Aug 07 2012
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Arab bourses gain $16bn in 7 months
But only six markets rise, mainly in Gulf
From $901.8 billion at the end of 2011, the combined market capitalization of the region's 14 official stock exchanges grew to nearly $$917.9 billion at the end of July, according to the Abu Dhabi-based Arab Monetary Fund ( AMF ).
The level had sharply risen to nearly $981 billion at the end of March before it started its gradual decline to reach $916.3 billion at the end of May. It slightly rebounded at the end of July and swelled further to $925 billion on August 5.
The report showed Abu Dhabi's market rose from $66.6 billion at the end of 2011 to $72.9 billion at the end of July while Qatar's bourse swelled from $124.4 billion to $129.2 billion and that of Kuwait from $101.1 billion to $104.3 billion.
Outside the Gulf, Egypt's bourse rose from $57.1 billion at the end of 2011 to $60 billion at the end of March before dipping to $55.1 billion at the end of July.
Morocco's Casablanca market slumped from $61.7 billion to $52.3 billion while the bourses of Jordan and Lebanon slipped from $25.7 billion and $16.4 billion to around $25.4 billion and $16.3 billion respectively.
Tunisia's bourse edged up from $9.6 billion to $10 billion while those of Palestine and Syria dropped from $2.7 billion and $1.4 billion to $2.6 billion and $1.2 billion respectively, the report showed.
© Emirates 24|7 2012
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