2011--The KSE Market Index closed at 6,502.3 points.
Shares of Global Investment House, which advanced significantly last week, dived 7.27% at KD0.051. Yiaco Medical Co. surged 6.57% to reach KD0.405. The share almost doubled during the last 12 months.
Source: AME Info
Qatar National Bank shares rebound
May 3, 2011--The QE Index closed 0.05% lower at 8,509.87 points.
The country's largest financial institution Qatar National Bank recovered some territory by surging 1.74% to close at QR140.40. Nakilat shares dropped to a near-two-years lowe, off 1.18% at QR18.41
Source: AME Info
Tadawul bourse declines 0.38%
May 3, 2011--The Saudi Stock Exchange closes at 6,694.14 points. Shares of Saudi Chemical Company closed unchanged at SR48.50.
Earlier in the day, Saudi Chemical Company announced that its subsidiary SITCO Pharma has signed a contract with Mawarid Trading Limited to pay back SR230m which represents the cost of the deal where SITCO Pharma acquired 50% of the shares of Al Dawaa Medical Services Limited, which was not approved by the Saudi Chemical Company General Assembly in the second meeting. Market bellwether Sabic dipped 0.89%, finishing at SR111.00. Saudi Arabia Refineries Co. surged 9.97% to reach SR40.80.
Source: AME Info
Osama Bin Laden death fuels US dollar, stock rebound
May 2, 2011--Following President Barack Obama's announcement of Osama Bin Laden's death in a US security operation the US dollar rebounded
and global stock markets saw gains, with the Japanese Nikkei 225 climbing above 10,000 level and Asian markets that are closed today expected to react tomorrow. The prices of oil, gold and silver dropped.
Source: AME Info
Dubai market falls insignificantly
May 2, 2011--The DFM General Index ended 0.04% lower at 1,627.86 points. Dubai Investments Co., known as DIC, declined 2.73% at Dhs0.854.
Earlier in the day, DIC announced a first quarter net profit of Dhs100.5m, down from Dhs289.2m compared to the same period in 2010. Earnings per share dropped to Dhs0.03 from Dhs0.08. Emaar was the most liquid share (down 0.31% at Dhs3.24). Some 94. 73m shares valued at Dhs113.82m changed hands.
Source: AME Info
Energy, real estate shares keep Abu Dhabi market up
May 2, 2011--The ADX General Index ended 0.04% higher on Monday at 2,692.02 points.
Gulf Cement Co. was the main gainer, closing 8.89% higher at Dhs1.47. Aldar Properties, the most liquid share, added 1.97% to reach Dhs1.54. Ten stocks edged higher, 11 declined and nine ended flat.
Source: AME Info
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