28/05/2014
Most Gulf markets rise
UAE stocks and Qatar anticipate officially to join the «emerging»
The stock markets in the UAE and Qatar made the best performance in the region again today with the entry into force of the decision ' MS CIA ' market by raising the classification of those markets even with the belief of many of the institutions that contributed many overstated their value, the Kuwaiti market joined the heights with stabilized market Manama and Muscat Securities market dropped. In Dubai, the DFM index rose 1.1 percent to 5009 points slightly below the technical resistance at 5,011 points. The General index climbed to Abu Dhabi one percent to 5099 point pointer faces strong resistance at 5249 points, its highest level in years in the last month. Aldar was the volume leader, rose 5.1 percent. Local individual investors rely on the flow of new investment funds idle by the end of the week when the entry into force of the decision ' MS CIA ' to classify the UAE and Qatar to emerging market status of junior market. There is likely to be relatively small flows-several hundreds of millions of dollars may not be sufficient to offset the sales profits in the markets climb strongly earlier this year. For this reason many of the envisaged institutional investors cautious.
Though still a large number of individual investors are prepared to inject new funds into the market. They have focused on the Dubai stock market, which would be included in the index ' MS CIA ' for emerging markets including Emaar shares which rose 1.5 percent and shares of arabtec holding construction, which jumped 9.2 percent and perhaps attract arabtec which saw the highest trading since January last more attention from individual investors after the company said its interested in ' building a new airport in Egypt and have the necessary support from the Egyptian leadership. Qatar exchange index rose 0.8 percent, marking the highest close ever at 13,500 points after the Emir ordered the companies to raise the ceiling for foreign ownership in shares to 49 per cent. The command said in a brief statement to the stock exchange did not specify a time frame. At present, the maximum foreign ownership usually up to 25 per cent, although some companies already raised the ceiling on this level. After implementing Sovereign Ordinance that would have a significant impact on attracting foreign funds to Qatar and will help the long-term transition of Qatar to develop advanced market. Although the ' MS CIA ' to lift Qatar to a classification of the emerging market they reduced weights of four companies in its country, due to the reduced maximum foreign ownership of its shares. Vodafone Qatar was the most heavily traded on the market climbed 2.9 percent. Mesaieed shares jumped petrochemical holding 10 percent, the maximum daily move in the stock market. In Kuwait the indicator rose 0.2 per cent to 7258 point supported by increased liquidity and high equity leadership, Zain stocks rose by 3.08 percent and Kuwait Finance House stocks rose 1.25 percent and the National Bank of Kuwait rose by 1.02 percent. The market saw high levels of liquidity may take as an indicator of continued market climb at today's meeting, with investors pumping more liquidity into equities, amid continued speculation the usual stock. In the Bahrain market closed stable at 1458 points, the MSM index fell 0.1 per cent to 6718 points.
