Based on the close of trading on April 26, the global Dow Jones Islamic Market Titans 100 Index, which measures the performance of 100 of the leading Shari’ah compliant stocks globally, gained 2.99% month-to-date, closing at 2397.07. In comparison, the Dow Jones Global Titans 50 Index, which measures the 50 biggest companies worldwide, posted a gain of 2.46%, closing at 189.49.
A number of Dow Jones Islamic Market (DJIM) Indexes posted gains in April. After diving 10.17% in the first quarter of 2011, the DJIM Kuwait Index rebounded, registering a gain of 7.04% to 963.52 (as of the close of trading on April 26). In a nation with nearly 95% of its federal budget is tied to oil revenues, rising oil prices drove the Gulf state’s stock market higher. The resignation of Kuwait ’s old and unpopular cabinet also helped. Kuwait was followed (on a percentage basis) by the DJIM Hong Kong Index, up 6.50% to 1,655.53; and the DJIM Philippines Index, up 5.90% to 1,855.26.
About Alex Akesson
Alex has been specializing in hedge fund and alternative investment news since April 2006. Working mainly in research and manager interviews, she has published breaking news on the hedge fund industry on her blog, as well as several industry publications.
Her access to hedge fund managers gives her insight into news stories as well, and the ability to track press releases and other breaking news in real time.
Dow Jones Islamic Market Indexes in April
Based on the close of trading on April 26, the global Dow Jones Islamic Market Titans 100 Index, which measures the performance of 100 of the leading Shari’ah compliant stocks globally, gained 2.99% month-to-date, closing at 2397.07. In comparison, the Dow Jones Global Titans 50 Index, which measures the 50 biggest companies worldwide, posted a gain of 2.46%, closing at 189.49.
A number of Dow Jones Islamic Market (DJIM) Indexes posted gains in April. After diving 10.17% in the first quarter of 2011, the DJIM Kuwait Index rebounded, registering a gain of 7.04% to 963.52 (as of the close of trading on April 26). In a nation with nearly 95% of its federal budget is tied to oil revenues, rising oil prices drove the Gulf state’s stock market higher. The resignation of Kuwait ’s old and unpopular cabinet also helped. Kuwait was followed (on a percentage basis) by the DJIM Hong Kong Index, up 6.50% to 1,655.53; and the DJIM Philippines Index, up 5.90% to 1,855.26.
About Alex Akesson
Alex has been specializing in hedge fund and alternative investment news since April 2006. Working mainly in research and manager interviews, she has published breaking news on the hedge fund industry on her blog, as well as several industry publications. Her access to hedge fund managers gives her insight into news stories as well, and the ability to track press releases and other breaking news in real time.