UAE had best performing stocks of the GCC in 2005
The UAE proved to have the best performing stocks of the GCC for the first 11 months of the year, with the Dubai Financial Market up 154.9pc and the Abu Dhabi Securities Exchange up 76.90.
The second highest performing market was the Saudi Arabia Stock Exchange, up 98.76pc, followed by Kuwait at 85.2pc. Qatar's Doha Security Market was up 68.5pc while the Oman Stock Exchange was up 43.3pc.
However, some analysts predict that the GCC stock markets may be overpriced and due for a correction or even a bursting of a bubble, according to <i>Gulf Daily News</i>.
Bahrain's stock market was reportedly the worst performing in the GCC, with figures showing that the performance of companies on the Bahrain Stock Exchange (BSE), at 26.3 percent-- the lowest among the seven stock exchanges analyzed by the Arab Monetary Fund.
Bahrain, along with Qatar, had the lowest number of new Initial Public Offerings (IPOs) with only two new companies listing themselves. Saudi Arabia, on the other hand had 26, Kuwait had 15, Abu Dhabi had 15, and Dubai had 10.
Overall, the Gulf recorded more than 14pc growth in the number of companies listed.
- GCC Investment Strategy and Sectors Outlook for 2006
- 2014's gains officially erased by oil: Dubai index no longer world's best performing
- Rasmala: UAE best performing GCC market in February 2009 with over 6% gain
- Al Hilal GCC Equity Fund wins ‘2014 Best Islamic Fund’ at Banker Middle East Product Awards UAE