Middle East ETF News Older than One Year
Saudi petrochemicals push Tadawul market higher
December 1, 2010--The Riyadh-located Tadawul bourse gained 0.42% Wednesday to close at 6,344.88, ending the last trading week of November with a plus of 0.85%. Petrochemical firms Sabic (up 1.24% at SR101.75), Saudi Kayan Petrochemical Company (0.28% higher at SR18.15) and Yansab National Petrochemical Company (gaining 2.21% at SR46.20) lifted
the market in particular. Banks and financials ended mostly lower. Samba Financial Group shares (down 2.16% at SR56.50) might test the next support level at SR55.
Source: AME Info
ADX announces the launch of 7 surveys to measure the level of satisfaction and investment literacy
December 1, 2010--Abu Dhabi Securities Exchange (ADX) today announced the launch of 7 surveys. Five of them are to measure the satisfaction level of stakeholders which include investors, listed companies, brokerage firms, custodians and registrars.
The other two surveys are to measure the level of investors and universities students' investment literacy as a part of the Abu Dhabi government's vision and drive for excellence.
Rashed Al Baloushi, ADX Deputy Chief Executive and Director of Operation said, "ADX genuine concern for concluding these surveys rises from the directives of the leadership and the objectives of Abu Dhabi's Economic Vision 2030, in addition to the priorities set by the exchange's strategic plans, to enhance the performance and to support ADX's standings regionally and internationally."
Source: AME Info
Abu Dhabi bourse ends flat in lacklustre trading
November 30, 2010--The ADX General Index closed at 2,729.87 points (off 0.05%) as three sector indices and seven shares ended flat.
Gains at Aldar Properties (up 1.38% at Dhs2.19) and Abu Dhabi Commercial Bank (1.35% higher atDhs2.25) failed to lift the market sentiment in the UAE capital.
Source: AME Info
Banks drag Qatar Exchange down slightly
November 30, 2010--The QE index in Doha declined 0.20% on Tuesday, closing at 12,605.44 points. Al Khaliji Commercial Bank shares dipped 0.66 to finish at QR15.10 as most financial stocks weakened.
The QE Index posted during the first 11 months 2010 a gain of 17% straight. Willem Buiter, Chief Economist at Citi says in today's published Global Economic Outlook and Strategy that he expects Qatar to grow 15% n 2011 and 10% in 2012. These would be the highest growth rates in the Middlea East and Africa.
Source: AME Info
Kuwaiti stocks lose across the board
November 30, 2010--The Kuwait bourse KSE weakened 0.35% on Tuesday, ending at 6,891 straight. All industry segments declined, with the the exception of the real estate sector (up 0.07%). Heavy Engineering and Ship Building Co. posted the largest decline, closing at KD0.340 (down 6.84%). ined 0.20% on Tuesday, closing at 12,605.44 points.
Al Khaliji Commercial Bank shares dipped 0.66 to finish at QR15.10 as most financial stocks weakened. The QE Index posted during the first 11 months 2010 a gain of 17% straight. Willem Buiter, Chief Economist at Citi, writes in today's published Global Economic Outlook and Strategy that his bank expects Kuwait to grow 3.1% in 2010, 4.5% in 2011 and 6.2% in 2012.
Source: AME Info
Banks drag Abu Dhabi bourse down
November 29, 2010--At the Abu Dhabi market ADX, shares of financial institutions Union National Bank (UNB, off 4.4) at Dhs3.18), Abu Dhabi Commercial Bank (ADCB, down 3.06% at Dhs2.20) and Abu Dhabi Islamic Bank (ADIB, 2.68% lower at Dhs2.90) ended among the top decliners Monday,
dragging the ADX index down by 0.67% to close at 2,731.22 points. Energy heavyweight Dana Gas bucked the trend by reaching Dhs0.73 (up 1.39%)
Source: AME Info
DP World shares rebound to reach $0.60
November 29, 2010--At the Nasdaq Dubai, FTSE NASDAQ Dubai UAE 20 Index closed at 1778.190 on Monday, up 0.93%, from the previous close. Port operator DP World gained 0.84% to reach $0.60 on modest trading volumes.
Damas, the Dubai-based retail trader of jewelry and accessories, closed unchanged at $0.15.
Source: AME Info
Kuwait market gains 0.66%
November 29, 2010--The KSE market index ended 0.66% to close at 6,914.4 points. Banks and the industrial sector led the rebound. Yiaco Medical Co. topped the charts, closing 9.62% higher at KD0.285.
"Healthcare and education are key growth sectors in the GCC, as the region has the youngest world's youngest work force", said Sherif El-Diwany on Monday, the Managing Director of Middle East at the World Economic Forum (WEF) at the opening of the WEF Summit on the Global Agenda, which runs in Dubai until December 1st.
Source: AME Info
Qatar bourse is back on its bullish track
November 29, 2010--The QE Index in Doha gained for the second consecutive day, ending 0.59% higher at 8,158.52 points. On a year-to-date basis, the QE Index advanced 17.23%, the highest gain among the GCC markets.
Gulf Warehousing Company jumped 1.81% to reach QR22.50, as industrial stocks led the market on Monday.
Source: AME Info
Tadawul bourse adds 0.36%
November 29, 2010--The Saudi Stock Exchange, also known as Tadawul, advanced 22.46 points or 0.46% Monday, closing at 6,332.43. Samba Financial Group gained 1.73%, reaching SR58.75.
Most petrochemical shares also advanced slightly, as market bellwether Sabic climbed back over SR100 (up 1.01% at SR100.50).
Source: AME Info
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