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

Markaz DubaiEgypt are top Performers in February 2014  Join our daily free Newsletter

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



(MENAFN Press) Kuwait Financial Centre "Markaz" recently released its Monthly Market Research report. In this report, Markaz examines and analyzes the performance of equity markets in the MENA region as well as the global equity markets.



Equity markets from the MENA region continued to increase as nearly all indices ended the month on a positive note. Dubai and Egypt led the region rising by 12 and 9 per cent respectively, while Jordan registered the only decline at 2.5 per cent in February.



The S&P GCC index moved up 3.3 per cent in the month of February to close at 127 points. The S&P Pan Arabian Composite LargeMid Cap Index rose by 4.1 per cent to close at 175 points. Abu Dhabi, Bahrain and Qatar recorded returns of over 5 per cent. While overall market liquidity improved in the region, value traded declined in Abu Dhabi, Kuwait and Jordan.



P/E of Jordan remained unmoved, while valuations of the rest of the MENA countries increased. The Dubai index has the highest P/E ratio of 19.6x followed closely by the Kuwait Weighted Index at 18.2x. Jordan, Qatar, Abu Dhabi and Bahrain have dividend yields over 4%. With relatively low P/E values and high dividend yields, Bahrain, Jordan and Abu Dhabi markets might be offering value. Morocco, Saudi Arabia and Qatar have high price-to-book ratios (around 2x), while Jordan and Bahrain have low P/B ratios.





The value traded in the MENA markets rose by 10.5 per cent in February, to USD 55.5billion compared to USD 50.2billion in January. Saudi Arabia and UAE together account for 83 per cent of the total value traded in the MENA region. Bahrain, Jordan, and Morocco together contributed less than 1 per cent to the total value traded in February. Oman and Morocco witnessed the biggest month-on-month increase in value traded at 223 and 146 per cent, respectively



IPO: Shares of Takaful Oman Insurance, constituting a 40 per cent stake worth OMR 4.08million, were listed in the first week of February. The company's share offer was oversubscribed to the tune of five-and-a-half times - four times in the case of retail segment and seven times by institutional investors. The Dubai Financial Market is close to gaining its first new listing since 2009 after Marka, a retailer, announced plans to launch an AED 500million initial public offering that would make it the country's first publicly listed retailer. Marka has already received preliminary approval from the Securities and Commodities Authority (SCA) and is expected to launch the IPO on the DFM as per schedule. 55 per cent stake representing 275 million shares would be offered to the public in an IPO at a price of Dh1 per share. The Saudi Arabian government has planned to sell 15 per cent stake in the country's largest lender, the Jeddah-based National Commercial Bank (NCB), in an IPO. This would be the country's first IPO since 2008. The market regulator's approval for the IPO is expected to be sought in the third quarter of this year



Global equities rallied in February, as the MSCI world index rose by close to 5 per cent. Despite contraction in manufacturing growth in China, emerging markets showed some signs of recovery, as the MSCI EM index ended the month at 966, rising by 3 per cent. The news of strong lending growth in January buoyed the markets, as banks circulated the highest number of new loans in almost four years in January. But this prompted the central bank to drain almost USD 8bn out of money markets, to control lending activity. Emerging markets improved marginally as Shanghai Index rose 0.4 per cent and BSE Sensex (India) grew by 2.3 per cent



IPE Brent declined by 1.6 per cent in the month of February, as energy consumption in the US was down to its lowest level since last June, despite a cold winter. Oil prices continued to remain above USD 100/bbl at month's close, closing at USD 109.1/bbl, despite the drop in value. Gold prices continued to rise, closing at USD 1326 up 6.6 per cent from January close


About Markaz
Kuwait Financial Centre 'Markaz', with total assets under management of over 975 million as of December 31, 2013, was established in 1974 has become one of the leading asset management and investment banking institutions in the Arabian Gulf Region. Markaz was listed on the Kuwait Stock Exchange (KSE) in 1997.

 


MENAFN Press




  MENA News Headlines
 Oct 20 2014 - Saudi stocks buck trend with healthy gainsArab News
(MENAFN - Arab News) Saudi Arabia's benchmark Tadawul All-Share Index bucked the three-day prevailing downward trend and logged a sharp gain of 2.39 percent on Sunday.The index opened with a largely ...

 Oct 20 2014 - Saudi- NCB pledges conversion to Islamic bank after pressure from scholarsArab News
(MENAFN - Arab News) RIYADH: National Commercial Bank (NCB) has responded to criticism of its operations from Islamic scholars by pledging to convert itself into a full-fledged Islamic bank within ...

 Oct 20 2014 - HE Prime Minister Inaugurates Milipol Qatar 2014Qatar News Agency
(MENAFN - QNA) Under the auspices of HH the Emir Sheikh Tamim bin Hamad Al-Thani, HE Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa Al-Thani inaugurated the 10th ...

 Oct 20 2014 - HE Prime Minister Meets Commander of Turkey's Aegean ArmyQatar News Agency
(MENAFN - QNA) HE Prime Minister and Minister of Interior and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa Al-Thani met Monday with Commander of Aegean Army General Abdullah Atay and ...

 Oct 20 2014 - HE Prime Minister Meets Iran's Police ChiefQatar News Agency
(MENAFN - QNA) HE Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa Al-Thani met Monday with Chief of Iran's National Police Forces Commander Ismael Ahmadi and the ...

 Oct 20 2014 - Israeli Forces Arrest Four Palestinians from Bethlehem and HebronQatar News Agency
(MENAFN - QNA) Israeli forces arrested early Monday four Palestinians from Bethlehem and Hebron districts, said security sources. Large Israeli troops raided the town of Taqou‘ to the east of ...

 Oct 20 2014 - 20 million to vacation abroad by 2030Arab News
(MENAFN - Arab News) The number of Saudi vacationers spending their holidays abroad will increase sixfold by 2030 a local study revealed.The study carried out by a company specializing in travel ...

 Oct 20 2014 - Student's death in US: Cousin reveals detailsArab News
(MENAFN - Arab News) Several relatives of Abdullah Alkadi the Saudi scholarship student in the US whose body was found late on Thursday more than a month after he went missing are flying to Los ...

 Oct 20 2014 - King orders free treatment for people with special needsArab News
(MENAFN - Arab News) Custodian of the Two Holy Mosques King Abdullah has instructed the Ministry of Social Affairs to pay the treatment costs of people with disabilities at rehabilitation centers. ...

 Oct 20 2014 - S. Korea's Int'l Airline Traffic Grows 9.12 in Q3Qatar News Agency
(MENAFN - Qatar News Agency) Seoul October 20 (QNA) - South Korea's international airline traffic rose 9.1% from a year earlier in the third quarter partly on a rise in the number of flights to and ...

more...


 






Google

 
 

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