Middle East ETF News Older than One Year
Kuwait Stock Exchange advanced the fourth day straight
May 03, 2012--The KSE Makret Index added 0.60% to reach 6,479.1 Thursday, based on gains in the banking and real estate segment.
All sector indexes landed in the green. Investors Holding Group gained the most (up 11.6%) while NBK added 1.69% to reach KD1.080
Source: AME Info
Taqa receives approval for Bergermet Gas project
May 03, 2012--The ADX General Index slipped 0.16% to hit 2,501.44 points Thursday. While Etisalat, the UAE's first telecom firm, added slightly, real estate firms weighed o the gauge. Dana Gas closed unchanged, while Abu Dhabi National Energy or Taqa dived 2.50%.
Earlier in the day, Taqa said in a statement to the ADX it has received approval from the Dutch council of state for the development of the Bergermeer Gas Storage facility. Preparatory work is scheduled to commence in July. The project has a volume of 4.1bn cubic metres which is the average annual gas consumption of 2.5m households in the Netherlands.
Source: AME Info
Dubai bourse extends losing streak for a seventh day
May 03, 2012--The DFM General Index fell 0.93% Thursday, closing at 1,582.09 points as sluggish share performances of Emaar (down 1.27%)and Arabtec (off 0.86%) were the most liquid shares.
Bank Emirates NBD bucke the trend, gaining 2.15%. The week-long decline in Dubai happens despite a number of good news which the emirate delivered at the beginning of May. Rental prices are reported to head upwards, a first in three years. Earlier today, HSBC reported a rise of the HSCB UAE Purchasing Manager Index to hit a ten-month high at 53.5 points, up from 52.3 in March.
Source: AME Info
DP World shares decline the fourth session straight at NASDAQ Dubai
May 02, 2012--In line with the general sluggish trend at global and regional markets, shares of maritime port operator DP World declined 0.90% to $11.15 Wednesday.
Interior designer Depa Limited closed flat at $0.45. The FTSE NASDAQ Dubai UAE 20 Index closed at 1675.09 today, down half a percentage point from the previous close.
Source: AME Info
Qatar Exchange falls further after failed attack on 8,700 level
May 02, 2012--The QE 20 Index ended off 0.10% at 8,666.24 points Wednesday. Like at most GCC stock exchanges, trading activity remained lacklustre.
Earlier in the day, the IMF said in its update on the regional outlook for the Middle East, North Africa and Pakistan (MENAP), Qatar's real GDP growth will fall further in 2013, to 4.6% from 6% in the current year.
Source: AME Info
Abu Dhabi stock market closes flat
May 02, 2012--The ADX General Index added 0.03% to reach 2,505.54 points Wednesday.
Trading activity remained lacklustre as Dana Gas, Sorouh Real Estate and Invest Bank closed unchanged. Aldar Properties slipped 0.87%, Ras al-Khaima (RAK) Poultry and Feeding gained the most (up 3.85%). Some 31m shares worth Dhs 55.8m changed hands.
Source: AME Info
Dubai market falls below 1,600 point, hits 10-week low
May 02, 2012--Selling pressure continued to drag the Dubai Financial Market down Wednesday, as the market measure DFMGI closed 1.64% lower at 1,596.92 points, the lowest leve since February 21 2012.
Emaar dived 3.08% to close at Dhs3.15, while Arabtec shed half a percentage point. DFM shares closed flat at Dhs1.12. The DFM is the only Arab bourse listed to the public. Around 149m shares were traded, valued at Dhs213.7m. Ten shares gained, 16 ended down and three closed even.
Source: AME Info
Shares of DP World drop, shareholders approve dividend payout
May 01, 2012--The NASDAQ Dubai UAE 20 Index closed at 1683.26 Tuesday, off 0.64%, from the previous close.
Dubai Ports (DP) World, the global maritime port operator, declined 1.83% to $11.25. Earlier in the day, DP World announced that at the Annual General Meeting its shareholders approved in resolution 2 of ththe proposed payout of a dividend of $0.24 per share. Regional jewelry trader Damas International Limited advanced 0.69% to hit $0.438.
Source: AME Info
Sabic recovers territory, while Tadawul gauge remains in stutter mode
May 01, 2012--The Saudi Arabian Tadawul market index Tasi closed 0.17% lower at 7,545.28 Tuesday, as banks and real estate shares overall underperformed.
Market bellwether share Saudi Basic Industries Corporation or Sabic edged up by half a percentage point to close at SR103. Insurance company Buruj lost the most, finishing 3.88% lower at SR62. Fifty-six shares advanced, while 68 securities declined. Some 467.5m shares were traded, valued at SR9.6bn.
Source: AME Info
Arkan Building Materials dive as Q1 profit plummets by a quarter
May 01, 2012--The Abu Dhabi bourse ADX added 0.04% to hit 2,504.78 Tuesady. National Bank of Fujairah or NBF topped the charts by gaining 9.76%.
Dana Gas dived 2.22%. Arkan Building Materials Company ended 5.32% to Dhs0.87. Earlier in the day, Arkan reported a 25.87% year-on-year decline in net profits in the first quarter, amounting to Dhs6.88m.
Source: AME Info
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