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

GCC markets displayes a buoyant performance yesterday  Join our daily free Newsletter

MENAFN - Bahrain Tribune - 05/06/2008

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Bahrain Tribune) Without exception all the GCC markets displayed a buoyant performance yesterday as investors gathered blue-chips. While Saudi led the winners' chart, Oman, Kuwait and Bahrain swept to record highs. Meanwhile, Abu Dhabi closed at a new 52-week high.

Bahrain

The BSE Index slightly improved its position in the green managing to close at an all-time high of 2,892. The Investment sector (up 9 points) single handedly compensated losses in Banking, Insurance and Service.

Tameerk and Ithmaar Bk jumped 6% and 3%, respectively. Esterad Invt was up 1%. On the flip side, the Bah Saudi Bk lost 5% and telecom giant Batelco inched down 0.24%.

Oman

Fuelled by strong buying activity across sectors, the Omani market rally entered the sixth straight day. All the sectors logged-in handsome gains with Banking (2%) stealing the show. Muscat Fin and Bk Dhofar surged 8% and 5%, in that order. Oman Chromite led the advancers zooming 9%. The market breadth was impressive with 40 shares traveling north and just 3 shares going south - Oman Nat Engg was down 1%.

Kuwait

Amidst mixed performing sectors, Kuwait continued its see-saw performance (up 1 day; down the next) - the market shot-up 42 points finishing a new peak of 15,154. The Investment sector (104 points) led the pack of advancers, on a 10% surge in Tamdeen Invt. Gulf Horizon Hldg also profited 10%. However, the Services sector lost out as Kuw Slaughter House plunged 8% and Zain slipped 1%.

Saudi

Recharged investor confidence prompted the TASI to close the week with a handsome gain of 2%. All the sectors closed higher with Petrochem (3%) benefiting the most. Market behemoth Sabic mounted 3% and Yanbu Nat Petro Chem shone 4%. Elsewhere, Malath Ins lost 4% and Arab Nat Bk trimmed 1%. The market recorded more advancers than decliners in a ratio of 15:1.

Qatar

Across-the-board buying deals shouldered the DSM Index 38 points above the fence. The market grossed a turnover of nearly QAR 2 billion with over 35 million shares changing hands. The Industrial stocks were the most sought after - Qat German Medical Devices scaled 7% and Untd Devt moved up 1%. On the other hand, Aamal Hldg (down 3%) led the losers; Doha Bk slipped 0.24%.

Dubai

After witnessing a slight correction yesterday, the Dubai market returned to the black on renewed buying in most of the frontliners. A 2% rise in Tabreed helped the Utilities sector to close on top of the podium. Dubai Invt added 3% and Tamweel rose 1%. Market bellwether Dubai Islamic Bk also edged higher. In contrast, the Materials sector was the lone decliner as Nat Cem (-0.48%) dropped marginally.

Abu Dhabi

Steadily marching on the purple patch for the fifth straight session, Abu Dhabi locked the day's account at a yearly peak of 5,137. The Energy sector attracted investors the most - Taqa expanded 2%; Fujairah Cem swelled 10% and AD Ship Buldg firmed 7%. On a negative note, the Health Care sector suffered 3% on a 5% decline in Gulf Medical Projects. AD Nat Takaful dwindled 8%.

 






  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- 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 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 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 2014Kowait- Amiri Diwan urges all off tape case ,Arab Times
(MENAFN - Arab Times)  kuwait city april 9 (agencies): the amiri diwan has called on everybody to steer clear of the controversial tape issue and let the public prosecution take the necessary ...

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 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 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 2014Kowait- New hospital to be ready by 2014 end ,Arab Times
(MENAFN - Arab Times) Kuwait city jan 14 (kuna): director of the 'mega projects 3' group at kuwait oil company (koc) yaqoub dashti said on tuesday that the new ahmadi hospital would be ready to ...

Apr 23 2014Seven tied for the lead in chess championships ,Khaleej Times
(MENAFN - Khaleej Times) Former champion sukandar grabs lead of asian continental women?s chess. former asian women’s champion wgm irene sukandar of indonesia (left) beat wim ni shiqun ...

Apr 23 2014Two suspects held for robbing pedestrians in Sharjah ,Khaleej Times
(MENAFN - Khaleej Times) The sharjah police on tuesday arrested two stateless citizens for allegedly robbing many persons posing as criminal investigation department (cid) officers. the suspects ...

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 2014Here?s your chance to share screen space with SRK ,Khaleej Times
(MENAFN - Khaleej Times) Groupon india has joined hands with srk?s red chillies entertainment to give fans a chance to feature with the superstar in his upcoming film ?happy new year?. if you ...

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 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 ...

more...


 
Click to Apply






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