Middle East ETF News Older than One Year
Gulf mostly declines, Dubai up before expo decision
November 27, 2013--Most Gulf bourses declined yesterday in a wave of profit-taking triggered partly by oil's temporary weakness in the aftermath of the world powers' nuclear deal with Iran.
The main stock index in Saudi Arabia, the world's biggest oil exporter, shed 0.6% yesterday. Dubai, however, rose 0.6% as investors made last-minute bets on its bid to host the Expo 2020 world fair. The winning bid is to be announced after the close today.
Source: Zawya
Saudi Arabia's Dar Al Arkan raises $300 million through sukuk
November 26, 2013--Today, the Tadawul All Share Index closed unchanged at 8,337.78 points. Dar Al Arkan Real Estate Development Company gained one per cent, hitting SR10.05.
Earlier in the day, Dar Al Arkan announced the successful closing of the second Islamic bond (sukuk) tranche under its International Islamic Sukuk Programme, raising SR1.1 billion ($300 million). The order book for the second tranche was opened on Tuesday, Nov. 19 2013 and closed yesterday afternoon, November 20, 2013.
Source: AME Info
UAE indices rise moderately
November 26, 2013--UAE shares rose continued to trade sideways as Dubai's stock benchmark index rose moderately and Abu Dhabi's measure remained flat. Investors remained cautious a day before the Expo 2020 decision on Wednesday.
The Dubai Financial Market General Index rose 0.56 per cent to close at 2884.53. The total number of shares traded stood at 279.91 million that were worth Dh481.51 million. Of the 29 stocks traded, 16 advanced, 11 declined and two remained unchanged.
Source: Zawya
UAE shares decline as investors sit on sidelines
November 26, 2013--Majority of shares dropped on Monday amid declining volumes as investors continued to remain on the sidelines ahead of Wednesday's Expo 2020 decision, in which Dubai is a candidate city.
Trading volumes in Dubai stock exchange fell to 261.02 million shares from Sunday's 428.35 million and turnover was down 39.89 per cent to Dh406.73 million.
Source: Zawya
Dubai market falls further ahead of World Expo 2020 vote
November 25, 2013--The DFM General Index lost for the second day straight on Monday, November 25, closing 0.31 per cent lower at 2,868.56 points.
Kuwait-based logistics giant Agility gained the most, ending 11.70 per cent at Dhs10.05. Developer Mazaya posted the biggest drop, finishing 9.45 per cent lower at Dhs1.15. Arabtec Holding was the most liquid share, finishing 2.30 per cent lower at Dhs2.55. Dubai Islamic Bank gained 0.23 per cent, hitting Dhs4.38.
Source: AME Info
Iran nuclear deal no help for Dubai market
November 25, 2013--The DFM General Index closed on Sunday, November 24, 0.48 per cent lower at 2,877.37 points.
The last-minute compromise reached between the five permanent UN Security Council members, plus German and the Islamic Republic of Iran on Tehran's nuclear energy programme in Geneva, failed to raise the sentiment. Emaar slipped by 1.60 per cent to Dhs6.16. Its rival Union Properties (UPP) fell by 0.11 per cent to Dhs0.945.
Source: AME Info
Abu Dhabi Islamic Bank gains as CEO talks expansion
November 25, 2013--Like the Dubai bourse DFM, the Abu Dhabi market gauge ADXGI fell slightly, ending down for the third consecutive day at 3,815.16 (off by 0.15 per cent) points on Monday, November 25.
Abu Dhabi Islamic Bank (ADIB) declined by 1.06 per cent at Dhs4.68. Earlier in the day, Tirad Mahmoud, the CEO of the biggest Sharia-compliant bank in Abu Dhabi said that he wants to expand the company to Algeria and Saudi Arabia after successfully obtaining a banking licence in Iraq.
Source: AME Info
Transport sector stays in limelight
November 22, 2013--The Saudi stock market recorded nominal gains on Thursday, as the Tadawul All-Share Index (TASI) closed higher to 8,337.78, adding less than half point for the entire day.
After falling over 22 points earlier the index started a sideways walk and finally crossed the break-even line. Again market cap indices closed in mixed territories. Six out of Tadawul's fifteen sectors extended gains, reflecting an accumulation of 198 pointsview more
Source: Zawya
Oversold Bahrain bourse bounces back
November 21, 2013--The Bahrain All Share Index closed 0.71 per cent higher at 1,201.70 points on Thursday, November 21.
The oversold market erased losses from the entire week. National Bank of Bahrain surged by 3.20 per cent, hitting BD0.645. Khaleeji Commercial Bank dived by 4.10 per cent to BD0.047. Al Salam Bank ended one per cent lower at BD0.10. Ithmaar Bank, Batelco, Aluminium Bahrain and Bahrain Bank of Kuwait closed unchanged.
Source; AME Info
UAE markets end positively for the week
November 21, 2013--The Dubai and Abu Dhabi stock indices ended this week in the positive, gaining 2.33 per cent and 0.99 per cent respectively. A week ago, both had retreated.
The DFM General Index rose marginally to end 0.10 per cent higher to 2891.16. After three straight days of being the most active stock, when it climbed 4.60 per cent, Emaar Properties witnessed some profit booking yesterday. It remained the most active stock in terms of value traded, which was worth Dh132.09 million, but lost 0.32 per cent to end at 6.26.
Source: Zawya
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