Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Markaz Kuwait, KSA and Dubai markets register gains for March  Join our daily free Newsletter

MENAFN Press - 10/04/2014
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 were wobbly as most indices ended the month on a negative note. Dubai, Saudi Arabia and Kuwait markets ended on a positive note as the former market rose by 5.5 per cent, buoyed by the performance of banking and property stocks.



The S&P GCC index moved up 3.1 per cent in the month of March to close at 131 points. The S&P Pan Arabian Composite LargeMid Cap Index rose by 3.9 per cent to close at 182 points. While overall market liquidity improved in the region, value traded declined in Abu Dhabi, Oman and Dubai.



P/E of Jordan remained unmoved, while valuations of the rest of the MENA countries changed. P/E of Dubai, Abu Dhabi and Oman witnessed a steep drop in the month of March. Despite which the Dubai index has the second highest P/E ratio of 18.2x, bested only by the Kuwait Weighted Index at 18.5x. Bahrain, Jordan, Qatar, and Oman 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 13.4 per cent in March, to USD 63billion compared to USD 55.5billion in February. Saudi Arabia and UAE together account for 73 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 March. Kuwait, Saudi Arabia and Egypt witnessed the biggest month-on-month increase in value traded at over 30 per cent each respectively



IPO: Gulf Marine Services and Mesaieed Petrochemical Holding Company were listed in the London Stock Exchange and the Qatar Stock Exchange on the 19th of March and the 26th of February of 2014. The former issued 122,735,402 shares, representing a 35.11 per cent stake, for GBP 165.7mn. While the latter issued 323,190,000 shares, representing a 25.7 per cent stake, for QR 3,296.5mn



Global equities maintained level in March, as the MSCI world index dropped a point to close at 1674. Despite the manufacturing PMI in China falling to an 18-month low of 47.3, emerging markets continued to rise, as the MSCI EM index ended the month at 995, rising by 3 per cent. Mixed results were seen in China and India as the Shanghai index fell by 1.1 per cent, while the BSE Sensex (India) rose by 6 per cent in the month of March, due to lower inflationary pressures. Unemployment in Japan fell to its lowest in six years, while consumer price inflation rose for a ninth consecutive month, increasing to 1.3 per cent in February, still below the 2 per cent target. Nikkei Index closed the month at 14,828 points, falling 0.1 per cent from February



IPE Brent continued to slide in the month of March, posting a drop of 2.7 per cent for the first quarter of 2014, as manufacturing sector in China, the world's largest energy consumer, continued to worry investors. Oil prices continued to remain above USD 100/bbl at month's close, closing at USD 107.76/bbl, despite the drop in value. Gold prices witnessed a 3.2 per cent slide in March, closing at USD 1284 down from USD 1326 in February



Weaker consumer spending data, durable goods orders in February coupled with interest rate uncertainty, led to a tepid rise of 0.7 per cent in the S&P 500 index. Fed chairwoman Janet Yellen had suggested that rates will rise six months after tapering of the Fed's monthly asset purchase programme is completed, which indicates that rates will begin to rise around May 2015. Investors moved away from growth stocks to value stocks as domestic economic outlook remains unclear


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
 Aug 2 2015 - Kuwait- Govt Cybersecurity ImprovingArab Times
(MENAFN - Arab Times) US federal agencies have increased cybersecurity measures since the hacking at the Office of Personnel Management, but more work is necessary to help prevent further attacks, ...

 Aug 2 2015 - UK- Three Bin Ladens Killed In Jet CrashArab Times
(MENAFN - Arab Times) Three relatives of the late al-Qaeda leader Osama bin Laden were among four people killed when a private jet crashed on landing in southern England, British police confirmed ...

 Aug 2 2015 - Iraqi Kurds Urge PKK To WithdrawArab Times
(MENAFN - Arab Times) Turkey has killed 260 Kurdish militants in a week-long air offensive on targets in northern Iraq, official media claimed Saturday, as regional Iraqi authorities said it was time ...

 Aug 2 2015 - Tested At Hard Times, Kuwaitis Remain TogetherArab Times
(MENAFN - Arab Times) Kuwaitis have succeeded in staying together and maintaining national unity at hard times, when their keenness on the solidarity appears much stronger, thus setting an example to ...

 Aug 2 2015 - Kuwait- Some KPA Members Refuse To Sign Minutes Of MeetingArab Times
(MENAFN - Arab Times) In the last few days, the board of Kuwait Pharmaceutical Association (KPA) has been witness to arguments among its members after several board members refused to sign the ...

 Aug 2 2015 - Kuwait Condemns Israeli Arson AttackArab Times
(MENAFN - Arab Times) The State of Kuwait condemned strongly the "heinous crime" committed by Israeli extremists who torched the village of Duma, south of Nablus in the West Bank, earlier Friday.The ...

 Aug 2 2015 - Kuwait- 'Cuts In MoE Could Hurt Constructional Projects'Arab Times
(MENAFN - Arab Times) Assistant Undersecretary for Financial Affairs Sector at Ministry of Education Yousef Al-Najjar insists that reducing the budget will negatively affect the ministry's ...

 Aug 2 2015 - Kuwait- Assessing Need For Expat Workers Has Positive Effect On The MarketArab Times
(MENAFN - Arab Times) Evaluating the need for foreign workers affects the labor market and the population structure positively, Minister of Social Affairs and Labor and Minister of State for Planning ...

 Aug 2 2015 - North Iraq asks PKK to go amid Turkish strikesGulf Times
(MENAFN - Gulf Times) Turkey has killed 260 Kurdish militants in a week-long air offensive on targets in northern Iraq, official media claimed yesterday as regional Iraqi authorities said it was time ...

 Aug 2 2015 - Kerry sets off on Mideast trip to Egypt, DohaThe Peninsula
(MENAFN - The Peninsula) US Secretary of State John Kerry left for Egypt for cooperation talks and to Qatar, where he hopes to ease Gulf countries' concerns about the Iran nuclear deal.The trip, ...

more...


 






Google

Click to Apply

 
 

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