Middle East ETF News Older than One Year
Tadawul market turns a red day into a green day
October 18, 2011--The Saudi Stock Exchange opened lower but eventually gained momentum and ended up 0.31% at 6,150.64 points. Market bellwether Sabic recovered from an 11-month low to SR92.25 (up 0.54%). Sabic's rival Sahara Petrochemicals Co. dived 2.77% to SR19.30.
Earlier in the day Sahara Petrochemicals reported it has achieved a net profit for the third quarter SR97.6m , compared with SR68.7m for the same period in the previous year with increase of 42%, and compared with SR209m for previous quarter, with a decrease of 53.3%.
Source: AME Info
Nakilat struggles with QR17 resistance, reports higher 9-month profit
October 18, 2011--The Qatar Exchange (QE) Index declined to 8,400.04 points (off 0.83%). Qatar Gas Transport Company or Nakilat declined half a percent to QR17.15.
Earlier in the day, Nakilat reported a net profit of QR624.8m for the nine months period ended September 30, 2011 in comparison to a net profit of QR501.8m for the corresponding period last year.
Source: AME Info
Etisalat shares slip as telco giant reports lower 9-month income
October 18, 2011--Shares of the UAE's first telecom provider Emirates Telecommunication Corp. or Etisalat lost 0.10%, closing at Dhs9.97.
Earlier in the day, Etisalat reported a 9-month profit of Dhs5.13bn, down 8.4% compared to the previous year's quarter. Earnings per Share declined to Dhs0.65 from Dhs0.71.
Source: AME Info
Sharjah Islamic Bank reports higher Q3 profit, share ends flat
October 18, 2011--The Abu Dhabi stock exchange ADX fell 0.29% Tuesday, closing at 2,446.78 points. Sharjah Islamic Bank or SIB closed even at Dhs0.88.
Earlier in the day, SIB reported that in the third quarter its net profit amounted to Dhs81.5m compared to Dhs73.13m in the same period the year before. Earnings per Share remained flat at Dhs0.03.
Source: AME Info
Dubai market loses, DP World recovers
October 18, 2011--The DFM General Index ended 0.62% lower at 1,357.71 points. Real estate cooling specialist Tabreed lost the most (off four percent at Dhs0.601).
Emaar dipped 0.40% to Dhs2.46. NASDAQ Dubai-listed DP World, whose shares are also listed at the DFM, added 0.37% to re-reach $11.00 amid high trading volumes. Some 40.6m shares were traded, valued at Dhs55.8m.
Source: AME Info
Sabic shares dip despite Q3 profit jump
October 17, 2011--The Saudi Tadawul market ended insignificantly lower at 6,131.8 points. Sabic ended half a percent lower at SR91.75.
Earlier in the day, Sabic reported an interim net income for the quarter of SR8.19bn compared to the net income of SR5.33bn for the same quarter in 2010 representing an increase of 54%, and compared to the net income for the second quarter of 2011 of SR8.10bn representing an increase of 1%. Sabic commented in a statement: "The increase in net income for the quarter and period ended September 30, 2011 compared to the same quarter and period in 2010 is attributable to the increase in production and sales volumes, improved product prices as well as lower financing charges."
Source: AME Info
Commercial Bank of Qatar gains on rising net profits
October 17, 2011--The Qatar Exchange (QE) Index added 0.39%, closing at 8,470.36 points. The country's second bank Commercial Bank of Qatar, known as CBQ, advanced 1.23%, finishing at QR82.00.
Earlier in the day, CBQ announced it has earned a net profit of QR 1.51 billion during the first nine months in 2011, a 14% increase, compared with QR1.33bn for the same period in 2010. The main drivers behind the increase were a strong growth in customer loans and advances (up 20% at QR41.5bn) and customer deposits (16% higher at QR36.9bn).
Source: AME Info
Global Investment House recovers further
October 17, 2011--The KSE Market Index closed unchanged at 5,898.4 points. Kuwait's largest investment bank Global Investment House surged 3.65% to reach KD0.0425, approaching a key resistance level at KD0.048.
Kuwait Syrian Holding was the top loser, closing down 7.9% at KD0.029.
Source: AME Info
United Arab Bank achieves higher Q3 profit, share ends flat
October 17, 2011--The Abu Dhabi bourse ADX closed down 0.71% at 2,453.97 points. Pharmaceutical drug manufacturer Julphar gained the most, closing 2.33% higher at Dhs2.20. Market bellwether Etisalat dipped below Dhs10.00, hitting a one-year low at Dhs9.99 (off 1.48%). Shares of United Arab Bank were not traded. Earlier in the day,
UAB reported for the third quarter a profit of Dhs91.75m, compared to Dhs75.5m in the corresponding period in 2010. Some 46.9m shares were traded, valued at Dhs82.m.
Source: AME Info
Dubai bourse declines by 0.61% as blue chips lose further ground
October 17, 2011--The DFM General Index closed at 1,366.22 points Monday, as Shuua Capital (down 3.08% at Dhs0.756) weighed due to ongoing uncertainty over the Euro debt crisis, while DMF shares rebounded by 0.92% to reach Dhs0.99.
Emaar Properties fell 1.20% to Dhs2.47. According to the DIFC Economic Weekly, quoting Saudi Arabia's NCB, Dubai will witness an excess supply of 15,000 units on the housing market end of year. Some 56.32m shares were traded, valued at Dhs66.7m.
Source: AME Info
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