Middle East ETF News Older than One Year
Saudi corporate net profit up 26% in first half-year
August 10, 2011--The Saudi Tadawul market bucked the negative sentiment on another tricky global trading day, closing half a percent higher at 6,039.32 points on Wednesday.
Kingdom Holding, the investment company of HH Prince Alwaleed Bin Talal Bin Abdulaziz Al-Saud, gained the most (up 4.26% at SR7.35) amid rumors the Prince plans a Middle Eastern TV joint venture with Bloomberg television, Arabian Business has reported. According to Kuwait's Global Investment House, Saudi corporates achieved a 26% increase in aggregate net profits (of SR47.5bn) in the first six months 2011.
Source: AME Info
Bahrain Bourse shows signs of life by gaining 0.55%
August 10, 2011--The Bahrain All Share Index (BASI) closed half a percent higher at 1,272.29 points, as a direct reaction to the global rebound at financial markets. Islamic investment bank Gulf Finance House surged four percent to close at $0.13.
Year-to-date, the BASI has lost 11.70%. The Kingdom of Bahrain suffered since spring from massive capital outflows due to social unrest and demonstrations. Financial executives also left the country as e. g. the newly founded Bahrain Financial Exchange's Chief Business Officer Craig Hewett left Manama end of July to join the NASDAQ Dubai as Head of Business Development.
Source: AME Info
Qatar Exchange advances 0.70%
August 10, 2011--Stock advanced across the board in Doha, pushing the QE Index higher by 0.70% to 8,127.54 points.
Insurers were especially strong, as e. g. Doha Insurance (up 2.54% at QR28.30) and Islamic Insurance (1.90% higher at QR53.50) outperformed.
Source: AME Info
Banks, real estate shares push Kuwait bourse up
August 10, 2011--Lifted by relief buying at Asian, European and U. S. exchanges, the KSE Market Index added0.32% to reach 5,900.8 points. National Bank of Kuwait, known as NBK, closed flat at KD1.040.
Gary Dugan, CIO Private Banking at bank Emirates NBD warns investors to stay cautious, despite today's technical rebounds. "In the current climate of fear, markets are likely to trade on technicals meaning that investors will look for key chart supports." The Investors Holding Group surged nine percent to reach KD0.012, while Heavy Engineering and Ship Building lost the most (off 9.77% at KD0.325).
Source: AME Info
Taqa shares soar amid 159% year-on-year Q2 profit increase
August 10, 2011--The Abu Dhabi-benchmark ADX General Index added 0.96% to reach 2,602.50 points. Abu Dhabi National Energy Co., better known as Taqa, jumped 4.27%, finishing at Dhs1.21. Earlier in the day,
Taqa reported a net profit after minority interests increase of 154% year-on-year, totalling Dhs435m for Q2 2011, versus Dhs171m for Q2 2010. Real estate bellwether Aldar Propertis gained 3.42%, closing at Dhs1.20, while Union Cement Co. lost the most, ending at Dhs0.94 (off 8.91%). Around 64m shares were traded, valued at Dhs92.5m.
Source: AME Info
Bahrain Bourse shows signs of life by gaining 0.55%
August 10, 2011--The Bahrain All Share Index (BASI) closed half a percent higher at 1,272.29 points, as a direct reaction to the global rebound at financial markets. Islamic investment bank Gulf Finance House surged four percent to close at $0.13. Year-to-date, the BASI has lost 11.70%.
The Kingdom of Bahrain suffered since spring from massive capital outflows due to social unrest and demonstrations. Financial executives also left the country as e. g. the newly founded Bahrain Financial Exchange's Chief Business Officer Craig Hewett left Manama end of July to join the NASDAQ Dubai as Head of Business Development. [AMEInfo.com]
Source: AME Info
DP World, Depa Ltd. dive over six percent at NASDAQ Dubai
August 09, 2011--The FTSE NASDAQ Dubai UAE 20 Index closed at 1504.51 today, down by 56.28 points, or -3.61%, from the previous close. The negative global sentiment,
which triggered panic sales at some Asian markets, dragged shares of Dubai Ports (DP) World down by 6.12%, closing at $10.89. Interior designer DEPA Ltd. plunged to $0.475 (off 6.86%).
Source: AME Info
Petrochemical shares drag Saudi Stock Exchange down 0.81%
August 09, 2011--The Tadawul lost 0.81% on Tuesday, closing at 6,008.67 points. Sabic, the most liquid share, declined 1.28% to close at the lowest level since March this year at SR96.25.
Trade Union Cooperative Insurance Company plummeted 5.57%, finishing as a top loser at SR21.20.
Source: AME Info
Qatar Exchange has 8,000 points in sight
August 09, 2011-The QE Index declined 1.76% to 8,070.69 points as shares lost across the board.
the QE revealed earlier in the day that the total trading value during the period of 31 July through August 4, 2011 reached QR927.7m.
Source: AME Info
Sharjah banks buck Abu Dhabi market fall
August 09, 2011--The ADX General Index was not immune against further indexes declines worldwide and closed 1.34% lower to 2,577.76 points.
Sharjah-based Dana Gas dived 5.17% to Dhs0.55. Shares of Sharjah Islamic Bank (up. 3.49% at Dhs0.90) and Bank of Sharjah (2.86% higher at Dhs1.80) gained against the trend. Smome 86.18m shares were traded, valued at Dhs121.56m.
Source: AME Info
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