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

Dubai market falls on selling   Join our daily free Newsletter

MENAFN - Bahrain Tribune - 31/05/2006

No. of Ratings : 0
Add to Mixx!


 


Even though gainers outnumbered losers among the GCC markets, the momentum of the recent past was interrupted yesterday. The Saudi market led the advancers, rising a little over 1 per cent in its forenoon session, trailed by the Kuwaiti, Abu Dhabi and Bahraini bourse - none of which ascended more than 1 per cent. Heightened selling dunked the Dubai market by nearly 2 per cent; while the Qatari and Omani markets also sank below the centreline.
Bahrain
Strength in the Banking sector lifted the Bahraini market marginally, even as the Insurance and Investment sectors displayed marked weakness. Bahrain Saudi Bank and Nass Corp added 4 per cent and 3 per cent, respectively. Meanwhile, Bahrain Commercial Facilities slipped 5 per cent on selling pressure.
Oman
The Omani market ended in the red once again, depressed by fragility in the Banking and Services sectors. While Oman Aviation hit the 10 per cent lower limit, Oman Chromite lost another 6 per cent on sustained selling. On the brighter side, Alliance Housing Bank was locked at the 10 per cent upper limit.
Kuwait
Buoyed by upsurges in the Services, Investment and Industrial sectors, the Kuwaiti market marginally extended profits. Contracting & Marine Services and Jeezan Real Estate surged 9 per cent each, while Kuwait-Lebanese Real Estate added another 7 per cent on top of Monday's 8 per cent. However, Coast Investment & Development and Palms Agro shed 5 per cent each.
Saudi
Largely aided by buying across key sectors, the Saudi bourse closed its forenoon session at the forefront of the winners in the region. Taiba Investment jumped more than 9 per cent, followed by a 7 per cent rise in both National Agri Marketing and Yanbu Cement.
Qatar
The Qatari market lost ground after leading the gainers in the last three sessions. Weakness was seen in the Industrial, Insurance and Services sectors. National Cement, National Leasing and Medical Care lost 4 per cent each. On the positive side, Doha Bank and Qatar Navigation added between 4 per cent and 5 per cent each.
Dubai
Further selling across major sectors pushed the Dubai market into the red, closing as the biggest loser in the region. The market breadth was extremely weak, with losers outnumbering gainers 3:1, and volumes down 65 per cent compared to Monday's levels. Public Warehousing slumped 15 per cent and Dubai Insurance shed more than 6 per cent. Meanwhile, Al Mazaya Holding added a little over 2 per cent.
Abu Dhabi
Despite weakness in the Industries, Banking and Insurance sectors, the Abu Dhabi market ended in positive territory, thanks to vigour in the Services sector. Interestingly, losers outnumbered gainers 2:1. International Fish Farming and Union Cement rose 8 per cent and 4 per cent, respectively. Elsewhere, Abu Dhabi Aviation and Emirates Driving dwindled 5 per cent and 4 per cent respectively.

 






  MENA News Headlines
Apr 23 2014Omantel launches service package for youth ,MENAFN
(MENAFN) Omantel announced launching 'Ozone' plan, a new package designed especially for the youth. This comes with the company"s constant efforts to enhance the communication needs of its customers, ...

Apr 23 2014Dh154 billion for Arabtec projects ,Khaleej Times
(MENAFN - Khaleej Times) Arabtec will spend dh140 billion on building one million low-cost houses in egypt and dh14 billion on five mixed-use residential projects in abu dhabi and dubai its chief ...

Apr 23 2014?Titli? makers excited about Cannes selection ,Khaleej Times
(MENAFN - Khaleej Times) The movie about the badlands of delhi?s dystopic underbelly will be in competition as part of the un certain regard section of the 67th cannes film gala to be held may ...

Apr 23 2014Saudi- Yaroub Bashraheel: In search of peace ... underwater ,Arab News
(MENAFN - Arab News) You've heard of diving snorkeling and other water activities but rarely has anyone heard of free-diving. it's a form of diving underwater without the aid of any breathing ...

Apr 23 2014Saudi- Schneider highlights intelligent health care solutions at forum ,Arab News
(MENAFN - Arab News) Schneider electric a global specialist in energy management is set to showcase its leadership in intelligent health care solutions at the second saudi forum for planning and ...

Apr 23 2014Saudi- Divorcees can seek housing ,Arab News
(MENAFN - Arab News) The kingdom will accept applications from saudi divorced women and widows for financial and housing support said justice minister muhammad al-issa.al-issa called on applicants ...

Apr 23 2014Saudi Savola Group revenue up 43 pct in Q1 ,MENAFN
(MENAFN) Saudi Arabia's Savola Group registered a 43 percent increase in profits in the first quarter, well over expectations of analysts, Arabian Business reported. According to a statement to ...

Apr 23 2014Dewa and GE explore collaboration opportunities ,Khaleej Times
(MENAFN - Khaleej Times) Saeed mohammed al tayer managing director and chief executive officer of the dubai electricity and water authority (dewa) recently received a ge delegation to explore ...

Apr 23 2014Sale of Gate Towers penthouses launched ,Khaleej Times
(MENAFN - Khaleej Times) Aldar properties has launched the sale of 21 exclusive duplex penthouse apartments at gate towers the penthouse collection in shams abu dhabi on al reem island. one of ...

Apr 23 2014ADCB profit grows 26% in first quarter ,Khaleej Times
(MENAFN - Khaleej Times) Abu dhabi commercial bank?s profit grew 26 per cent in the first quarter of the year to dh1. however net profit rose 22 per cent year-on-year. non-interest income was 24 ...

Apr 23 2014Saudi- New passport office opens at Red Sea Mall ,Arab News
(MENAFN - Arab News) The passport department has opened a new office for citizens and residents at the red sea mall.gen. abdul rahman bin abdullah al-tuwairki deputy director general of the ...

Apr 23 2014Local international companies come out in force ,Khaleej Times
(MENAFN - Khaleej Times) Cityscape abu dhabi has started showing stronger interest from property developers who have showcased their upcoming projects. the three-day realty show was opened by ...

Apr 23 2014'Piles and piles' of bodies in S. Sudan ,Arab News
(MENAFN - Arab News) Nairobi: gunmen who targeted both children and the elderly left 'piles and piles" of bodies — many of those in a mosque — in a provincial capital in south sudan the un's top ...

Apr 23 2014Tamouh steps up activity on projects ,Khaleej Times
(MENAFN - Khaleej Times) Abu dhabi-based real-estate developer tamouh has scaled up construction activity on all of its announced reem island projects to meet the rising demand for prime spaces in ...

Apr 23 2014UAE- Billion-dollar realty projects on show ,Arab News
(MENAFN - Arab News) Cityscape abu dhabi a three-day realty event that began with 120 regional and international exhibitors witnessed major announcements on tuesday.salama bint hamdan al-nahyan ...

Apr 23 2014Kowait- Police deportation powers curbed ,Arab Times
(MENAFN - Arab Times) Kuwait city april 3 (afp): kuwaiti police will no longer be able to deport expatriates without interior ministry approval under new rules published thursday after officers ...

Apr 23 2014Saudi- Ministry launches complaint center for domestic workers ,Arab News
(MENAFN - Arab News) The labor ministry has launched a first-of-its-kind multilingual communication center to address complaints and grievances voiced by the kingdom's 1.2 million domestic ...

Apr 23 2014Qatar's MPHC net profit hits USD127m in Q1 ,MENAFN
(MENAFN) Qatar's Mesaieed Petrochemical Holding Company (MPHC) announced that a net profit increase in the January-March period of this year, The Peninsula Qatar reported. The company, a leading ...

Apr 23 2014Kowait- Rationalization of water use in focus ,Arab Times
(MENAFN - Arab Times) Kuwait city april 7 (kuna): under the patronage of minister of electricity and water abdulaziz al-ibrahim kuwait environment protection society (keps) organized monday a ...

Apr 23 2014Kowait- MoI FM discuss visa issuance by embassies ,Arab Times
(MENAFN - Arab Times) Kuwait april 10 (agencies): officials of the ministries of interior and foreign affairs on thursday discussed implementation of a decision by the minister of interior to ...

more...


 
Arab Advisors_11th convergence conf






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
Marketwatch News
UPI News
Comtex News

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