Middle East ETF News Older than One Year
Tadawul market dives 4.12 percent
August 27, 2013--The Tadawul All-Share Index closed at a 4-week low at 7,722.7 points on Tuesday amid worries a possible U. S. bombardment on Syrians could escalate into a regional all-out war.
Only 2 shares gained, while 155 declined in value. Four shares closed at a limit-down. Sabic dived 2.33% to finish the most bearish day in the GCC since the Dubai debt crisis in 2009 at SR94.25.
Source: AME Info
Bahrain Bourse hits one-month low on Syria escalation fears
August 27, 2013--The Bahrain All-Share Index closed on Tuesday 1.23% lower at 1,186.28 points as two shares gained, while eight lost value.
Bahrain Duty Free gained the most, trading 2.05% higher at the closing bell. Bahrain's oldest Islamic bank Al Baraka advanced 1.39%. Its rival Ithmaar Bank plummeted 9.62%. Islamic investment bank Gulf Finance House shed 7.41%. On Monday, rating agency Capital Intelligence (CI) concluded a rating exercise on the Bank and has accorded GFH a long‐term and short term corporate rating of BB‐ and B respectively with a 'positive outlook'.
Source: AME Info
Saudi shares trim summer advances
August 26, 2013--Riyadh-listed stocks lost across the board on Monday, sending the Tadawul All-Share Index 0.93% lower to 8,054.65 points.
During the trading session, data from the U. S. showing that durable goods orders in the world's largest economy retreated more than expected in July, weighing on the sentiment. On the global market outlook, BNY Mellon said earlier in the day that "Paper losses could become a drag on confidence, and begin undermining consumer spending this fall, just as the U. S. Federal Reserve begins to tighten monetary policy." In Riyadh, market bellwether Sabic dipped 1.28% to SR96.50. ACE Cooperative Insurance Company gained against the sluggish trend, closing 0.77% higher at SR65.25. ACE Coop said in a filing to the exchange, the Saudi Arabian Monetary Agency (SAMA) has approved 25 ACE insurance products for six months, starting from Sep. 12 2013 on. Market breadth remained bearish as 22 shares advanced in value, while 126 declined.
Source: AME Info
Abu Dhabi market fails to secure the 4,000
August 26, 2013--The ADX General Index fell 0.66% to 3,933.20 points whilst shares mostly performed mixed with no preference for any particular sector visible.
For real estate firms, Monday marked a black day. Developers Aldar and RAK Properties lost 1.75% and 4.48%, respectively. Eshraq Properties lost 2.13%. Sharjah-based Dana Gas and leasing specialist Waha Capital closed unchanged. Financial House led the group of 7 gainers, closing 5.11% higher. In contrast to Dubai, trading turnover remained in the lower range, with 150m shares worth Dhs245m changing hands.
Source: AME Info
Lackluster Bahrain Bourse ends Monday trading flat
August 26, 2013--The Manama-based Bahrain All-Share Index closed insignificantly higher at 1,201.10 points.
Khaleeji Commercial Bank posted the largest increase, ending up 4%. Inovest dived 7.58%. The Bank of Bahrain and Kuwait, better known as BBK, close even. Earlier in the day, BBK announced that it has renewed and expanded its partnership with American Express Middle East, which covers American Express bill settlements through BBK's Internet Retail Banking channel and BBK Branch network.
Source: AME Info
Politics delay link between Egyptian, Turkish bourses
August 25, 2013--Sherif Sami, the chairman of Egypt's Financial Supervisory Authority (FSA) has said political developments will delay the implementation of a linking of the Egyptian Stock market and Borsa Istanbul, Daily News Egypt has reported.
The Egyptian Exchange EGX and Borsa Istanbul signed a memorandum of understanding on June 26, 2012 to develop a framework of connectivity between the two markets. [AMEInfo.com]
Source: AME Info
Qatar bourse rises by 0.44% to 10,109.50
August 23, 2013--Banks lifted Qatari bourse to a near five year high as the benchmark index rose 0.44% to advance to 10,109.50 yesterday.
Qatar International Islamic Bank (QIIB) rose 4.56% and Qatar Islamic Bank (QIB) was up 2.36%.
Source: AME Info
Bahraini bank shares keep Manama market afloat
August 22, 2013--The Bahrain All-Share Index closed 0.26% higher at 1,202.99 points on Thursday amid muted trading.
Only three shares gained, while no listed security lost value. Islami Bank Al Salam Bahrain (up), Bank of Bahrain and Kuwait and Ahli United Bank gained 2%, 0.98% and 0.72%, respectively.
Source: AME Info
EGX: Connectivity project with Borsa Istanbul delayed on political developments
August 22, 2013--The Egyptian Exchange (EGX) and Borsa Istanbul signed a memorandum of understanding on June 26, 2012 as to develop a framework of connectivity between the two markets. Both exchanges have duly embarked on the connectivity project and recently finalized its technical components.
Market readiness, however, is a pending issue since brokers from each side need to commit resources through bilateral agreements. A site visit in due respect was organized in Cairo to ensure interaction among the brokers
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Source: Mubasher.info
Resources boost JSE
Resources were leading the charge, with Kumba Iron Ore (+2.73% at R450.97), African Rainbow Minerals (+2.69% at R191) and Amplats (+2.53% at R416.06) among the top gainers.
Source: AME Info
August 22, 2013--The JSE was trading against the downward emerging market trend, with the Top 40 gaining 0.43% at 38 550 just after lunch on Thursday.
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