ME Markets.
The Saudi stock market retreated substantially last week for the first time in several weeks. The Tadawul All Shares Index (TASI) shed 3.9 percent in the week ending Thursday to close at 14,272.97 points from 14,858.35 points in the previous week.
http://www.gulfbase.com/site/interface/NewsArchiveDetails.aspx?n=17595
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Arab stocks still bullish despite corrections
(DPA)
10 September 2005
AMMAN ? Surging oil prices and optimistic expectations of third quarter results mean Arab stocks continue to provide promising investment outlets despite occasional profit-taking moves that help to refuel demand for regional shares, financial analysts said yesterday.
They expected demand to focus in the coming weeks on blue chip firms with outstanding profit records, particularly oil-related industrial companies.
"I believe attention of investors in the coming weeks to focus on blue chip firms with high returns, particularly industrial businesses," Wajdi Makhamreh, director of investments and head of brokerage at the Jordan Finance & Investment Bank, told Deutsche Presse-Agentur dpa.
"Soaring oil prices are beneficial to all markets in the region including non-oil countries. This will give rise to huge surplus petrodollars that seek investment opportunities in regional bourses," he said.
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Saudi Stock Index Jumps by Over 400 Points
11/Sep/2005
Arab News
Over 4.73 percent increase in the Industrial index sent the Saudi stock market soaring yesterday after a drop of 3.9 percent last week. The Tadawul All Shares Index jumped by 402.32 points or 2.82 percent to close at 14,675.29. The Industrial index closed at 38,653.55, up 1,744.38 points.
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Khaleej Times Online >> News >> BUSINESS
UAE stock indices close lower
BY A STAFF REPORTER
11 September 2005
DUBAI ? Leading UAE stock indices closed lower yesterday as the market pivotals including Emaar, Amlak, Dubai Islamic Bank, Abu Dhabi Commercial Bank and Emirates Bank shares closed lower.
The UAE market benchmark National Bank of Abu Dhabi Index slipped149 points to close at 17,572 points. While the underlying banking and service sector subindices were down by 110 points and 255 points, respectively, the insurance subindex gained marginally by 33 points. The DFM index slipped 1.2 per cent to 1117.9 points.
The overall market turnover was down by more than 28 per cent at Dh2.8 billion. The Dubai Financial Market traded more than 165 million shares worth Dh917 million. In the service sector, Emaar scrip slipped by 2.7 per cent to close 70 fils down at Dh24.55. Amlak was down by 20 fils while Shuaa and Arabtec shares posted modest gains. Tabreed gained over 4 per cent while the Union Properties share closed 18 fils up at Dh7.94.
The banking sector transacted more than 6.9 million shares with Dubai Islamic Bank counter accounting for more than 98 per cent of the market volumes.
The DIB scrip closed 40 fils down at Dh31.40. While the Commercial Bank of Dubai share slipped Dh1.60, the Emirates Bank share slipped 40 fils to close at Dh52.55.
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In the last three months, Indians have bought more than 275 tons of gold. This is the highest ever offtake both in volume and rupee terms.
That even beats the gold craze which swept the country after liberalization in 19'98. And it is the same disposable income that is chasing property across the country as the Indian families put their faith firmly in concrete physical assets.
Compared to the first six months of 2004, India's gold purchases are up by more than half, says leading independent precious metals consultancy, GFMS. Jewelry purchases in tonnage was up by more than 40 percent.
http://www.saudigazette.com.sa/sgazette/Data/2005/9/11/Art_261342.XML
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Kuwaiti shares surged past the 10,000-point mark for the first time at the end of trading Tuesday on the back of optimistic economic indicators in the Gulf state.
The Kuwait Stock Exchange (KSE) Index finished trading at 10,023.50 points, up 0.7 percent on Monday's close of 9,950.80 points. The index is now 56.4 percent above its 2004 close of 6,409.50 points.
It has so far gained 2.1 percent on last week's close of 9,819.00 points.
http://www.saudigazette.com.sa/sgazette/Data/2005/9/14/Art_262494.XML
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Visa sida
Ogilla! 2
Gilla!
UAE shares are expected to make further gains this week after hitting record highs on Wed-nesday with liquidity plentiful and sentiment boosted by expectations of strong third-quarter results, traders said.
Dubais share index jumped 5.71 per cent last week to 1,131.51 points with market heavyweight Emaar rising 12.7 per cent to Dh25.25 as investors built up positions ahead of its third-quarter results due in October.
Abu Dhabi stocks rose 1.65 per cent to 5,335.41 helped by banks and Oasis International Leasing.
"The market will do well in the next couple of weeks. Investors are bullish on the results and almost all the rights issues are over with the exception of Amlak ? so the liquidity issue is really behind us," said a top equity dealer.
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