Middle East ETF News Older than One Year
Lacklustre trading drags Abu Dhabi market down
December 7, 2010--The market in Abu Dhabi, the ADX, dipped 0.34% to close at 2,740.11 on Tuesday. A number of blue chips in Abu Dhabi ended unchanged, such as Aldar (flat at Dhs2.29), Sorouh Real Estate (even at Dhs1.68) or Dana Gas (unchanged at Dhs0.74).
Banks headed mostly lower, such as National Bank of Abu Dhabi (down 1.63% at dhs12.05) or National Bank of Umm al-Qaiwain (off 9.48% at Dhs2.09).
Source: AME Info
Qatar's Barwa Real Estate hits new 2010 high
December 7, 2010--The Qatar Exchange (QE) in Doha gained 1.11% to reach 8,625.42. Shares of Barwa Real Estate jumped 3.86% to close at a new 2010 high at QR37.70. United Development Company, known as UDC and developer the lifestyle-island Pearl Qatar, also extended its rally,
suring 5.26% too QR28). Real estate share became hot stocks after the FIFA decided last Thursday that Qatar will host the World Cup in 2022.
Source: AME Info
DP World shares weaken 0.66%
December 7, 2010--The FTSE NASDAQ Dubai UAE 20 Index closed at 1838.460 today, up 15.940, or 0.87%, from the previous close. DP World ended 0.66% lower at $0.599.
No other shares were traded. The Nasdaq Dubai suffered a setback on late Monday, when Axiom Ltd. announced to cancel its planned IPO at the exchange. The first listing day was expected to take place on Thursday, December 9th.
Source: AME Info
Tadawul exchange gains half a percentage point
December 7, 2010--The Saudi Arabian index Tasi closed 0.56% higher at 6,436.64 points. The Kingdom's largest petrochemical firm by production capacity and market capitalisation Sabic ended close to its year high at SR105.50 (up 2.18%).
Tourism Enterprise Co., also known as Shams (arab. Sun) posted the largest declined, closing 5.42% lower at SR23.55.
Source: AME Info
UAE econ min hopes to rejoin Gulf single currency - paper
December 6, 2010--The United Arab Emirates hopes it and Oman will rejoin a planned Gulf single currency project one day, UAE economy minister was quoted as saying by a Saudi newspaper on Sunday, ahead of a Gulf rulers summit this week.
Rulers from Gulf Arab countries will meet in UAE capital Abu Dhabi on Dec. 6-7 to discuss political, security and financial issues affecting the world's top oil exporting region.
"The Emirates still hope that there will be a single currency for the countries of the (Gulf Cooperation) Council one day," Sultan bin Saeed al-Mansouri told Saudi newspaper Al-Eqtisadiah.
Source: Reuters
Union National Bank gains despite MSCI exclusion
December 6, 2010-The Abu Dhabi market ADX added 0.14% to finish at 2,749.42 points. Shares of Union National Bank (UNB) surged 3.50%, closing at Dhs3.21. UNB was excluded from MSCI Barra's United Arab Emirates Index "due to low liquidity",
The National reported on Sunday, citing an unidentified MSCI spokesman. UNB announced today, on the other hand, that it has received approval from the Central Bank of Kuwait to open a branch in the Northern Gulf state. The oil and gas-bellwether Taqa ended 3.31% lower at Dhs1.46.
Source: AME Info
Kuwait bourse ends unchanged
December 6, 2010--While banks overall gained value at the Kuwait market KSE, weak performing real estate shares weighed on the KSE Price Index, closing 0.03% higher at 6,867.7 points.
Dar Al Thuraya Real Estate Co. bucked the sector trend and jumped 10.41% higher to reach KD0.0265. Kuwait achieved a budget surplus of KD5.6bn in the first seven months of the fiscal year which ends in March 2011, Gulf News reported.
Source: AME Info
Qatar Exchange rises 0.63%
December 6, 2010--The QE Index did not continue the rally from Sunday as it added 0.63% to close at 8530.63. Shares of Qatar Telecom, one of the mains sponsors of the 2006-held Asian Games in Doha,
gained 0.55% to close at QR182.50. Qatar National Bank gained 1.58% to finish at QR186.50.
Source: AME Info
DP World shares gain on high volumes
December 6, 2010--FTSE NASDAQ Dubai UAE 20 Index closed at 1822.520 today up 1.53%, from the previous close.
DP World added 0.67% to reach $0.603 as over 22m DPW shares changed hands. Interior designer Depa Ltd. gained 0.83%, closing at $0.725.
Source: AME Info
Tadawul market dips insignificantly
December 6, 2010--The Saudi Stock Exchange ended 0.04% lower at 6,400.8 points. Red Sea Housing posted the largest decline, closing down 2.88% at SR50.50. Saudi Printing & Packaging Company, which lost over a quarter of its value year-on-date, gained 2.88% to finish at SR12.35.
More than a fifth of all 1545 traded shares ended unchanged, while 45 stocks gained and 69 shares declined.
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