Middle East ETF News Older than One Year
UAE markets gain on the first day of Ramadan
July 11, 2013--The UAE markets continued their upward trend on the first day of Ramadan amid lower volumes, with Dubai's General Index gaining for the fourth straight day
and the Abu Dhabi Securities Index advancing for three consecutive days.
Source: Zawya
Bank Al Jazira joins Saudi earnings spree
July 11, 2013--The Tadawul All-Share Index lost 0.20% on Thursday, closing at 7,690.38 points.
Earlier in the day, National Bank of Abu Dhabi said annual core inflation in KSA eased to 2.9% y-o-y from 3.2% y-o-y. However, annual inflation in the food category in the Kingdom is the fastest in the GCC region, but eased to +6.1% y-o-y - still more than double the pace in other GCC economies. Bank Al-Jazira rose 0.73% to hit SR27.70. Earlier in the day, the Jeddah-based Islamic bank said the net profit for the first six month rose 14.71% to hit SR312m. The reason for the surge was growth in the core banking activities and increase in operating income, said Al Jazira (not related to the Qatari news channel). The realatively volatile share gained around 20 percent in the last 12 months. Sabic, the petrochem giant, stood for the second day steadfast at SR95.
Source: AME Info
QNB convinces market with half-year earnings
July 11, 2013--The QE 20 Index surged 0.93% to hit 9,419.97 points on Thursday.
Qatar National Bank, better known as QNB, added 1.25%, closing at QR161.50. Earlier in the day, the biggest GCC lender by market capitalisation said or in the first half of 2013 its net profit was QR4.7bn ($1.3bn), up by 15.1% compared to the same period last year. These results include the financial results of NSGB in Egypt, in which the Group concluded the acquisition of a controlling stake amounting to 97.12% in March 2013. Total assets increased by 30.4% from June 2012 to reach QR431 billion ($118.5bn), the highest ever achieved by QNB
Source: AME Info
Oil, the grease for the Abu Dhabi bourse
July 11, 2013--The ADX General Index added 0.10% to reach 3,705.65 points on Thursday, the 5th gain in a row and the longest winning streak in a month.
Oil prices (DME Oman crude) shave a 3-month high by adding $0.44 to reach $104.11 per barrel. Nine percent of the UAE's oil and 8% of the world's known oil reserves are located beneath the seas and sands of Abu Dhabi. RAK Ceramic, the world'd biggest producer of ceramics, gained the most (up 9.89% at Dhs2.00). Aldar Properties as the most liquid share finished unchanged at Dhs2.35.
Source: AME Info
Union Properties hit 6-week high
July 11, 2013--The DFM General Index gained the 6th day straight on Thursday, closing at 2,391.63 points.
Shares of Union Properties jumped 2.91% to reach Dhs0.423. Dubai Islamic Bank was the most liquid shares, ending 0.60% higher at Dhs3.39. Logistic company Aramex lost the most (off 2.95% at Dhs2.63) after the IMF cut the global growth forecast slightly.
Source: AME Info
Batelco shares even, firm launches s 4G LTE Mobile Broadband
July 11, 2013--The Bahrain All-Share Index slipped 0.04% to 1,189.82 points on Thursday in dull trading.
Bahrain Telecom or Batelco closed even at BD0.36. Earlier in the day, Batelco said it was was following up on the hugely successful launch of its superfast 4G LTE Network by introducing 4G LTE Mobile Broadband for use with any WiFi device at home. "Batelco is first in Bahrain to present a 4G LTE Router for home use, which is now available for its customers as part of a great package deal featuring unlimited usage, priced at only BD18 ($47.75) per month inclusive of the 4G LTE router device."
Source: AME Info
Al Rajhi Bank net profit stagnates
July 10, 2013--In Riyadh, the Tadawul All-Share Index closed insignificantly lower at 7,706.01 points on Wednesday, the first day of this year's Ramadan.
Al Rajhi Bank closed likewise unchanged at SR76.50. The world's largest Islamic bank said earlier in the day it earned in the second quarter SR2.123bn, up 1.43% y-o-y, and up 3.46% q-o-q. The half-year net profit was surged 1.71% y-o-y to SR4.174bn. Sabic closed likewise flat, at SR95. Arab National Bank or ANB fell 0.94% to SR31.50. Earlier in the day, Capital Intelligence (CI), the international credit rating agency, said it has affirmed the ratings of ANB. The Financial Strength Rating (FSR) is affirmed at 'A+', supported by its very strong asset quality and the resultant reduced risk expense. For the same reasons, the Long-Term Foreign Currency Rating (FCR) is affirmed at 'A+' and the Short-Term Foreign Currency Rating at 'A1',
Source: AME Info
Abu Dhabi bourse hits highest since Oct. 2008
July 10, 2013--The ADX market index advanced the 4th session straight on Wednesday, closing at 3,702.18 points.
Rising oil prices helped to keep the momentum afloat. DME Oman crude added $0.70 to hit $103.67 per barrel, a near 3-month high. Abu Dhabi Ship Building Co. gained the most (up 5.59% at Dhs1.30). Market heavyweights Etisalat and Taqa lost 0.44% and 0.80%, respectively. Market breadth was neutral (10 shares advanced, 10 declined). Some 146m shares were traded, valued at Dhs542m.
Source: AME Info
Dubai market gains the fifth session straight
July 10, 2013--The DFM General Index ended up 1.02% at 2,367.77 points on Wednesday.
It is the gauge's longest gaining streak since end of May/start of June. Emaar and Dubai Islamic Bank closed both 1.80 higher at Dhs5.57 and Dhs3.37, respectively. The UAE's biggest bank Emirates NBD ended down 1.02% at Dhs4.85. Some 188m shares were traded, valued at Dhs223m.
Source: AME Info
Muscat Securities Market slips amid neutral market breadth
July 10, 2013--On the first day of Ramadan, the Omani MSM30 Index ended down 1.03% to 6,485.83 points.
Bank Muscat gained 0.52%, finishing at OR0.586. The Financial Corporation posted the biggest loss (off 5.26% at OR0.09.
Source: AME Info
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