Roundup: Bahrain Bourse, NASDAQ Dubai outperform region
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E-mail Xinhua, March 15, 2013
Most Gulf Arab equity indices defied a slight decline in oil prices and remained buoyant Thursday.
The Manama-based Bahrain All-Share Index advanced for the eighth consecutive day, one of the longest gaining streaks it has ever seen, and closed at an eight-month high at 1115.11 points.
National Bank of Bahrain gained the most, closing up 9.93 percent at 0.62 Bahrain dinars (1.64 U.S. dollars).
In Dubai, the market measure of the international bourse NASDAQ Dubai, the FTSE NASDAQ Dubai UAE 20 index, closed 0.96 percent higher at 2247.33 points, the highest level since September 2009.
The gauge measures 20 liquid stocks listed on the local bourse Dubai Financial Market, the Abu Dhabi Securities Exchange (ADX) and NASDAQ Dubai.
Shares of Dubai Ports (DP) World, globally the third biggest maritime port conglomerate, jumped 5.80 percent to hit a 4.5-year high at 14.40 dollars, amid ongoing bullish prospects for the world economy.
Although oil prices of DME Oman crude declined 0.84 percent, the Abu Dhabi market ADXGI index climbed up 0.73 to reach 3,030.37 points.
Abu Dhabi harbors some 7 percent of the world's known reserves of the "black gold". The sheikhdom's biggest developers, Aldar Properties and Sorouh Real Estate advanced by 0.72 percent and 0. 58 percent, respectively. Both firms recently got shareholders' nod to merge.
In Doha, the Qatar Exchange 20 Index reached a two-week high, ending up 0.59 percent at 8,583.78 points.
The Muscat Securities Market MSM failed to follow the pack and ended unchanged at 6,077.88 points. So did the Kuwait market KSE which finished at 6,704.45 points.
The Saudi stock exchange Tadawul remained closed Thursday. Endi
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