Middle East ETF News Older than One Year
Developers tear Abu Dhabi bourse down
August 28, 2012--The ADX General Index declined 0.60% to 2,574.11 Tuesday.
Like in Dubai, real estate shares remained under pressure. Aldar Properties and Sorouh lost 2.44% and 0.93%, respectively. Emirates Telecommunications Corporation or Etisalat, which published its corporate governance report earlier in the day, bucked the general downtrend, closing 0.32% higher.
Source: AME Info
Emaar falls to three-week low
August 28, 2012--The Dubai Financial Market General Index (off 0.86% at 1,546.40) corrected further Tuesday on rising trading volumes.
Among the 18 declining securities, real estate bellwether Emaar Properties ended off 1.50% at Dhs3.30, while Islamic developer Deyaar dived 3.60% to 0.351. Eight shares gained, among them Islamic banks Ajman Bank and Dubai Islamic Bank (both up one percent). Some 164m shares were traded, valued at Dhs171.6m.
Source: AME Info
Kuwait's Jazeera Airways advances on green light for rights issue
August 27, 2012--The Kuwait Stock Exchange Market Index gained 0.35% to hit 5,787.19 points Monday.
Shares of Jazeera Airways soared 1.22% to reach KD0.415. On Saturday the budegt carrier said said it had received green light to raise its capital base by 91% to KD42m through a rights issue. The private airliner Jazeera is expected to exercice the right issue at the end of 2012. 200m shares will be allocated to existing shareholders.
Source: AME Info
DP World closes flat ahead of half-year results
August 27, 2012--The FTSE NASDAQ Dubai UAE 20 Index closed at 1678.81 Monday, off 0.76%, from the previous close.
Dubai Ports (DP) World clsoed unchanged at $10.20. DP World announced earlier in the day half-year financial results will be published Wednesday, August 29.
Source: AME Info
Abu Dhabi bourse ends 11-day gaining streak
August 27, 2012--The ADX General Index fell 0.44% to 2,589.60 points Monday.
Market heavyweights Aldar Properties (down 1.60%) and telecom giant Etisalat (off 0.52%) were mostly sold. RAK White Cement bucked the trend and gained two percent
Source: AME Info
Profit booking continues at Dubai market
August 27, 2012--The DFM General Index slipped 0.92% Monday to close at 1,558.83 points.
Bank Emirates NBD fell 3.26% to Dhs2.97. Real estate maintenance specialist Drake and Scull International or DSI dclined 2.10% to Dhs0.891. Earlier in the day, DSI said it decided to postpone its annual general meeting, which was scheduled to be held on August 28, to October 15. Emaar dropped by 1.20% to Dhs3.35. Gulf General Investment Co., known as GGICO, gained the most (up 6.25% at Dhs0.34).
Source: AME Info
Saudi Arabia sees inflation down to 4.7%
August 27, 2012--Kuwait Finance House (KFH) has said the strong performance of the oil sector in Saudi Arabia is expected to reinforce the growth of the GDP during 2012 to reach 6%, while inflation rate is to drop during the second half to 4.7%, Kuna has reported.
The kingdom’s quarterly GDP growth has eased slightly to 5.9% year-on-year in the first quarter of this year from 7.4% year-on-year in the fourth quarter of 2011, due to a moderate growth in the manufacturing sector. However, the quarterly real GDP growth is still considered robust supported by an expansion in the oil sector, KFH said.
Source: AME Info
Developers pull down Dubai market
August 26, 2012--Despite positive input from the Saudi bourse (up 1.44% on Saturday), the Dubai Financial Market General Index dipped 0.90% to close at 1,573.30 Sunday.
Emaar Properties, as the most liquid share, fell 1.74% to Dhs3.39. Deyaar Development dived 8.52% to Dhs0.365. The largest lender in the UAE Emirates NBD bucked the trend, adding 1.32% to reach Dhs3.07. Some 107m shares worth Dhs105m changed hands.
Source: AME Info
Bahrain Tourism Co. leads bourse advances
August 26, 2012--The Bahrain All-Share index added 0.22% Sunday to close at 1,077.70 points.
Bahrain Tourism Co. soared 4.73% to reach BD0.31. Aluminum Bahrain gained 3.75% to close at BD0.498. Ahli United Bank dipped 0.92% to $0.54. With a year-to-date loss of 5.47%, the Manama-based market lags still far behin the other GCC exchanges.
Source: AME Info
Qatar market breaks through 8,500
August 23, 2012--The QE Index added 0.10% to close at 8,503.64, representing the highest level since May 28.
Qatar Islamic Bank or QIB closed flat at QR7.90. Earlier in the day, ratings agency Fitch affirmed the Shari'ah-compliant bank's 'A' rating. QIB said in a statement to the bourse that "This is testimony to the solidity of the bank overall in what remain uncertain economic conditions worldwide. Fitch also recognises that the Qatari government has a history of both willingness and ability to support its banks, which also has a positive influence on the Bank’s rating."
Source: AME Info
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