Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Dubai shares slip most since March  Join our daily free Newsletter

MENAFN - Khaleej Times - 12/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Arabtec holding the biggest listed builder in the uae lost the most in more than a year as it was cut to hold from buy at naeem holding.

dubai’s benchmark index fell the most in two months as investors sold shares before msci inc names constituents of its emerging markets index this week. abu dhabi’s measure also retreated.

the dfm general index tumbled 3.1 per cent the steepest drop since march 12 to 5138.86 at the close in dubai. arabtec holding the biggest listed builder in the uae lost the most in more than a year as it was cut to hold from buy at naeem holding.

union properties pjsc fell 6.8 per cent the steepest retreat since august. abu dhabi’s adx general index declined 1.1 per cent while qatar’s qe index rose 0.3 per cent. msci whose indexes are tracked by investors managing about 8 trillion in assets will on may 14 announce the companies and weightings of its emerging markets gauge. the upgrade for stock markets in the uae and qatar will take effect from june. dubai’s benchmark surged 53 per cent this year making it the best-performing gauge among more than 90 tracked by bloomberg. it gained 4.4 per cent last week. arabtec which helped build the world’s tallest tower in dubai tumbled 9.2 per cent to dh6.13. union properties declined to dh2.48. emaar properties the stock with the strongest weighting on dubai’s measure fell two per cent to dh9.95. eshraq properties co. was the the most traded stock and the steepest decliner on abu dhabi’s gauge decreasing 9.4 per cent the most on record to dh1.84.

egypt’s benchmark egx30 index rebounded from the biggest drop in a month adding 0.2 per cent. efg-hermes holding sae rose 1.5 per cent to 13.25 egyptian pounds the highest close since march 26 after completing its divestment plan for six of october development & investment.

saudi arabia’s tadawul all share index fell 0.2 per cent bahrain’s measure lost 0.3 per cent oman’s retreated 0.7 per cent and kuwait’s gauge was little changed.

changes trading session

dubai financial market (dfm) will introduce a pre-closing period to its trading sessions from may 14 that will make closing prices more predictable and eliminate large last-minute swings the bourse said on sunday.

dfm said the move was timed to come ahead of the inclusion of the uae in the list of emerging markets by index compiler msci at the end of this month which is expected to bring more foreign investors to the market. under the new rule orders submitted within the last 10 minutes of trading 1350 to 1400 local time (0950-1000 gmt) will accumulate for completion at closing.


 


Khaleej Times




  MENA News Headlines
 Dec 26 2014 - Russia hopes to host Syria talks in JanuaryThe Peninsula
(MENAFN - The Peninsula)  -Russia plans to host delegations from the Syrian opposition in late January, possibly followed by a visit by regime representatives that could bring the two sides together ...

 Dec 26 2014 - Lebanon's Hezbollah detains 'Israeli spy' in its ranksThe Peninsula
(MENAFN - The Peninsula)  Lebanon's Hezbollah has detained a senior party official it accused of spying for Israel and "sabotaging security operations" abroad, a source close to the movement said on ...

 Dec 26 2014 - Syrian rebel groups in Aleppo enter allianceThe Peninsula
(MENAFN - The Peninsula)  Rebel groups fighting in Syria's northern Aleppo province have agreed to form an alliance, a group monitoring the country's civil war said on Thursday.A lack of unity among ...

 Dec 26 2014 - Israel approves 243 new settler homes in East JerusalemThe Peninsula
(MENAFN - The Peninsula)  Israel has given preliminary approval for the construction of 243 new homes on West Bank land that Israel annexed to Jerusalem, and advanced plans for another 270 homes in ...

 Dec 26 2014 - Iraq, Turkey pledge to join hands to fight ISIS jihadistsThe Peninsula
(MENAFN - The Peninsula)  Iraq and Turkey on Thursday pledged to join forces to fight Islamic State insurgents who are holding swathes of Iraq and Syria."ISIS threatens not only Iraq's and Turkey's ...

 Dec 26 2014 - Tunisia arrests blogger for 'defaming' army officers: lawyerThe Peninsula
(MENAFN - The Peninsula)  Tunisian authorities have arrested a blogger who has been critical of the party of newly elected president Beji Caid Essebsi, as he returned home from France, his lawyer ...

 Dec 26 2014 - Qatar- Zakat Fund got 575 applications in November for aidThe Peninsula
(MENAFN - The Peninsula)  The Zakat Fund at the Ministry of Awqaf and Islamic Affairs received 575 applications for social assistance in the month of November.Zakat Fund, a charity dedicated to ...

 Dec 26 2014 - Kuwait commissions new gas processing plantThe Peninsula
(MENAFN - The Peninsula)  Kuwait has commissioned a new natural gas plant that will raise the energy-rich state's production capacity to more than 2 billion cubic feet a day, officials said on ...

 Dec 26 2014 - Egyptian pound steady on official and unofficial marketsThe Peninsula
(MENAFN - The Peninsula)  The Egyptian pound held steady at a central bank dollar sale on Thursday and on the black market.The bank offered $40 million and said it had sold $38.2 million at a cut-off ...

 Dec 26 2014 - Saudi lifts spending in 2015 budgetThe Peninsula
(MENAFN - The Peninsula)   Saudi Arabia will lift state spending to a record in its 2015 budget while covering a deficit with its huge fiscal reserves, the government said, providing the first ...

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