Middle East ETF News Older than One Year
Tadawul bourse falls as Greece crisis escalates
May 15, 2012--The Saudi Stock Exchange' market measure closed 1.6% lower at 7,067.99 Monday, as oil prices remained under pressure amid increasing doubts that Greece will remain in the Euro zone.
Saudi Basic Industries or Sabic declined the fourth day straight, closing off 1.78% at a four-month low at SR96.50. Market breadth ended deeply in the red as 10 shares advanced and 132 declined.
Source: AME Info
Etisalat advances halt Abu Dhabi market deline
May 14, 2012--After losing ground for three days straight, the ADX General Index closed flat at 2,473 Monday, as bellwether Etisalat added 0.60% to reach Dhs8.72.
Fifteen shares closed unchanged, among them Sorouh Real Estate. Dana Gas (off 2.50%) and Aldar Properties (down 0.96%) weighed in the gauge. Some 65m stocks worth Dhs101.4m changed hands.
Source: AME Info
Qatar Exchange hits fourth day of losing streak
May 14, 2012--The QE 20 Index fell 0.55% to 8,489.10 points Monday, as stocks sank across the board.
Qatar National Bank ended even, while Vodafone Qatar slipped two percent after hitting a four-week high yesterday. Earlier in the day, Vodafone Qatar said it will publish results for the fiscal year 2011/2012 which ended March 31 on June 7.
Source: AME Info
Bahrain Bourse consolidates at 1,160 points
May 10, 2012--The Bahrain All-Share Index closed unchanged at 1,160.08 points Thursday, as shares from the hospitality industry gained,
while financial remained sluggish. Islamic financial institution Salam Bank fell 4.17% to BD0.046. Bahrain Hotels and Bahrain Duty Free advanced three percent and 0.76%, respectively.
Source: AME Info
Qatar Exchange slips deeper into the year-to-date red
May 10, 2012--The QE 20 Index declined 0.66% to 8,548.26 points, mostly due to losses in the banking and real estate segment.
The country's largest lender Qatar National Bank declined 0.15% to QR133.10. Doha Bank added 0.20% to reach QR57.40. General Insurance gained the most, closing six percent higher at QR50. Year-to-date the QE Index fell 2.63%, which is the worst performance in the GCC.
Source: AME Info
Taqa gains as energy giant earns 251% more in Q1
May 10, 2012--The Abu Dhabi market ADX slipped 0.12% Thursday, finishing the week at 2,478.15 points.
Abu Dhabi National Energy Co. or Taqa gained 0.83% to reach Dhs1.20. Earlier in the day, Taqa reported that its first quarter net profit (after minority interests) reached Dhs152m, representing a 252% year-on-year increase. The emirate's first real state developer Aldar Properties dived 3.67% to Dhs1.05.
Source: AME Info
Market breadth improves as Dubai market defends 1,500-level
May 10, 2012--The Dubai Financial Market General Index closed 0.78% lower at 1,515.02 points Thursday.
Nine shares advanced, 14 declined and three closed even. Emaar Properties climbed back Dhs2.98 (up one percent), while investment bank Shuaa Capital plummeted 7.50%. Despite the DFMGI's sharp fall this week (down 4.11%) amid an ongoing flow of bad news from the Euro zone , EFG Hermes' research said earlier in the day in its Short Term Update UAE: "We continue to believe in Dubai. We think the last part is irrational and could be washing out. Market will have significant support between current level down to the 1485 level." Some 145m shares were traded today, valued at Dhs219.4m.
Source: AME Info
Bahrain Bourse consolidates at 1,160 points
May 10, 2012--The Bahrain All-Share Index closed unchanged at 1,160.08 points Thursday, as shares from the hospitality industry gained, while financial remained sluggish.
Islamic financial institution Salam Bank fell 4.17% to BD0.046. Bahrain Hotels and Bahrain Duty Free advanced three percent and 0.76%, respectively.
Source: AME Info
Saudi ratings affirmed as sound by S&P
May 09, 2012--Saudi Arabia: Standard & Poor's Ratings Services has affirmed its long-and short-term foreign and local currency sovereign credit ratings on Saudi Arabia at 'AA-/A-1+' with 'Stable' outlook, Saudi Gazette has reported.
"The ratings on Saudi Arabia are supported by our view of the government's very strong external and fiscal positions, which have been built over a number of years. By prudent macroeconomic management, the government has reduced its general government debt, generating additional fiscal space for countercyclical policies," S&P said. [AMEInfo.com]
Source: AME Info
Saudi Tadawul market hits 10-week low as Spain moves to take over troubled lender Bankia
May 09, 2012--The Saudi Arabian equity market gauge Tasi dived two percent to close at a 10-week low at 7,221.5 points Wednesday. Sabic, the petrochemicals bellwether,
fell again below SR100, closing down one percent at SR99. Bond yields in Spain crossed the 6% barrier for the second time in two weeks Wednesday on rising concerns over the European Kingdom's banking sector, Bloomberg reported. After the Saudi market closed it was revealed that the government of Spain may nationalise the country's fourth largest lender Bankia, which piled up toxic assets, mainly from the nation's sluggish real estate sector. The news is considered an escalation of the Euro zone crisis.
Source: AME Info
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