Middle East ETF News Older than One Year
Qatar Exchange hits GCC markets' bottom in H1 2012
June 28, 2012--The QE 20 Index declined half a percentage point to hit 8,123.02.
Shares lost across the board, with market bellwether Industries Qatar falling 1.20% to QR125. With a performance of minus 7.41%, the Doha-based bourse is the worst ended the first six months of the year as the worst performing gauge as the Qatari economy, which has been advancing with double-digit growth rates from 2006 to 2011, shows increasing signs of a cooling down.
Source: AME Info
Abu Dhabi bourse loses most of its first quarter advance
June 28, 2012--On the last trading day of the first half-year, the ADXGI fell 0.90% to close at 2,447.62 points, as market leader Etisalat (off 3.26% at Dhs9.34) and real estate giant bellwether Aldar Properties (down 0.90% at Dhs1.12) weighed in the gauge.
Trading volumes improved to Wednesday as 25m shares were traded, valued at Dhs43m. In the first six months of 2012, the measure added 1.83%, much less than in the first quarter when the ADXGI was up by 6.22% asthe Eurozone debt crisis escalated in Q2 and falling oil prices prevented the Abu Dhbai market to rise against the sluggish global trend.
Source: AME Info
Dubai market is top GCC performer in H1 2012
June 28, 2012--The Dubai Financial Market General Index (DFMGI) finished Thursday trading flat at 1,451.87 points, ending a six-day losing streak.
Emaar Properties closed one percent lower at Dhs2.80. Investment bank Shuaa Capital jumped 6.77% to hit Dhs0.694. With a profit of 7.40%, the DFMGI is the posted the highest advance among al GCC stock market indexes in the first six months of 2012.
Source: AME Info
Bahrain Bourse adances slightly, but remains in the red in H1
June 28, 2012--The Bahrain All-Share Index advanced 0.21% to reach 1,126.71 points Thursday, ending the first half of 2012 with a small loss of 1.48%.
Bahrain Tourism Company surged 5.47% to hit BD0.27. Shares of Islamic bank Ithmaar lost the most, finishing off 8% at $0.115.
Source: AME Info
Qatar's Aamal gains on joint venture with South Korea's C&C Lightway
June 27, 2012-With the exception of the financial sector, Qatar-listed equities fell across the board Wednesday, pulling the QE 20 Index down by 0.35% to hit a 13-month low at 8,166.98 points.
Shares of diversified conglomerate Aamal Company added 0.44% to reach QR15.87. Earlier in the day, Aamal said it signed a joint venture agreement with C&C Lightway from South Korea. "The joint venture will initially trade in, and distribute, LED (Light Emitting Diode) and other lighting products (indoor, outdoor and façade) for the Qatari market and other GCC countries," Aamal said in a statement to the Qatar Exchange, adding that "the joint venture also plans to establish in the near future a factory to assemble and manufacture LED lamps and other lighting products using technology and know-how from C&C Lightway. The factory will serve the Qatari and MENA region markets."
Source: AME Info
Kuwait Stock Exchange consolidates above 5,800 points
June 27, 2012--The KSE Market Index closed insignificantly lower at 5,820.94 Wednesday.
A slight increase of the recently beaten down oil prices helped the Kuwaiti gauge to stabilise. The country's largest lender National Bank of Kuwait or NBK edged 1.96% higher to reach KD1.040. Amar for Finance and Leasing posted the largest increase (up 9.8% at KD0.056). Contracting and Marine Services Co. fell the most, heading nine percent lower to hit KD0.142.
Source: AME Info
Abu Dhabi developers close flat, while market index is mostly dragged down by Etisalat
June 27, 2012--A lacklustre ADX General Index lost half a percentage point Wednesday and closed at one-week low at 2,469.86 points.
Trading volumes fell to a new 2012-low as 19.4m shares were traded, valued at Dhs37.3m. Commercial Bank International gained the most (up 10% at Dhs0.99). Bellwether Etisalat, the UAE's first telco firm, closed 1.86% lower at Dhs9.33. Merger candidates Aldar Properties and Sorouh Real Estate closed unchanged at Dhs1.12 and Dhs1.02, respectively.
Source: AME Info
Dubai market dips slightly, but defends key support line
June 27, 2012--The DFM General Index ended off 0.16% Wednesday, closinga at 1,452.18 points.
Market bellwether Emaar slipped 0.35% to Dhs2.83, while Arabtec Construction edged 0.36% higher to reach Dhs2.82. Despite the 6th decline in a row, the DFM gauge did not break down through 1,450 points, which EFG Hermes says is a key support level, and its could be pivot element in fulfilling a reverse "shoulder-head-shoulder"-pattern, in case the Dubai market bounces back. Trading volumes declined once more, as only 36m worth Dhs46.2m changed hands.
Source: AME Info
Dubai non-oil trade up 6.6% in Q1
June 27, 2012--Statistics released by Dubai Customs indicate the emirate’s non-oil foreign trade grew 6.6% in the first quarter of 2012 to over Dhs298.1bn, compared with Dhs279.7bn during the same period last year, Khaleej Times has reported.
“The growth is widely attributed to the implementation of several economic, tourism and construction projects, which also includes the development of modern infrastructure like customs facilities at ports and airports and the provision of more advanced services,” said Ahmed Butti Ahmed, the executive chairman of Ports, Customs and Free Zone Corp. “These achievements all reflect Dubai government departments’ effort to reinforce trade activity as Dubai foreign trade represents a big stake of the country’s non-oil trade with the world by nearly 80%,” Butti said.
Source: AME Info
Bahrain Bourse lifted by banking shares
June 26, 2012--The Bahrain All-Share Index added 0.40% Tuesday, to reach 1,128.61, still trading 1.31% below its level on January 1.
Bank of Bahrain and Kuwait or BBK posted the largest advance, ending up 2.60% at BD0.394. Earlier in the day BBK said it has the third consecutive year conducted a Crisis Management Simulation Exercise on June 23rd, 2012. "The aim of the exercise is to invoke the bank-wide Business Continuity Plans (BCP) to ensure that critical banking services are recovered and available to customers in the shortest possible time in case of an unforeseen incident," BBK said in a statement to the Bahrain Bourse. Shares of Gulf Hotel Group were the only securities which lost in value (off 1.55% at BD0.635).
Source: AME Info
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