GCC Stock Markets Daily
Panic in the Gulf after international markets dip
- A state of panic prevailed at Gulf stock markets after a sharp decline was seen by the major international exchanges. All seven Gulf markets declined today. The sharp decline witnessed by the American and European markets, after a number of international banks and institutions announced that they would write-off new debts.
- Middle East: Tuesday, July 29 - 2008 at 22:22
Maaden jumps 60% in its first day of trading
- Maaden shares have jumped 60% in the first day of trading, while the Saudi market itself declined sharply today, falling 1.6% under pressure from most leading shares. Other Gulf markets showed mixed results including Kuwait, Bahrain and Dubai which rose by 0.57%, 0.42% and 0.27% respectively.
- Middle East: Monday, July 28 - 2008 at 20:17
Mixed results for leading Gulf shares after H1 profits
- A general decline swept across all Gulf markets today except Kuwait, which rose slightly in the last few minutes of trading by 0.16%. The rise in Kuwait came despite many leading firms announcing a decline in their H1 profits, including Zain, Kamco and Kuwait Properties.
- Middle East: Sunday, July 27 - 2008 at 20:58
Telecom shares lead Saudi market
- Three Saudi telecom companies - Zain, STC and Mobily - registered record rises yesterday on the Tadawul, despite the decline on the general index by 0.64%. Trading value on the index was SR6bn, including SR980m for Zain alone.
- Saudi Arabia: Sunday, July 27 - 2008 at 09:19
Dubai biggest market winner, Muscat biggest loser
- Dubai Financial Market (DFM) ended the week up 4.1%, having gained 3% today and topped all Gulf markets. The Tadawul, which closed trading yesterday, had the second biggest gain of the week, with a 2.5% rise, followed by Abu Dhabi at 2.3%, Doha at 1.4%, and Kuwait at 0.54%.The Muscat market declined 1.1% for the week, followed by Bahrain at 0.50%.
- Middle East: Thursday, July 24 - 2008 at 19:56
Liquidity saves Emaar and pushes DFM up 3%
- Foreign liquidity saved Emaar's share today, which had plunged below Dhs10, pushing the Dubai Financial Market (DFM) up by 3%, its highest point in three months. Emaar's share rose 5.4%, its highest since the beginning of the year. Trading value on the index jumped 150% to reach Dhs2bn, from Dhs812m yesterday, indicating that external factors were at play.
- Middle East: Wednesday, July 23 - 2008 at 18:50
Lack of liquidity behind GCC stock fluctuations
- Fluctuations continued today at Gulf financial markets after most listed firms had announced their H1 profits. Three stock markets rose, including Doha, Dubai and Saudi Arabia by 0.60%, 0.18% and 0.13% respectively. The remaining markets fell amid weak trading volume and value.
- Middle East: Tuesday, July 22 - 2008 at 19:59
Portfolios managers focus on strong H1 profits
- Fund managers have started to re arrange their portfolios in light of the profits posted by companies on the Gulf's stock markets, setting the course for share performance for the rest of the year. Portfolio managers said the good results showed strong growth, giving foreign and local funds focus for their priority sectors.
- Middle East: Monday, July 21 - 2008 at 19:56
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