Tadawul market adds 3.25% in January -continued

January 31, 2012--The Saudi Arabian Tadauwul All Share Index advanced one per cent Tuesday, closing at 6,626.04 points. Market bellwether Sabic added likewise one per cent.
During the first month of the year, the Riyadh-based gauge gained 3.25%, the second highest GCC performance behind the Dubai Financial Market (up six per cent). Rising oil prices supported the sentiment. The barrel oil rose over 2.3% to reach $101 on concerns over an escalation of the tensions between the West and Iran.

Source: AME Info


Middle East ETP News
Opec agrees to cut production
November 30, 2016--Saudi Arabia will reduce oil output by 486,000 barrels a-day.
read more
Saudi close to technical breakout; UAE firms in speculative trade
November 29, 2016--Saudi index climbed 0.7 per cent in first 30 minutes to 6,950 points
Banking and petrochemical sectors moved little
read more
Islamic finance body approves sharia standard for gold-based products
November 28, 2016--Traditionally, gold has been treated as a currency in Islamic finance
New standard addresses collateral, set off, screening and and gold exchange in transactions
read more
Mirae Assets Global Investments launches maiden Islamic fund
November 23, 2016-Hong Kong-based launched its first sharia-compliant Asian equities fund
Islamic funds industry is now attracting regional firms seeking to penetrate markets from Saudi Arabia to Indonesia.
read more
Abu Dhabi recovers, Saudi petrochemicals buoyed by oil bounce
November 21, 2016-In Abu Dhabi market, banking stocks sold off in previous session recovered
Banks see drop after denying rumours about mergers.
read more
Egyptian pound weakens as dollar demand surges, interest rates steady
November 20, 2016--Egyptian pound weakened as banks scrambled to meet surge in demand for dollars
Pound had also weakened on the parallel market where prices were roughly in line with banks
read more
IEA: No OPEC cut means another oil surplus in 2017
November 10, 2016--IEA raises concerns about the increased output by OPEC members and other oil-producing countries.
read more
Dubai and Qatar bounce in line with global shares, Saudi robust
November 10, 2016--World markets initially fell after Trump's win
Dubai's stock market index rose 1.1 per cent early
read more
State payment plan lifts Saudi index
November 9, 2016--Government's plan to pay debts to the private sector boosted the market, lifting Saudi index
read more
UAE, Qatar markets update: Aldar up on earnings beat
November 8, 2016--Net profit attributable to Aldar's owners came in at AED747.8m. Emaar Properties, added 0.9 percent, helping lift Dubai's main index up 0.4 per cent.
read more
Saudi shares see fourth day of uninterrupted gains
November 8, 2016--Mainly due to positive news from the government's payment plan to the private sector Contractor Al Khodari was the top gainer after 15 minutes of trade
read more
With dollars scarce, Egypt's newly-floated pound weakens
November 7, 2016--Egypt abandoned currency peg to dollar last week
Shortage of dollars continues to pressure pound
Government urges Egyptians to shun black market
read more
Egypt's private sector sank in October, pound float may spur growth
November 6, 2016--*PMI dropped to a 39-month low of 42.0 in October, from 46.3 in September
Job creation in the private sector fell the seventeenth consecutive month
read more