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Tasi sees slight gain
Saudi Arabia's Tadawul index gained 0.24% today to close on 6,253. Saudi Arabia Refineries was the day's big gainer, up 9.71% to 56.50 riyals. Saudi Arabian Cooperative Insurance Company had the biggest loss, down 3.79% to 82.50 riyals. Overall, 47 stock rose and 70 declined.
ADX ends flat
The Abu Dhabi Securities Exchange ended flat today, with the index down just one point to close on 2,967. The real estate sector was the most positive, up 2.41%, while the consumer sector fell the most, down 2.65%. Overall, 16 stocks gained, 15 declined, and four were unchanged.
DFM rises 1.65%
The Dubai Financial Market gained 1.65% today to close on 2,205, led by market heavyweight Emaar, which climbed 3.16% to Dhs4.57. The day's big gainer was Shuaa Capital, up 3.68% to Dhs1.97. Gulf Finance House had the biggest loss, down 5.13% to Dhs1.48.
Qatar plans second sovereign bond issue
Qatar plans to issue a second sovereign bond as it seeks to raise more funds amid optimism about its fast-growing economy, Financial Times has reported. The bond issue could target as much as $5bn, depending on demand, with initial soundings of interest proving 'very positive' before a roadshow over the next week or so, bankers said. Qatar National Bank, Barclays, Credit Suisse, Goldman Sachs and JPMorgan have been appointed by the country's ministry of finance to run the issue.
Global sukuk sales rise 40%, Moody's says
Moody's Investors Service has said that Islamic bond issues worldwide had increased 40% in the 10 months to October, compared with the same period a year earlier, Bloomberg has reported. The introduction of sukuk funds by asset management houses will encourage more trading of Islamic bonds in secondary markets whereby 'investors, including banks, can price their Sukuk fairly, enhancing both liquidity and secondary market tradability', Moody's said.
Saudi index dips slightly
Saudi Arabia's Tadawul Index fell 0.59% today to close on 6,238, led by the industrial investment sector, which dipped 1.34%. Jazan Development was the day's big gainer, up 5.86% to 12.70 riyals. Overall, 94 stocks fell while 22 gained.
Real estate stocks lead ADX rise
The Abu Dhabi Securities Exchange gained 0.66% today to close on 2,968, led by the real estate and energy sectors, which rose 3.02% and 1.72%, respectively. Aldar rose 3.81% to Dhs5.76 and Taqa gained 2.92% to Dhs1.42. Overall, 21 stocks gained, 10 declined, and three remained unchanged.
DFM sees slight gain
The Dubai Financial Market rose 0.74% today to close on 2,169. Market heavyweight Emaar climbed 2.31% to Dhs4.43, while Global Investment House led all gainers, rising 5.7% to Dhs1.46. Overall, 13 stocks gained, 11 declined, and five were unchanged.
Egypt's inflation rises to 13.3%
Egypt's inflation rate has risen for a second month in a row, official figures show. Urban inflation, the benchmark that the central bank monitors, climbed to 13.3% in October from 10.8% the month before, the Cairo-based Central Agency for Public Mobilization and Statistics said today on its Web site. Urban prices increased 2.2% in the month.
Abu Dhabi looks to private sector for economic growth
The private sector will play a critical role in the future economic development of Abu Dhabi, as it moves towards the implementation of its plan 2030. Speaking today at the Meed Abu Dhabi Conference in Emirates Palace HE Nasser Al Sowaidi, Chairman of the Department of Economic Development (DED) - Abu Dhabi, said that the emirate was opening the door to the private sector and wanted to see its contribution to GDP rise.
ONIC posts $15m Q2 profit
Oman National Investment Corporation Holding (ONIC) has reported a net profit of RO5.7m ($15m) in the second quarter of its financial year, Reuters has reported. ONIC, whose financial year starts on April 1, had recorded a net loss of RO2.8m in the same period last year, the firm said in a statement.
Kuwait's half-year budget surplus hits $17.5bn
Kuwait's finance ministry has reported a preliminary budget surplus of KD4.99bn ($17.5bn) in the first six months of the fiscal year through March 2010, thanks to larger than expected oil revenue, Bloomberg has reported. Government revenue fell 43% to KD8.22bn, while spending amounted to KD3.23bn, the ministry said. The government had forecast a budget deficit of KD4.8bn for the fiscal year, based on an oil price of $35 a barrel.
Saudi index rises 0.27%
Saudi Arabia's Tadawul index rose 0.27% today to close on 6,272, led by the insurance sector, which climbed 1.84%. Anaam Holding was the day's big gainer, up 9.93% to 74.75 riyals, followed by Al Ahlia Insurance, which gained 9.68% to 102 riyal. Overall, 69 stocks rose while 40 fell.
ADX sees slight gain
The Abu Dhabi Securities Index had a slight gain of 0.24% today, even though there were almost twice as many decliners as gainers. The health care and industrial sectors led the way, rising 3.98% and 3.60%, respectively. Overall, 17 stocks declined, ten rose, and six remained unchanged.
DFM rises, led by Emaar
The Dubai Financial Market rose 1.44% today to close on 2,153. The day's most heavily traded stock, Emaar, climbed 2.85% to Dhs4.33. Other big gainers included Union Properties and Arabtec, which rose 4.17% and 2.90%, respectively. Overall, 23 stocks ended higher, 6 fell, and one remained unchanged.
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