After a stellar start to the year, Saudi Arabia's stock market has lost its momentum because of disappointing earnings at blue-chip companies. Now investors are hoping a spate of new listings of family-owned businesses will restore energy to the market. Analysts say authorities are encouraging family-owned companies to list on the exchange, partly as a way to distribute wealth more widely. Raising the income of less well-off Saudis is also the goal of the government's job creation and welfare programmes, which have been expanded in the past 18 months. Listing family businesses, many of which are in consumer sectors rather than the capital-hungry banking and petrochemical areas, could lure money back to the stock market by giving investors more choice. "We get the sense that there is a lot of pressure from the government on family-run businesses to go public," said Mahmoud Akbar, a banking analyst at Riyadh-based NCB Capital. More»

The Muscat Securities Market (MSM) will remain closed on November 28 and 29 due to National Day holidays. Trading on the bourse will resume on December 2, according to a statement posted on MSM website. More»

Qatar stocks hovered in small gains and losses on Wednesday 20th Nov 2012, which turned positive and the day ended in green. The index added 11.48 points or 0.14 percent to reach at 8,407.53. Med Cap, Micro Cap and Large Cap ended the session in upward district. QE Sectors Indices showed a tremendous performance. Only Real Estate ended the day in downward district with a nominal change of 0.09 percent. Transport and Telecom were the best performing sectors of the day, advancing 0.6 and 0.24 percent respectively. The market breadth was positive with advance – decline ratio of 1.5:1. Blue Chips mostly turned green. Only Commercial Bank of Qatar and Industries Qatar were the declining stocks with a negative percentage of 0.14 percent and 0.07 percent respectively. More»

In a cordial and friendly atmosphere, Mr. Rashed Al Baloushi, CEO of ADX, met with H.E. Francisco Alonso the Mexican ambassador in the UAE. The meeting took place at the Mexican embassy in Abu Dhabi. The meeting reviewed relations of cooperation and friendship between the UAE and Mexico for the best interest of the two friendly countries. During the meeting, the two officials reviewed bilateral relations between the two countries and ways of enhancing those relations in the fields of finance and economy. Mr. Al Baloushi praised the efforts made by the Mexican ambassador during his time in Abu Dhabi to promote bilateral relations between the two countries. ADX CEO underlined that there are a lot of fields in which the two countries can cooperate to further boost those relations. More»

The bullish momentum at the Qatar Exchange was sustained yesterday, mainly supported by large cap stocks. Foreign institutions were seen imparting buying pressure as the 20-stock QE Index (based on price data) rose 0.18% to 8,396.05 points. The market is, however, down 4.36% year-to-date. The 20-stock Total Return Index also rose 0.18% to 11,362.88 points and the All Share Index (comprising wider constituents) by 0.09% to 2,023.48 points respectively. Both the indices factored in dividend income as well. Under the All Share Index category, the real estate index gained 0.25%, followed by industrials (0.22%), banks and financial services (0.20%) and consumer goods (0.05%); while the indices of insurance, transport and telecom shrank 1.13%, 0.45% and 0.17% respectively. Market capitalisation was up 0.33% or more than QR1bn to QR459.28bn mainly on a 0.24% jump in large cap equities, even as small and micro caps lost 0.31% and 0.12% respectively. More»

The War Between Bulls And Bears Ceased In A Standoff At Abu Dhabi Exchange On Tuesday 20th Nov 2012, As Adx Index With A Positive Change Of 0.63 Points Retreated To 2,660.80, Which Was Roughly Where It Started The Session. All The Market Cap Indices Ended The Day In Upward District. Among The Adx Sectors Indices Only Telecom And Industrial Sectors Turned Red, Dropping 0.41 Percent And 0.33 Percent Respectively. On The Green Side, Services Sector Advanced By 0.99 Percent. Real Estate Followed It With 0.67 Percent. The Market Breadth Was Positive With Advance – Decline Ratio Of 1:1 Most Of The Heavyweights Remained Unharmed By The Today’s Trading Session And Remained Unchanged. First Gulf Bank Was The Only Advancing Stock With A Positive Percentage Of 1.97. While, Abu Dhabi Commercial Bank And Etisalat Dropped 1.57 Percent And 0.81 Percent Respectively. More»

Despite a wide fluctuation, the Tadawul All-Share Index (TASI) changed a little from earlier levels yesterday, declining merely 4.42 points or 0.07 percent to close at 6,662.04. The index traded in a high range (84 points), moving 35 points up and 49 points below the level of opening bell yesterday. Most of the major sectors closed in the green territory, accumulating an aggregate of over 161 points. Insurance outdid rest of the Saudi sectors, advancing more than one percent to close the day at 1,440.87. On the negative side, five sectors ended in red, trimming roughly 200 points for the day. Retail and Multi-Investment sectors posted the largest losses, falling 0.88 percent and 0.79 percent respectively. Market breadth was positive this time as the total number of rising stocks exceeded to the total number of falling stocks by a margin of 72 to 66 and the prices of 17 companies remained unchanged. SABB outperformed among large market cap companies, reflecting an increment of SR 0.4 or 1.33 percent. More»

Most regional markets closed in the red as the conflict in the Middle East left investors cautious. The Muscat Securities Market general index extended its loss and edged down 0.28 per cent to close at 5,601.94. Trading activity remained subdued as a total of 699 trades were executed generating a turnover of RO2.30mn, while 7.82mn shares were exchanged over the counters. Market breadth remained in favour of decliners as of the 44 securities traded for the day 15 declined, while nine advanced and 20 stocks closed unchanged. Top gainers of the day were Al Hassan Engineering (+3.21 per cent at 161bz), Port Services Corporation (+2.65 per cent at 503bz), Oman Fisheries (+0.99 per cent at 102bz), HSBC Bank Oman (+0.47 per cent at 212bz) and Renaissance Services (+0.40 per cent at 503bz) while the top losers were Dhofar Cattle Feed (-2.26 per cent at 173bz), Construction Materials Industries (-1.79 per cent at 55bz), Bank Sohar (-1.31 per cent at 151bz), BankDhofar (-1.15 per cent at 345bz) and Al Jazeira Services (-1.07 per cent at 371bz). Among the sectoral indices, the Financial index dropped 0.34 per cent owing to declines in banking stocks. The Industrial and Services indices closed flat. More»

Saudi Arabia's Capital Market Authority is allowing subscription rights for share offers to be listed and traded on the Saudi stock market, as it modernises the market in preparation to permit the entry of foreign investors. "This framework aims to add further protection and flexibility to those investors that do not have the intention to subscribe to their entitlements," the regulator said in a statement announcing the initiative on Sunday. Abdulhamid abu Dahesh, a Saudi financial advisor, said the new framework was similar to those in developed European stock markets, and was a step towards trading practices in advanced financial systems. Saudi Arabia has been making preparations to open its stock market, the Arab world's largest, to direct investment by foreign institutions but has not yet announced a date for the reform, apparently because it is concerned about the possibility of destabilising the market. More»

Saudi shares on Saturday ended lower, 0.33 per cent down at 6919.06 points, paring losses from the early trade. The petrochemical index dropped 0.73 per cent at 5874.42 points, dragged lower by heavyweight Saudi Basic Industries Corp (Sabic) which slides 0.82 per cent. The banking index closed 0.45 per cent at 15272.18 points. Crude oil futures advanced on Friday, boosted by a rise in US consumer sentiment to a five-year high and upbeat readings on the Chinese economy, while gasoline futures surged even more on speculation over delivery problems and tight supplies in storm-hit New York Harbour. Speculation about possible delays in delivering gasoline against the expired November RBOB contract overshadowed broader economic issues, such as concerns over Europe's debt woes and the "fiscal cliff" facing the US. Earlier in the day, shares opened lower dragged down by losses in the petrochemical and banking stocks. More»