Middle East ETF News Older than One Year
Dubai market without momentum
January 3, 2011--Early hopes of a January rally got a hit on Monday, when the DFM General Index struggled to defend the 1,660 support line, ending off 0.30% at 1,663.29. On Sunday the index surged 2.32%.
After hitting a 15-month high on Sunday, investors booked profits at Drake and Scull International, which headed 0.91% lower to reach Dhs1.09. Emaar Properties closed flat at Dhs3.58. Bank Emirates NBD was the main loser, declining 6.04% to end at Dhs2.80. Traded value declined 5% to Dhs167.63m as 120.6m shares changed hands, almost the same amount compared to Sunday.
Source: AME Info
Dubai Gold And Commodities Exchange Weekly View-January 2, 2011
January 2, 2010-- Economic Data Overview
The coming week brings a start to the New Year and trading is expected to return to normal after a couple of very quiet weeks. Next week is capped by the Friday employment data and trading sources suspect it will show recovery and set equities on an upward path for the year. Economists are looking for December US Payrolls to post about +140,000 and the unemployment rate is expected to fall back to 9.7%.
The Fed buys Treasuries on each of the business days of the week, including TIPS (Treasury Inflation Protected Securities) on Tuesday. The buying should average $25 billion.
Rising manufacturing data and a better labour market should be featured in the week's data. The ISM manufacturing index is due Monday and is expected to rise slightly to a reading of 56.8 in December, based on early forecasts.
Tuesday includes the minutes of the latest FOMC Meeting, while the non-manufacturing ISM index is due on Wednesday, along with the weekly Crude Oil Stocks data.
Thursday’s data includes the weekly Jobless Claims as well as the weekly EIA Natural Gas Stocks as market activity starts to pick up as traders return from their holidays.read more
Source: Dubai Gold And Commodities Exchange
Saudi money supply growth remains steady
December 30, 2010--According to data by the Saudi Arabian Monetary Agency (SAMA), money supply growth in the kingdom has remained steady at 3.7% on the year in November, compared with the previous month,
Saudi Gazette has reported. M3, the broadest measure of money supply, came in at SR1.061trn ($283.01bn) in November, up from SR1.023trn in the same month a year ago, and from SR1.041trn in October.
Source: AME Info
Dubai bourse ends the year positively
December 30, 2010--The Dubai market DFM added 0.54% to reach 1,630.52 points. Market bellwether Emaar Properties surged 2.60% to close at Dhs3.55. Trading volumes more than doubled to 115.6m shares worth Dhs183m. In 2010 the DFM lost 9.60%, making it the worst performing exchange in the GCC.
Property shares weighed on the index as the real estate market has not find its bottom in 2010. Nevertheless Credit Suisse- analyst Jacqueline Madu is optimistic for 2011: "The real estate market (in the UAE)is gradually stabilizing and should begin to gain traction in 2011-2012 thanks to improving domestic economic and financial conditions. Meanwhile, exports have rebounded, providing a much-needed lift to growth this year." Ms. Madu adds: "Dubai World struck a debt-restructuring deal with its creditors in September. The accord has helped to ease concerns over Dubai's debt crisis, boosting investor confidence. The eventual resolution of the Dubai World saga should lead to greater improvements in banking and financial conditions by the end of 2010 and into 2011."
Source: AME Info
Nasdaq Dubai: DP World gains, Depa declines
December 30, 2010--The FTSE NASDAQ Dubai UAE 20 Index closed at 1800.580, up 0.85%,from the previous close. Dubai Ports (DP) World added 0.80%, ending $0.63. Depa Limited, the Dubai-based interior designer declined 2.78% to finish at $0.70.
A report published by The National on Wednesday speculates on alleged discount demands made by Depa to sub-contractors when it designed the interior for the Ferrari World complex in Abu Dhabi. Depa declined to comment, according to the report. Damas shares ended flat at $0.13.
Source: AME Info
Abu Dhabi exchange gains 0.65%
December 30, 2010--Banks and property firms raised the ADX General Index on the last trading of 2010 by 0.65% to close at 2,719.87 points. Ras Al Khaimah Poultry and Feeding Co. was the main gaining shares,
closing 10% higher at Dhs1.87. Aldard Properties added 1.33% to reach Dhs2.27. Only two shares declined, while 23 advanced and 11 finished unchanged. In 2011 the ADX General Index declined 0.87%.
Source: AME Info
Kuwait market index fails to break even in 2010
December 30, 2010--The KSE Market or Price Index dipped 0.10%, finishing at 6,955.5 points. All sector indices lost value wiith, except the insurance segment.
With the small loss on the last trading day of 2010, the KSE failed to end the year with a small profit as year-t-date the Kuwait bourse weakened 0.71%.
Source: AME Info
Qatar market gains 24.75% in 2010
December 30, 2010--Like yesterday, the QE Index in Doha added 0.20%, closing at 8,681.65 points. With a surge of 24.75%, the Qatari bourse posted the highest annual profit in the GCC and among all Arab stock exchanges.
Investors hailed the decision by the FIFA to grant Qatar the World Cup in 2022 in particular. According to Credit Suisse, Qatar's economy will grow by 16.7%.
Source: AME Info
Bahrain on target to meet growth expectations for 2010
December 30, 2010--Bahrain's economy is on target to meet expectations of 4% year on year growth for the full year, according to the Bahrain Economic Quarterly, Q4 2010.
The quarterly reports, first published in December 2009, have been developed by the Bahrain Economic Development Board (EDB), to provide regular assessments and key information on the Bahrain economy, in the context of the regional and global outlook. GDP growth in Bahrain was 4.3% through the first nine months of 2010.
Source: AME Info
Kuwait refuses liquidity request of Islamic banks
December 29, 2010-- Kuwait's central bank has rejected a request by Islamic lenders to grant them exceptions from liquidity ratio requirements and allow for the withdrawal of excess liquidity,
Reuters has reported. This is the second time the central bank has rejected such a proposal, a move some banks said put them at a disadvantage to conventional banks.
Source: Online News
If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
