Dubai: The Abu Dhabi Securities Exchange (ADX) was the leading Arab financial market in terms of performance last week, as its index surged by 3.6 per cent, and its market value by 3.03 per cent, according to the Arab Monetary Fund (AMF).
In its weekly bulletin on Arab capital markets’ performance, the AMF noted that the market value of Arab stock exchanges rose by 2.5 per cent, equivalent to $110.64 billion at the end of trading last week. The bulletin also highlighted that the market value of the 13 Arab stock exchanges listed in the AMF’s database rose to $4.58 trillion at the end of last week, compared to $4.46 trillion at the end of the previous week.
The bulletin then highlighted several positive factors that contributed to the rise in performance indicators of several Arab stock exchanges. This included the growth of trade and market values in the major stock exchanges, as well as their ongoing efforts to expand the scope of companies listed in primary and secondary markets over the past week. The positive results of listed companies and more foreign investment activity at institutional and individual levels also contributed to the spike.
According to the bulletin, nine Arab stock exchanges witnessed an increase during the past week, led by the ADX at 3.6 per cent, the Dubai Financial Market at 2.35 per cent, and the Qatar Stock Exchange at 2.75 per cent while the stock exchanges of Saudi Arabia, Morocco, Syria and Palestine also recorded growth ranging from between 1.2 per cent and 1.95 per cent. The stock exchanges of Tunisia and Jordan witnessed improvements of less than 1 per cent.
