Middle East ETF News Older than One Year
Saudi Airlines Catering Company accomplishes IPO mission
July 9, 2012--In Riyadh, the Tadawul All-Share Index lost 93.13 points or 1.43% to close at 6,756.99 following weak input from markets in Japan and Europe.
The decline was broad as 17 out of 155 symbols traded advanced while 132 fell in value. Sabic fell 1.12% to SR88.50. Shares of Saudi Airlines Catering Company celebrated its trading debut on Monday after the firms successfully completed a $347m IPO, floating 30% of its capital. The shares closed at SR62. According to the Saudi Gazette, the firm offered 24.6m shares between June 18 and 24 at a price of SR54 per share. Banque Saudi Fransi closed flat at SR34.10. Earlier in the day. the lender said that net income during the first six months of 2012 amounted to SR1.546bn compared to SR1.490bnfor the same period last year with an increase of 3.8%. Commenting on the performance, Banque Saudi Fransi said in a statement to the bourse "The reason for the increase in the net income for the six months ended June 30, 2012 compared to the same period last year is the increase in the operating income."
Source: AME Info
Kuwait bourse risks of falling into the year-to-date-red
July 9, 2012--The KSE Market Index declined by another half a percentage point Monday, closing at 5,842.19 points as oil prices (DME Oman crude)
fell by $1.10 to $96.82. Palms Agro Production Co. adavnced the most (up 9%), while comsumer services and oil and gas shares weighed on the gauge. Arab Insurance Group posted the largest declined (down 10.42%).
Source: AME Info
Industries Qatar enters into Algerian iron steel joint venture
July 9, 2012--In Doha, the Qatar Exchange 20 Index declined 0.31% to 8,247.49 points.
The country's second lender by assets Commercial Bank of Qatar was one of the few gainers in the financial segment, closing 0.43% higher at QR69.50. Shares of Industries Qatar slipped 0.40% to QR131.50. Earlier in the day, the bourse's bellwether confirmed media reports that Industries Qatar will built in the east of Algeria an iron and steel factory with a 5 million tonnes-a-year capacity. The joint venture will be held 49% by Qatar and 51% by Algeria. Financial details were not disclosed.
Source: AME Info
Abu Dhabi bourse advances the fifth session straight
July 9, 2012--The ADX General Index gained 0.14% Monday to close at 2,478.67 points.
Market heavyweight Emirates Telecommunications or Etisalat edged up by 0.11% to hit Dhs9.22. Developers and merger candidates Aldar Properties and Sorouh Real Eastate fell to close at Dhs1.13 (off 0.90%) and Dhs1.01 (down one percent), respectively. Some 31m shares were traded, valued at Dhs45.2m.
Source: AME Info
Dubai market struggles with barrier at 1,500 points
July 9, 2012--In line with a sluggish debit of the week in Asia and Eurooe, the Dubai Financial Market General Index ended 0.42% lower at 1,491.95 points Monday.
Market bellwether Emaar Properties fell 0.65% to Dhs3.06. Five out of 23 securities traded advanced, while 15 declined and 3 ended flat. Gulf General Investment Company or GGICO gained the most, finishing up 3.75% to reach Dhs0.36. Around 70m shares worth Dhs106.4m changed hands.
Source: AME Info
Muscat bourse rebounds, ends four-day losing streak
July 05, 2012--The Omani stock exchange's MSM30 Index closed Thursday trading with a gain of 0.36% and ended at 5,577.29 points.
National Bank of Oman topped the charts, closing 2.50% higher at OR0.288. Oman's banking sector got a boost from the government after it allowed Islamic banking services in May last year. Shares of Bank Muscat gained 0.92%, finishing at OR0.551. Earlier in the day, Zawya reported that Bank Muscat "is all set to raise OR96.m from a rights issue aimed at enhancing Tier 1 capital. The bank is offering 226.5 million shares at 0.427 baisa per share comprising a nominal value of 100 baisa, premium of 325 baisa and issue expense of 2 baisa per share." The proceeds will be used to finance the lender's expansion and its the Islamic window in particular.
Source: AME Info
Investors hail Qatar National Bank's half-year results
July 5, 2012--The QE 20 Index advanced 0.16% to reach 8,267.36 points Thursday.
Qatar National Bank or QNB, the Gulf state's largest lender by assets, closed 0.90% higher at QR133.80. Yesterday, QNB revealed a net profit of QR4.1bn for the first half of 2012 a 17.1% increase in comparison to QR3.5bn for the same period last year.
Source: AME Info
National Bank of Abu Dhabi expands to Malaysia, shares and market close unchanged
July 05, 2012--The Abu Dhabi equity measure ADXGI closed flat at 2,472.27 points Thursday.
Amid rising oil prices and an ever increasing global energy demand, Abu Dhabi National Energy Co. or Taqa added 0.83% to reach Dhs1.22. The sheikhdom's largest lender National Bank of Abu Dhabi, known as NBAD, closed even at Dhs8.25. Earlier in the day, NBAD said it launched its wholly owned subsidiary National Bank of Abu Dhabi Malaysia Berhad (NBAD - Malaysia) in Kuala Lumpur, expanding NBAD’s global network to 14 countries. The UAE was Malaysia’s biggest trading partner in the GCC in 2011 with MYR21.06bn (Dhs24.42bn) of trade flows. "The opening of NBAD’s first branch in Southeast Asia is a major step for the National Bank of Abu Dhabi. Southeast Asia is one of the fastest growing regions of the world with a strong commercial link to the UAE and Gulf Cooperation Council (GCC)," said Qamber Ali Al Mulla, the Senior General Manager of International Banking Division of NBAD.
Source: AME Info
Buyoant Dubai market bucks sluggish global trend
July 5, 2012--The DFM General Index consolidated above 1,500 by gaining 1.02% to reach 1,504.70 points Thursday,
ending the week at a one-month high amid an improved indicators at the real estate market and a stable business climate in the emirate of Dubai. As trading volumes edged higher at the start of July, shares of the DFM, the only Arab bourse to be listed, gained 1.53% to reach Dhs0.995. Emaar closed 1.65% higher to hit Dhs3.08, a four-week high. Investment bank Shuaa Capital lost the most, finishing off 1.52% at Dhs0.65. Twenty-three shares advanced, while two declined and one ended flat. Around 80m stocks were traded, valued at Dhs100.7m.
Source: AME Info
DGCX Gold Futures Rise 111% as Exchange Sets Fourth Consecutive Monthly Volumes Record in June
July 4, 2012--Exchange registers 889,131contracts in June, valued at $32.92 billion, a growth of 231% from June 2011
DGCX H2 2012 Volumes Rise 172% to aggregate 3,848,002 contracts
Gold futures grow 111% in June to total 60,353 contracts
Indian Rupee futures jump 290% to reach 797,328 contracts
Driven by significant surges in Gold and Indian Rupee futures trading, June volumes on the Dubai Gold and Commodities Exchange (DGCX) jumped 231% from last year to reach 889,131 contracts, the Exchange's fourth consecutive monthly volumes record. June volumes represent a value of $32.92 billion.
Source: DGCX
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