Middle East ETF News Older than One Year
Egypt to implement new rules for companies on stock exchange on Feb 1
January 22, 2014--Egypt's financial regulator will implement new regulations for companies listed on the stock exchange on Feb. 1 to help boost trading on the bourse and attract more investment, its chairman said on Wednesday.
A listed company will no longer need permission from the Egyptian Financial Supervisory Authority to split shares or have to call a general assembly prior to a capital increase as long as it complies with pre-set rules, EFSA head Sherif Samy told Reuters by phone.
Source: Reuters
QE breaks 11,300 resistance level on sustained buying momentum
January 22, 2014--Sustained buying momentum brought about by foreign institutions drove the Qatar Exchange into positive terrain for the third consecutive day and its key index broke the 11,300 resistance level with ease.
Buying interests-notably in Ooredoo-led the 20-stock Qatar Index (based on price data) surge 1.42% to 11,338.41 points. However, local retail investors continued to be net sellers despite the closure of the QR3.23bn initial public offer of Mesaieed Petrochemical Holding Company, a Qatar Petroleum subsidiary.
Source: Zawya
Abu Dhabi index snaps six-day winning streak
January 22, 2014--UAE indices traded in opposite directions on Wednesday with Dubai making a comeback.
The Insurance sector lifted the DFM index up by 0.60 points to 3687.32 points, but both volume and value remained lower.
Among the gainers, GGICO rose for the third day by 14.84 per cent to Dh1.47, followed by Salama by 14.42 per cent to Dh1.19 and Aman by 14.29 per cent to Dh1.52.
Source: Zawya
Dubai index runs out of steam after 8-day rally
January 22, 2014--Dubai index ran out of breath on Tuesday after advancing for the past eight days.
The DFM index ended 0.12 per cent down at 3,665.42 points.
Among the gainers, GGICO rose for the second day by 14.29 per cent to Dh1.28, followed by CBD which went up 8.44 per cent to Dh4.88 and Salama by 7 per cent to Dh1.04.
Source: Zawya
Retail sector in KSA posts 1.91% gain
January 21, 2014--Saudi Arabia's benchmark Tadawul All-Share Index (TASI) finished to the downside Monday, slipping 0.14 percent further to 8,727.78.
Wavering in the North-South within a narrow range of 28.9 points it dropped roughly 12 points for the entire session.
Source: Zawya
Dubai index surpasses five-year high
January 20, 2014--Real estate, financial and investment shares lifted the Dubai index by 1.45 per cent to close at 3,669.83 points on Monday, its highest level since October 2008.
A buying spree was evident as about 1.91 billion shares worth Dh2.43 billion were traded. The index advanced for an eighth day.
Source: Zawya
Abu Dhabi index surpasses five-year high
January 19, 2014--UAE indices started the week on a positive note on Sunday with Abu Dhabi's benchmark index closing at its highest close since August 2008.
Real estate shares in Dubai did not get a boost amid a 53 per cent increase in the total value of real estate transactions done last year as per the data by Dubai Land Department.
Source: Zawya
Telecom sector surges over 2%
January 16, 2014--Saudi Arabia's benchmark Tadawul All-Share Index (TASI) finished to the upside at 8,745.28 points Wednesday, adding 48.89 points or 0.56 percent for the entire session.
While curving in the upward territory throughout the day it rose to a maximum gain of 61 points.
large cap with 0.93 percent positive change remained prominent among market cap indices. Most of large caps showed modest gains, with Etihad Etisalat Co. (Mobily) increasing by 2.9 percent, Samba Financial Group 2.5 percent and the bellwether SABIC (Saudi Basic Industries Corp.) 1.7 percent. SABIC also topped the value chart, pumping more liquidity (SR 656.4 million) into the market.
Source: Zawya
Saudi Arabia Equity Market Outlook (Jan-14)
January 15, 2014--Saudi Arabian equity market posted a solid gain in 2013, as external concerns eased and earnings growth remained strong.
With the unabated government spending boosting the domestic economy, and global economy picking up, we expect 2014 to be another positive year for the Kingdom’s equity market. Domestic oriented sectors like retail, food, banking are expected to carry forward their strong performances in the new year, whereas, the improving global economy is expected to benefit the petrochemical sector. Lower risk perception due to easing regional political issues and strong domestic economy can also lead to an expansion in broader market valuation multiples, which are now at a discount to global peers. We believe there are still good investment opportunities available in the market, despite the strong run up in stock prices.
Source: Zawya
UAE markets move in opposite directions
January 14, 2014--UAE stocks markets moved in opposite directions on Tuesday as Dubai continued to move higher led by construction and financial shares and Abu Dhabi witnessed sell-offs in consumer staples and services sectors.
Arabtec, the Middle East's leading engineering and construction company, which won a Dh2.59 billion contract for a mixed use development in Abu Dhabi's Al Reem Island, was among the top five active stocks in terms of turnover, advancing 5.46 per cent to Dh3.09.
Source: Zawya
If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
