Quotes: 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


 


The Peninsula




  MENA News Headlines
 May 29 2015 - Palestinian Man Dies of WoundsQatar News Agency
(MENAFN - QNA) Palestinian medical sources announced the death of a 55- year-old Palestinian man Said Annadi from Jabalia refugee camp in the northern Gaza Strip of serious wounds suffered in the ...

 May 29 2015 - Syrian opposition groups take over Idlib from gov't forcesKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) A group of Syrian opposition groups have assumed control of the town of Ariha in the northwestern Idlib province after fierce fighting with government forces, ...

 May 29 2015 - Qatar announces death of coronavirus-infected nationalKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Supreme Council of Health (SCH) has announced that the death of a 73 year-old national after being infected by the Middle East respiratory syndrome ...

 May 29 2015 - Twin blasts rock "tightly guarded" Baghdad hotels: 10 killed, 28 woundedKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) At least 10 people have been killed and another 28 wounded in dual explosions that hit two hotels in Baghdad.An explosives-strapped car drove through the Sheraton ...

 May 29 2015 - Bahrain announces arrest of terror suspectKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Bahraini Interior Ministry announced Thursday the arrest of a fugitive terrorist and the confiscation of a large quantity of weapons in a warehouse in ...

 May 29 2015 - EU seeks stronger energy cooperation with GCC - officialKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) A top EU energy official has stressed that the 28-member European bloc is keen in boosting its energy cooperation with the six-member Gulf Cooperation Council ...

 May 29 2015 - UN has failed to protect civilians in conflicts - Ambassador Al-OtaibiKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Disputes among UN permanent member states is aggravating civilians' suffering and causing violations of human rights, said Kuwait's Permanent Delegate to the UN ...

 May 29 2015 - His Highness the Amir of Kuwait congratulates Nepal on National DayKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah sent on Thursday a congratulatory cable to the President of the Federal Democratic Republic of Nepal ...

 May 29 2015 - Kuwaiti FM meets visiting counterpartsKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) First Deputy Prime Minister and Minister of Foreign Affairs Sheikh Sabah Khalid Al-Hamad Al-Sabah met with Turkmenistan's Deputy Prime Minister and Foreign ...

 May 29 2015 - His Highness the Kuwaiti Amir congratulates Ethiopia on National DayKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah sent on Thursday a congratulatory cable to President of the Federal Democratic Republic of Ethiopia ...

more...


 






Google

Arab Advisors_12th convergence conf

 
 

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

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
Economic Calendar
Financial Glossary


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


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help