Middle East ETF News Older than One Year
Qatar market rises the fourth day straight
October 12, 2011--Qatari shares gained across the board, lifting the QE Index by 0.78% to 8,418.16 points. With today's performance the QE Index improved its year-to-date yield to minus three percent, the best performance among all Arab stock exchanges (as yet).
Doha Bank closed at QR, after the bank reported a net profit for the 9 months period ending 30 September 2011 of QR1.01bnwhich represents a significant increase of 13% versus the corresponding period last year. His Excellency Sheikh Abdul Rehman Bin Mohammad Bin Jabor Al-Thani, Managing Director of Doha Bank said “These results not only demonstrate the strength of the Banks underlying operations but also the efficient deployment of shareholder’s funds which have generated a return on average equity of 22.4% which continues to be amongst the highest within the GCC.
Source: AME Info
Bank Al Jazira shares dip, as Q3 profit rises threefold
October 12, 2011--The Tadawul bourse dipped 0.22% to reach 6,105.04 points. Bellwether Sabic declined 0.27% to SR91.25. Shares of Bank Al Jazira declined 0.87% to SR16.75.
Earlier in the day Bank Al Jazira reported a net income during the third quarter was SR66m, compared to SR22m for the same quarter last year with an increase of 200%, mostly due to a 35% jump in customer deposits. Over the week, the Tadawul market gained 1.72%.
Source: AME Info
Arab bourses dip to lowest level
Kuwait records largest fall; Tunisia only gainer
October 12, 2011--
The global economic uncertainty along with ongoing political unrest in the region continued to take their toll on the Arab bourses as they dived this week to their lowest level so far this year, official data showed on Wednesday.
At the end of Monday’s dealings, the combined market capitalization of 13 official Arab stock exchanges stood at $870.2 billion, its lowest level since the start of 2011, the Abu Dhabi-based Arab Monetary Fund (AFM) said.
Source: Emirates 24/7
Jordan's inflation rises to 4.8% in September
October 10, 2011--According to the Jordanian Department of Statistics, the kingdom's year-on-year consumer price inflation rose to 4.8% in September,
Reuters has reported. Compared with a month earlier, the September consumer price index was up 0.2 due to a rise in transport, food and consumer items. Yearly inflation has picked up since the start of the year on the back of oil and commodity prices, but government subsidies have helped curb rises in some food prices. [AMEInfo.com]
Source: AME Info
Saudi market rises the fourth day straight
October 10, 2011--The Tadawul All Share Index closed 0.61% higher at 6,136.97 points. The Riyadh-based benchmark was mainly lifted by advances in the financial and petrochemical sector.
Sabic added half a percent and closed at SR92.25. Saudi Hotels & Resort Areas Co. closed up 0.35% at SR28.70. Earlier in the day, Saudi Hotels announced that net profit during the third quarter amounted to SR41.1m as compared to SR32.6m for the same quarter of the previous year with growth of 26.1 and compared to SR35.7m for the previous quarter with growth of 15.1%. "The major reason behind the profit increase is the improvement in the operating results of the most properties," the firm said in a statement posted on the Tadawul website.
Source: AME Info
DP World shares hit six-week high
October 10, 2011--The FTSE NASDAQ Dubai UAE 20 Index closed at 1448.79, up 0.23% from the previous close.
Global maritime port operator and market bellwether DP World gained 4.27%, closing at $11.00. Dubai Gold Securities added 0.75%, reaching $164.22 in line with the mini-recovery in gold prices (up 1.87% at $1,666.40 per ounce on Monday). Interior design company Depa Limited advances 0.22%, closing at $0.45.
Source: AME Info
Banks keep Qatar Exchange on track
October 10, 2011--The Qatar Exchange Index finished 0.21% higher at 8,284.79 points. While banks posted small gains,
insurance companies weighed on he index. Market bellwether Industries Qatar dipped 0.08% to QR122.80.
Source: AME Info
Abu Dhabi market dips 0.07%
October 10, 2011--The ADX General Index closed off 0.07% at 2,498.00 points. In a more than lacklustre trading session, shares of Etisalat, Dana Gas, National Bank of Abu Dhabi and First Gulf Bank closed even.
Aldar Properties fell 1.79% to Dhs1.10. Gulf Medical Projects Co. posted the largest advance, ending 9.71% higher at Dhs1.92. Only 27.7m shares were traded, valued at Dhs40.7m.
Source: AME Info
Recession fears drag Dubai exchange lower
October 10, 2011--The DFM General ended off 0.62% at 1,389.57 points. Earlier in the day, UK Prime Minister David Cameron expressed doubts whether the Euro Zone is able to solve the best crisis in Greece, Italy, Spain,
Portugal and Ireland. Also, the Global View investment outlook for the fourth quarter of 2011 published by Swiss Private Bank Sarasin sees the global economy on the brink of recession. At the DFM, Emaar lost 1.54%, closing at Dhs2.55. DFM shares dived 1.92% to close at Dh1.02. Some 80.5m shares were traded, valued at Dhs59.3m.
Source: AME Info
Dubai Gold & Commodities Exchange Weekly Market Commentary - October 9, 2011
October 9, 2011--Economic Data Overview
The October 10 week is shortened in the US by the Federal holiday on Monday in observance of Columbus Day.
Earnings season for the third quarter 2011 begins with release of numbers from Alcoa on Tuesday. The pace of reports is still slow, but will gather steam in the October 17 week.
While the US data calendar is reasonably busy, only the numbers for retail and food sales for September on Friday are likely to have a big impact. This data could be on the soft side except for motor vehicle sales which were solid for the month. Consumers were generally quite cautious in their spending in September, but there is the possibility that decent sales activity at department stores and discounters could provide a little upward momentum. Otherwise, gasoline prices declined and that will reduce the dollar amount of sales for service stations. Elsewhere consumers stuck to necessities, although a good bargain could tempt some buying.
The two earliest of the monthly measures of consumer confidence will help gauge if attitudes were less pessimistic as October started. The IBD/TIPP Economic Optimism Index for October on Tuesday, and the preliminary Reuters/University of Michigan Consumer Sentiment Index on Friday both come on the heels of a slight improvement as September ended. Current readings are consistent with a gloomy outlook, but any brightening would be welcome at this point.
The Import and Export Price Indexes for September on Friday should reflect slight increases in petroleum prices for the month, and a modest decline in agricultural product prices. Upward pressure from prices for imports of motor vehicles should abate further as supplies of finished cars and parts become more plentiful.
Data on international trade for August on Thursday will help round out the available information for net exports for the preliminary third quarter GDP report at 8:30 ET on Thursday, October 27. Imports typically start to rise at this time of year to meet expected demand for the holiday shopping season, but retailers are signalling that they have modest expectations for the upcoming months. Inventory building will probably be quite restrained.
The numbers for business inventories for August on Friday should show that inventories were
Source: Dubai Gold & Commodities Exchange (DGCX)
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