Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar, UAE markets gain strength  Join our daily free Newsletter

MENAFN - The Peninsula - 04/03/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) GCC equities got off to a flying start in the first two months of 2014, with Qatar and the UAE markets showing substantial strength.



Dubai and Abu Dhabi's stock indices appreciated by 24.17 percent and 15.2 percent respectively, on a very high turnover, and led largely by retail participation. Qatar rallied 13.41 percent year to date and due to buying by foreign institutional investors



The GCC equity markets performed strongly in 2013, with the S&P GCC Price Index increasing by 24.6 percent. The equity markets of Dubai and Abu Dhabi were the star performers, growing 108 percent and 63 percent respectively. The stellar returns of 2013 are, however, unlikely to be repeated this year; with the bull market no longer able to thrive solely on the back of an expansion in stock multiples, latest SICO report noted.



There are some important themes playing out, which will have an impact on GCC equities. These include the recently-introduced labour regulations in Saudi Arabia; the impact of the Expo 2020 award to Dubai, the FIFA World Cup 2022 to Qatar; the UAE and Qatar's upgrade to emerging markets status by MSCI; and the possible merger of the DFM and Abu Dhabi indices.



Nishit Lakhotia, Head of SICO Research commented: "We are maintaining our Brent crude price assumption at 100 per barrel for 2014. We expect oil prices to remain firm in the first half of the year on the back of supply outages in Libya, South Sudan and Nigeria and strong North American demand; although a weakness cannot be ruled out during the second six months of 2014. At this level, we expect all GCC economies, save for Bahrain and Oman, to post surplus budgets for 2014, albeit with lower surpluses."



The report notes that regional IPO activity improved in 2013, with 11 companies listing, including two UAE companies on the London Stock Exchange, compared with nine companies in 2012. Listings so far this year include 'Takaful Oman Insurance' on the Muscat Securities Market in February; and the 'Saudi Marketing Company' on Tadawul the same month. 'Mesaieed Petrochemical Holding's' offering in January, which was oversubscribed six times


 






  MENA News Headlines
 Jul 24 2014 - Kuwait- His Highness the Crown Prince receives senior officialsKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah received, at Seif Palace on Wednesday, former National Assembly Speaker Jassem ...

 Jul 24 2014 - Kuwait oil up 87 cents to USD 105.65 pbKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The price of Kuwaiti crude oil went up 87 cents to USD 105.65 per barrel (pb) on Tuesday against USD 104.78 pb the day before, the Kuwait Petroleum Corporation ...

 Jul 24 2014 - Kuwait invests USD 17 bln in environmental fuel projectKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Kuwait is investing over USD 17 billion (KD 4.6 billion) to develop oil refineries as part of the "environmental fuel" project to be launched in 2018.The project, ...

 Jul 24 2014 - Saudi PIF to establish new companiesMENAFN
(MENAFN) Saudi Arabia's Public Investment Fund (PIF) plans to invest in establishing new companies of several sectors, mainly housing, petrochemicals, and technology as part of its plan to expand ...

 Jul 24 2014 - Kuwait- Al-Ghanim urges parliaments to work together on stopping Israeli aggressionKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Arab Inter-Parliamentary Union (AIPU) chief Marzouq Al-Ghanim called on international parliaments, particularly those from Security Council permanent member ...

 Jul 24 2014 - Kuwait- His Highness the PM receives "Journey of Hope" membersKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah received at Seif Palace Wednesday Head of the "Journey of Hope", Advisor at the ...

 Jul 24 2014 - Kuwait- His Highness The Amir receives several Islamic scholars, ministerKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah received the Minister of Information and State Minister for Youth Sheikh Salman Sabah Salem ...

 Jul 24 2014 - Kuwait invests 17 bln in environmental fuel projectArab Times
(MENAFN - Arab Times) WAIT CITY July 23 (KUNA): Kuwait is investing over $17 billion (KD 4.6 billion) to develop oil refineries as part of the 'environmental fuel' project to be launched in 2018. The ...

 Jul 24 2014 - No dream job: Khartoum's walking department storeArab News
(MENAFN - Arab News) The Sudanese man with an armful of battery-powered wall clocks pushes one through the taxi's open window. His head follows.'For you a good price" he tells the passenger. 'How ...

 Jul 24 2014 - Saudi- Al-Athr showcases abstract and geometry inspired works of artArab News
(MENAFN - Arab News) Jeddah's Al-Athr Gallery is hosting the abstract and geometry inspired work of 40 local and international artists until Oct. 10.The gallery opened its door in 2009 and has ...

more...


 






Google

Live Currency Rates

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help