Middle East ETF News Older than One Year
Kuwaiti banks weigh on market index
September 6, 2012--The KSE Market Index slipped 0.04% to 5,907.57 points.
The lenders Kuwait National Bank, Commercial Bank of Kuwait and Al-Ahli Bank of Kuwait ended slightly in the red. Islamic financial institution Burgan Bank jumped over 5%. Over the week, the market measure added 0.76%.
Source: AME Info
Abu Dhabi bourse ends first September week flat
September 6, 2012--The ADX gauge rose Thursday back to the level from end of August, closing a quarter percentage point higher at 2,562.67.
The rebound was fuelled by the banks, developers and industry shares. Merger candidates Sorouh and Aldar gained 3.70% and 1.70%, respectively. National Marine Dredging Co. posted the biggest decline (down 10% at Dhs9.45). Some 67m shares were traded, valued at Dhs95m.
Source: AME Info
EFG Hermes sees Dubai market in accumulation phase
September 6, 2012--The Dubai Financial Market General Index or DFMGI added 0.35% to reach 1,555.58 points Thursday.
Investment bank EFG Hermes said in its daily short-term update "The DFMGI is still in accumulation; while a close above 1555 should commence a short-term uptrend." Emaar as the most liquid shares regained further ground, closing 1.21% to hit Dhs3.34. Gulf General Investment Co. or GGICO lost the most (off six percent at Dhs0.325). Turnover improved slightly as 93m shares were traded, valued at Dhs79m.
Source: AME Info
Bahrain Tourism Co. remains on the bullish track
September 5, 2012--The Bahrain All-Share Index ended Wednesday trading 0.20% higher at 1,072.48 points.
Bahrain Toursim Co. jumped 3.33% to reach BD0.310. Since the end of June, the share soared over 20% due to an increased political stabilisation in the kingdom after it was hit by unrest in 2011 in the wake of the Arab Spring.
Source: AME Info
Qatar bourse falls on lack of catalysts
September 5, 2012--A lacklustre QE 20 Index fell 0.23% Wednesday to close at 8,450.14 points.
Al Khaliji Commercial Bank added 0.24%, while Qatar National Bank edged up by 0.10%. Most of the other listed lenders retreated. Al Ahli Bank lost the most (off three percent).
Source: AME Info
Dana Gas helps Abu Dhabi bourse to stay afloat
September 5, 2012--The ADX General Index closed 0.15% higher at 2,556.24 Wednesday.
Sharjah-based Dana Gas was the most liquid share by volume, gaining 2.63% to reach Dhs0.39. Market bellwether Etisalat closed even. Seven shares gained, nine declined and seven ended flat.
Source: AME Info
DGCX Year-To-Date Volumes Up 153%
August volumes up 71% year-on-year, reaching 938,837 contracts
Trading in Currency futures up 179% year-to-date
September 5, 2012--The Dubai Gold and Commodities Exchange traded 938,837 contracts in August, valued at USD 34.81 billion, registering an increase of 71% compared to the same month last year.
DGCX Year-to-date (YTD) volumes increased by 153% from last year, aggregating to 5,752,486 contracts. This growth was primarily driven by currency futures, trading 5,279,123 contracts - a 179% increase on last year.
DGCX Indian Rupee futures, one of the most actively traded contracts on the exchange, recorded a year-on-year growth of 123% trading 873,740 contracts. Gold futures, the Exchange's flagship product, grew 68% year on year trading 49,219 contracts in August - largely driven by strong retail participation on the back of continued high volatility and following the recent enhancements made to the DGCX Gold Futures contract.
Source: Dubai Gold and Commodities Exchange (DGCX)
Sabic falls to one-month low
September 4, 2012--The Tadawul All-Share Index extended its four-day losing streak, closing Tuesday's trading session off 0.40% at 7,050.34.
Petrochem giant Sabic dived 1.66% to close at SR89. Market breadth turned deeper into the red as 44 out of 154 traded shares advanced, while 92 declined. Gains in the insurance sector failed to prevent the GCC's largest bourse by market capitalisation to halt the decline.
Source: AME Info
Muscat Securities Market rises the third day straight
September 4, 2012--The Omani equity gauge MSM 30 added 0.10% to reach 5,533.64 points Tuesday.
The advance was mostly driven by shares of the industrial and construction sector. Shares of Bank Muscat weere the most liquid and slipped 0.20% to OR0.558. The lender's associate group Mangal Keshav Holdings, at which it holds 43%, said Monday it merged with Mangal Keshav Securities, one one of its subsidiaries. Neither Bank Muscat's shareholder structure nor its investments are in any way affected by the the move.
Source: AME Info
Al Ahli Bank soars ahead of secondary
September 4, 2012--The QE 20 Index added 0.10% to reach 8,469.93 points Tuesday.
Shares of Al Ahli Bank gained 4.5% to hit QR62.50. Earlier in the day, the lender which has an A- rating from Fitch said it will launch a secondary offering on September 30. The bank said in a statement to the bourse that "The number of new shares offered for the Private Subscription on Rights basis is 14,950,000. The share price is QR30 per share (QR10nominal value plus QR20 premium). Qatari Shareholders can subscribe to a number of shares not greater than 20% of their shares as at closure on 27/9/2012. However, Shareholders shall have the right to apply to subscribe in shares exceeding their entitled ratio."
Source: AME Info
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