Middle East ETF News Older than One Year
Weak input from Asian, Western markets weigh on Dubai bourse
April 05, 2012--Following a fierce battle between bullish and bearish traders, the Dubai equity index DFMGI finished one percent lower at 1,686.50 points Thursday.
Indexes in East Asia, Europe and the U. S. were fickle as investors preferred to stay on the sidelines ahead of U. S. employment reports on Friday. While Union Properties rebounded 1.13%, Emaar, as the most liquid share, dropped by 0.61%. Market breadth was negative as 10 shares advanced and 14 declined. Around 463.3m shares were traded, valued at Dhs626,4m.
Source: AME Info
Dubai Mercantile Exchange reaches three billion barrels traded since launch in another record trading month
Total volume traded since 2007: 3,002,709 contracts (three billion barrels equivalent)
New record monthly trading volume: 112,993 contracts
First quarter 2012 average daily volume: 4,832 contracts (an increase of 1,753 contracts over first quarter 2011)
(*as at close of trading on 30 March 2012)
April 4, 2012 --The Dubai Mercantile Exchange (DME), the leading energy futures exchange in the Middle East, today announced the increasing success of its flagship DME Oman
contract after trading three million contracts, equivalent to three billion barrels of crude oil, since launch in June 2007. The news came at the end of another record trading month, which saw the exchange trade 112,993 contracts, a five percent increase on the number of contracts traded in February, which was also a record month for DME.
Source: Dubai Mercantile Exchange (DME),
DGCX Records Highest Ever Monthly Volumes in March
March volumes rise 141% year‐on‐year to reach 550,735 contracts, valued at $22.8 billion
Indian Rupee futures achieve highest ever monthly volume of 495,153 contracts
Year-to-date volumes jump 126% from 2011 to reach 1,545,899 contracts
April 4, 2012--March volumes on the Dubai Gold and Commodities Exchange (DGCX) registered a substantial growth of 141% from the previous year to reach 550,735 contracts, the highest ever monthly volumes achieved by the Exchange.
March volumes represent a value of $22.8 billion. Year-to-date volumes saw a huge jump of 126% from 2011 to reach 1,545,899 contracts at the end of March while average daily volume increased 152% from last year to reach 25,033 contracts.
Source: Dubai Gold and Commodities Exchange (DGCX)
Bahrain Bourse dives as banking sector struggles
April 04, 2012--The Bahrain All Share Index fell 0.76% to 1,141.47 points Wednesday. Shares of Ahli United Bank plummeted 3.63%.
According to a study conducted by the Boston Consulting Group, retail banking revenues in the Kingdom of Bahrain fell 7% in 2011. Esterad Investment Company bucked the trend, gaining 2.31%. With today's trading action the Bahrain Bourse fell back to the red on a year-to-date basis.
Source: AME Info
FALCOM Announce rebalancing of FALCOM Saudi Equity ETF
April 4, 2011-Reference to The Saudi Stock Exchange (Tadawul) announcing the free float shares of the listed companies as of 28/04/1432 AH corresponding to 02/04/2011 AC.
And their update of F30 index to reflect new market capitalization. Accordingly, FALCOM Financial Services has conducted on 03/04/2011 rebalancing process on the components of the FALCOM Saudi Equity ETF basket. For further information and to obtain the updated components of the new Basket please visit the Fund website: http://etf.falcomwatch.com
Source: FALCOM
Tadawul market ends week-long advance
April 04, 2012--On the last trading day of the week in Riyadh ,the Saudi Tadawul market dipped 0.44% Wednesday, closing at 7,930.58 points.
After doubling in value year-to-date, Saudi Re for Cooperative Reinsurance dived 2.72% to SR17.85. Competition is fierce in the GCC reinsurance sector as population growth fuels premium growth. Earlier in the week, Swiss Re, the world's second largest reinsurance companies, announced it has receivd a licence from the Dubai Financial Services Authority (DFSA) to operate in the Dubai International Financial Centre (DIFC). "The Swiss Re Dubai branch will initially focus on offering specialty risk solutions to corporate clients in the Energy, Power, Engineering, Construction and General Aviation (airports, airport-related services and business jets) industries in the Middle East," a Swiss Re spokesperson said.
Source: AME Info
Qatar National Bank's first quarter profit soars, shares dip slightly
April 04, 2012--The Qatar Exchange (QE) 20 Index slipped 0.04% to 8,849.58 points, as banks and real estate firms weighed on the gauge.
The Gulf state's first lender in relation to assets Qatar National Bank or QNB declined 0.66% to QR135.90. Earlier in the day, QNB reported the net profit for the first quarter amounted to QR2.0bn, up 17.4% year-on-year. Earnings per share increased to QR2.9 compared to QR2.8 in March 2011. QNB Group operates in 24 countries around the world through its network, subsidiaries and associate companies employs about 7,000 staff operating from 335 branches and offices that are supported by an ATM network that exceeds 650 machines. QNB was named one of the World’s 50 Safest Banks and one of the Safest Banks in the Middle East, according to the latest update published by Global Finance in April 2012.
Source: AME Info
Bahrain Bourse dives as banking sector struggles
April 04, 2012--The Bahrain All Share Index fell 0.76% to 1,141.47 points Wednesday. Shares of Ahli United Bank plummeted 3.63%.
According to a study conducted by the Boston Consulting Group, retail banking revenues in the Kingdom of Bahrain fell 7% in 2011. Esterad Investment Company bucked the trend, gaining 2.31%. With today's trading action the Bahrain Bourse fell back to the red on a year-to-date basis.
Source: AME Info
Abu Dhabi market end flat in dull trading
April 04, 2012--National Bank of Abu Dhbai (NBAD) and Dana Gas closed Wednesday trading even, like the ADX General Index (at 2,563.77).
Market bellwether share Etisalat, the UAE's first telecom operator, dipped slightly. Earlier in the day, Etisalat announced it has appointed Mohamed Al Hosani as Corporation Secretary, effective from April 1.
Source: AME Info
Dubai market index knocks out 1,700-resistance as Bollinger Bands narrow
April 4, 2012--With Arabtec Construction (up 3.48% at Dhs3.57) and Emaar (gaining 2.83% at Dhs3.27) rising further, the Dubai Financial Market General Index (DFMGI) closed a roller coaster trading session 0.57% higher at 1,703.30 points Wednesday,
ending a four-week long sideways period. Despite dull Asian and European markets, investors were still euphoric about Abu Dhabi's sovereign wealth fund decision from Tuesday to double its stake in Arabtec to 10.45%. Construction maintenance firm Drake and Scull International or DSI tumbled 1.90% to close at Dhs1.03. Earlier in the day, Gulf News reported DSI's Chief Financial Officer Osama Hamdan said the firm regarded the market's share valuation as 'unfair'. The DSI CFO appealed to investors to distinguish between the Euro zone debt crisis and DSI's proactive policy to expand to foreign and stable markets like India or Algeria. Market breadth ended in the red as eight shares advanced, while 16 declined. Bollinger Bands narrow around the rising DFMGI chart, usually a bullish signal. Around 275m shares were traded, valued at Dhs587m.
Source: AME Info
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