Middle East ETF News Older than One Year
Qatar's Al Meera Goods Co. gains on soaring half-year net profits
August 15, 2012--The QE Index consolidated at its 10-week high Wednesday as it ended 0.03% higher at 8,421.08 points.
Shares of Al Meera Consumer Goods Company advanced to hit QR165.50. Earlier in the day, Al Meera said that the reviewed financial statements for the period ending June 30, 2012 revealed a net profit for the first six months this year of QR46.7m compared to to QR34.8m for the same period last year.
Source: AME Info
Abu Dhabi bourse gains the seventh session straight
August 15, 2012--The ADX General Index consolidated above its four-month high by closing 0.13% higher at 2,556.96 Wednesday.
Ras al-Khaima (RAK) Ceramics was the top gainer. The world's largest ceramics producer jumped 7.48% to hit Dhs1.15. RAK Ceramics reported a profit of Dhs159.017m for the first half of 2012, up 19.52% year-on-year. Real estate leaders Aldar Properties and Sorouh Real Estate closed unchanged at Dhs1.26 and Dhs1.09, respectively.
Source: AME Info
Resilient Dubai market withstands growth worries in China
August 15, 2012--Amid negative input from Asia, the Dubai Finanical Market General Index fell sharply at the opening but eventually regained terrain and closed 0.10% higher at 1,578.98 points.
A fall in the price of copper has triggered worries about the projected soft landing of the China's economy and weighed on Asian markets early Wednesday. At the DFM, shares of real estate maintenance specialist Drake and Scull International or DSI dived 1.94% to hit Dhs0.91. Earlier in the day, DSI reported a net profit of Dhs75m for the first half of 2012 representing a 29% year-on-year. Gains at market heavyweights Emaar Properties (up 0.30% at Dhs3.47) and bank Emirates NBD (gaining 0.67% at Dhs3.02) supported the market index.
Source: AME Info
National Shipping Co. of Saudi Arabia gains on new SR480m-contract
August 14, 2012--In Riyadh, the Saudi Stock Exchange market measure Tasi closed Tuesday 0.04% higher at 6,968.31.
In line with the lacklustre trading ahead of Eid holidays, market bellwether Sabic closed flat at SR91.50. Shares of The National Shipping Co. of Saudi Arabia, known as Bahri, jumped two percent to hit SR18.05. Earlier in the day, Bahri announced that its 80% owned subsidiary The National Chemical Carriers Company Ltd. (NCC) signed a time charter agreements for three chemical tankers with International Shipping and Transportation Company Ltd., a subsidiary of Sabic, for a period of 5 years, with an option of extension for another 5 years period. The value of these time charter agreements is approximately SR480m for the first five years.
Source: AME Info
Kuwait's logistics giant Agility advances on rising revenues
August 14, 2012--The KSE Market added 0.20% Tuesday to hit 5,700 points.
Shares of logistics provider Agility Public Warehousing Co. jumped 2.53% to reach KD0.405. Earlier in the day, Agility said revenues in the second quarter 2012 rose to KD348.8m, representing a 6% increase year-on-year. The Q2 net profit remained flat, compared to the same quarter last year, at KD7.8m.
Source: AME Info
Qatar German Medical falls as losses widen
August 14, 2012--The QE Index in Doha added 0.10% to hit 8,418.29 points.
Shares of Qatar German for Medical Devices Company dived 2.10% to close at QR11.65. Earlier in the day, Qatar German said the reviewed financial statements for the period ending June 30, 2012 revealed a net loss of QR3.4m in comparison to a net loss QR2.1m for the same period last year.
Source: AME Info
Abu Dhabi blue chip shares drive market higher
August 14, 2012--The ADX General Index advanced a quarter percentage point to hit 2,553.56 points, the highest level since May.
Abu Dhabi National Energy Co. or Taqa gained 1.60% to close at a two-month high at Dhs1.27. Taqa reported a 2.8% rise in second quarter net profit, amounting to Dhs447m. Market heavyweight Etisalat, the UAE's first telco firm, added 0.11% to close at Dhs9.10.
Source: AME Info
Dubai market quarrels with 1,580 resistance
August 14, 2012--Profit bookings pulled the equity inded DFMGI lower by 0.25% to 1,577.61 points Tuesday, despite positive input from markets in Asia and Europe.
Most real estate-related shares underperformed with Emaar (off 0.29% at Dhs3.46), Drake and Scull International (0.22% lower at Dhs0.928) and Arabtec (down 1.38% at Dhs2.85) being among the most liquid shares. Islamic insurer Takaful Emarat gained the most (up 15% at Dhs0.69). At the NASDAQ Dubai, shares of global maritime port operator DP World jumped two percent to hit $10.35.
Source: AME Info
Profit booking ahead of Eid drags Saudi stock market slightly lower
August 13, 2012--The Tadawul All-Share Index slipped 0.43% to 6,965.66 points, as only 29 out of 153 traded shares advanced while 105 declined.
Because the end of Ramadan approaches (starting on Friday, August 17), investors prefer to cash in on the bourse's summer rally. Saudi Enaya Cooperative Insurance fell 1.82% to SR54. Earlier in the day, the Islamic insurer said its has received on date a license from The Saudi Arabian Monetary Agency (SAMA) to offer practice medical insurance products.
Source: AME Info
Kuwait bourse recovers slightly
August 13, 2012--The KSE Market Index added 0.20% Monday, closing at 5,689.24.
Unted Foodstuff Industries Group gained the most, ending up 9.9% at KD0.222. Lenders performed in a mixed way, as National Bank of Kuwait or NBK shed two percent to hit KD0960. Gulf Bank of Kuwait advanced four percent, finishing at KD0.400.
Source: AME Info
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