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All Middle Eastern Markets Rise with Eqyptian, Dubai and Israeli Exchanges Sharply Higher

Posted
2/29/2012 12:02:00 PM
By: MT Newswires
Referenced Stocks:CEL

Middle Eastern stock exchanges are all higher in today's trading, with the Dubai DFM rising 1.90% to 1730.43. The Tel Aviv TA-25 closed at 1081.35, up 1.53%. The Egypt EGX 30 continues its strong performance for 2012, up 2.39% to 5349.85.

The big story in Middle East stock exchanges is the Tel Aviv TA-25. The Israeli stock market was the feature of an article by Tal Barak Harif in Bloomberg Businessweek. In his piece, 'The Israali Market's Surprising Stability', Harif pointed out that: "Israel, under threat of war from its neighbors since its founding in 1948, produced better risk-adjusted returns than all other developed stock markets in the past decades." For the ten-year period ending February 17, the Tel Aviv TA-25 returned 161%. Publicly traded companies headquartered in Israel are noted for the preponderance of high tech firms, particularly in telecom, and the high dividends paid. While the average dividend for a stock on the Standard & Poor's 500 Index is around 2%, for the TA-25 it is 3.49%. As an example, Cellcom Israel ( CEL ) has a dividend of 21.75%.

MIDDLE EASTERN EXCHANGES

*Saudi TASI is at 7226.43, up 0.80%.

*Dubai DFM is at 1730.43, up 1.90%.

*Abu Dhabi ADX is at 2611.13, up 0.69%.

*Kuwait KSE is at 6126.90, up 0.17%.

*Bahrain BSE is at 1148.64, up 0.73%.

*Oman MSM is at 5837.66, up 0.47%;

*Qatar QE is at 8746.98, up 0.57%

*Lebanon LSE is at 1196.04, up 0.25%.

*Egypt EGX 30 is at 5349.85, up 2.39%.

*Jordan ASE is at 1959.75, up 0.34%.

*Tunisia TUNINDEX is at 4768.66, up 0.72%.

*Morocco CB is at 11398.90, up 0.23%

*Palestine PSE is at 482.22, up 0.18%.

*TA-25 is at 1081.35, up 1.53%.

COMMODITY INDEXES

*UBS Bloomberg CMCI is at 1,656.67 after reaching a high of 1,662.01 and a low of 1,653.43.

*Standard & Poor's GSCI is at 703.46 after reaching a high of 711.51 and a low of 702.01.

*RJ/CRB Commodity Index is at 323.45 after reaching a high of 323.55 and a low of 322.56.

*Rogers International Index is at 3,944.79 after reaching a high of 3,951.33 and a low of 3,931.44.

COMMODITIES

*Gold is at $1,775.50, down $12.90 and 0.73%.

*Oil is $105.92, down $0.63 -0.59% .

*Corn is at $657.25, up $8.75 and 1.33%.

*Copper is at $388.65, down $2.55 -0.66%

Currencies

*USD/JPY is at 80.690, up 0.31%.

*EUR/USD is at 1.3392, down 0.52%.

*GBP/USD is at 1.5945, up 0.30%.