Global Shariah-compliant stocks underperformed the shares of conventional companies this month until the close of trading on Tuesday, index provider Dow Jones Indexes said on Wednesday.

The Dow Jones Islamic Market Titans 100 Index, which measures the performance of 100 of the leading Shariah-compliant stocks globally, gained 2.22 per cent month-to-date, closing at 1939.19 points.

In comparison, the Dow Jones Global Titans 50 Index, which measures the 50 biggest companies worldwide, posted a gain of 3.88 per cent, closing at 160.55.

The DFM Titans 10 Index, measuring the 10 largest and most liquid stocks listed on the Dubai Financial Market, closed at 2381.27, a gain of 1.37 per cent in the same period.

Dow's Kuwait index posted a gain of 6.95 per cent, closing at 1045.73. Measuring the performance of Shariah-compliant stocks of five GCC member states, the Dow Jones Islamic Market GCC Index closed at 1419.17, a gain of 4.68 per cent. The conventional Dow Jones GCC Index was up five per cent to August 25.

The firm's Islamic Market Asia/pacific Titans 25 Index increased 1.33 per cent, while the conventional Asian Titans 50 Index, in comparison, posted a gain of 1.68 per cent. The Islamic Market Europe Titans 25 Index gained 3.79 per cent, while the pan-European blue chip STOXX 50 gained 6.53 per cent. The Dow Jones Islamic Market US Titans 50 gained 1.77 per cent compared to a 4.01 per cent increase in the Dow Jones Industrial Average.

By Staff Writer

© Emirates Business 24/7 2009