amwalalghad :: Arab

Your English Portal To Arab Economy

GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        


Money Markets - Arab

Amwal Al Ghad English - 2016-09-28 09:18:50
Most stock markets in the Gulf fell in early trade Wednesday after Saudi Arabia and Iran dashed market hopes that the two major OPEC producers would find a compromise at a meeting in Algiers to help ease a global glut of oil. Brent oil futures sank about 3 percent to around $46 a barrel on Tuesday after Iran rejected an offer from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supply. Saudi Arabia's index, which retreated 3.8 percent on Tuesday after the government said it would scale back financial bonuses for public sector workers in an austerity drive, fell a further 0.5 percent in the first half-hour on Wednesday to 5,703 points, approaching technical support on its February low of 5,551 points. Petrochemical blue chip Saudi Basic Industries sank 1.2 percent although one stock in the sector, PetroRabigh , rose 2.1 percent after saying it would proceed eventually with a rights issue that has been delayed since 2015. Saudi insurance stocks, which are favourites of local retail investors who now face cuts to their disposable income, were again hit hard; SAGR Insurance dropped 2.9 percent. Travel agency Al Tayyar, also exposed to weak consumer spending, tumbled 4.9 percent. Dubai's index edged down 0.3 percent and Abu Dhabi slipped 0.2 percent while the Qatari index was flat. In all three markets, most of the heavily traded stocks barely moved. More»
Amwal Al Ghad English - 2016-09-26 07:57:20
A rebound in crude prices may help lift oil-sensitive shares in the Gulf during Monday trade, while sentiment in Saudi Arabia is likely to be positive after the central bank said it would inject capital into the local banking system. Signals have been mixed so far on whether a deal on cutting or freezing production of oil is possible. But Algeria's energy minister said on Sunday that all options were possible for an oil output cut at this week's informal meeting of OPEC producers, pulling Brent futures above $46 a barrel, after slumping 4 percent on Friday. Saudi Arabia's central bank said on Sunday it would deposit about 20 billion riyals ($5.3 billion) at commercial banks and introduce two new money market instruments to fight a surge in market interest rates caused by low oil prices. The central bank's move was seen as an effort to make its money market management more transparent and predictable, which could ease investors' concerns and may encourage them to return to equity markets, after a year of constrained activity and heightened volatility. Banking shares have been underperforming the general index over the last several months as an illiquid construction sector - which makes up a large portion of corporate loans - weighed on market sentiment. But many analysts believe that some lenders are trading at a discount to what they predict to be their fair value, and that the central bank's measures could help alleviate some pressure on the banking system. Samba Financial Group, which closed at 17.80 riyals on Friday, is trading at a 27 percent discount to its average fair value as estimated by 13 analysts, according to Reuters data. More»
Amwal Al Ghad English - 2016-09-22 16:54:02
Stocks in the Gulf surged Thursday, taking their cue from global shares after the Federal Reserve left U.S. interest rates unchanged and indicated a slower pace of future hikes. Dubai's main index was the top gainer among its regional peers, jumping 2.0 percent in the most active trade of the week as nine-tenths of the traded shares rose. Emaar Properties, the largest listed developer and Dubai Investments each gained 2.9 percent. In neighbouring Abu Dhabi, the index advanced 1.0 percent with gainers outnumbering losers by 12 to five. Abu Dhabi National Energy was the second top gainer, soaring 8.0 percent as Brent futures bounced above $47 a barrel as the dollar -- the currency in which the commodity trades -- was knocked down. But Dana Gas fell 1.7 percent after it said on Thursday its board had discussed a proposal to buy back shares in the company. The company also expressed its "dissatisfaction with the non-payment of the company's outstanding dues in Egypt" without elaborating. Qatar's main index rose 1.6 percent with three-quarters of the shares advancing, trimming its loss for a volatile week to 1.2 percent. Some of the chief gainers were this week's new entrants to the FTSE's secondary emerging market index. Qatar Insurance jumped 3.1 percent and Doha Bank climbed 3.3 percent. Saudi Arabia's stock market was closed on Thursday in observance of the kingdom's national day holiday. It will resume trade on Sunday Sept. 25. More»
Amwal Al Ghad English - 2016-09-22 09:56:47
Stock markets in the Gulf climbed in early trade Thursday, taking their cue from Asian shares and Wall Street, after the Federal Reserve left U.S. interest rates unchanged and indicated a slower pace of future hikes. Dubai's main index was the top gainer among its regional peers, jumping 1.1 percent as nine-tenths of the traded shares rose. Emaar Properties, the largest listed developer, climbed 2.2 percent, and Dubai Investments gained 2.0 percent. In neighbouring Abu Dhabi, the index edged up 0.3 percent. Abu Dhabi National Energy was the top gainer, climbing 2.0 percent. Brent futures bounced to $47.47 a barrel, up 0.9 percent, as the dollar - the currency in which the commodity trades- was knocked down. But Dana Gas fell 1.7 percent after it said on Thursday its board had discussed a proposal to buy back shares in the company. Qatar's main index rose 0.9 percent with a little under three-fifths of the traded shares advancing. Some of the chief gainers were this week's new joiners to the FTSE's secondary emerging market index. Aamal Co, a large-cap industrial conglomerate, jumped 2.7 percent, and petrochemical producer Industries Qatar rose 1.4 percent. Saudi Arabia's stock market is closed on Thursday in observance of the kingdom's national day holiday. It will resume trade on Sunday Sept. 25. More»
Amwal Al Ghad English - 2016-09-21 18:12:18
Bourses in the Gulf were mixed Wednesday with Saudi Arabia's bourse supported by the petrochemical sector. Saudi Arabia's index rose 0.4 percent in moderate trade as Brent prices firmed over $46 a barrel. Saudi Basic Industries, the petrochemical heavyweight, climbed 0.9 percent. The insurance sub-index, usually actively traded by day traders, added 1.7 percent as almost all the constituents advanced, recouping some of the heavy losses of the week. BUPA Arabia, a mid-sized medical insurer, rose 2.9 percent. But banking shares were mixed, with the sub-index losing 0.2 percent as the sector's heavyweights diverged. Al Rajhi Bank, the largest listed Islamic lender, dropped 2.7 percent. "There is an overhang from the construction sector on Saudi banks, but we believe that the capital buffers in top-tier banks are sufficient," said Kunal Damle, institutional sales for brokerage at Bahrain's Securities & Investment Company (SICO). Samba Financial Group, which derived 11 percent of its net income from corporate banking in the first half of the year, jumped 4.9 percent. The exchange will be closed on Thursday in observance of the kingdom's national day holiday and will resume trade on Sunday Sept. 25. Qatar's stock index slipped 0.04 percent, after advancing 1.0 percent on Tuesday as passive funds flowed into the companies now included in the FTSE's secondary emerging market index. Seven of the 22 shares which are now FTSE members pulled back, with Ezdan Holding Group dropping 1.2 percent, while five of them advanced with Masraf Al Rayan adding 0.3 percent. But mobile operator Ooredoo, now a member of the FTSE emerging market index, added 2.4 percent after the company said late on Tuesday it had no intention of selling any of its interest in Indonesian subsidiary Indosat Ooredoo. There had been media speculation it was considering a stake sale to focus on Middle Eastern markets. Dubai's index failed to hold onto small gains from earlier in the day and dropped 0.3 percent as declines in blue chips weighed on the exchange. Emaar Properties retreated 1.3 percent and Dubai Investments lost 1.0 percent. But Abu Dhabi's index rose 0.2 percent although activity was lower than previous sessions this week. Union National Bank, which has shed 6.7 percent since Sunday, added 1.0 percent. More»
Amwal Al Ghad English - 2016-09-20 09:21:38
Qatar's index climbed in early trade Tuesday as passive funds flowed into shares now included in FTSE's secondary emerging market index, while other Gulf benchmarks pulled back. Doha's index rose 1.5 percent, recouping some of the 4.0 percent losses from the previous session. Passive funds will flow into 22 shares as of Tuesday, and the stocks will continue to be bid up for several days to come as managers meet their fund mandates. Islamic lender Masraf Al Rayan, which slumped 5.1 percent on Monday, added 2.1 percent and telecommunication provider Ooredoo, which also dropped 5.1 percent the previous session, climbed 2.3 percent. Meanwhile, Dubai's index fell 0.4 percent on profit taking as some shares which had been rising over the previous several days declined. Emaar Properties lost 0.4 percent and Shuaa Capital fell 0.6 percent. Saudi Arabia's main index extended its previous session declines and was down 0.7 percent after 45 minutes of trade, falling below the technical support on the August low of 5,911 points. Petrochemical shares were hit as Brent futures fell back below $46 a barrel. Large-cap producer Saudi Kayan Petrochemical dropped 2.4 percent. Uncertainty over further austerity hit the retail segment. United Electronics (Extra) fell 2.2 percent and Saudi Automotive declined 2.8 percent. According to local media, the government is expected to hike fees on services including driving licences, traffic violations, port fees and several other municipal services on Oct. 2. More»
Amwal Al Ghad English - 2016-09-19 17:28:40
Qatar's main equity index tumbled 4.0 percent Monday ahead of the additions of some companies in FTSE's secondary emerging market index, while Saudi Arabia’s stock market fell as investors grew weary of further austerity expected to come into effect next month. Doha suffered from its largest single day drop since January in the heaviest turnover so far this year. Shares in companies set to be included in index compiler FTSE's secondary emerging market index on Sept. 20 were the top losers, with mobile phone operator Ooredoo and Islamic lender Masraf Al Rayan each falling 5.1 percent. Fund managers said the correction was expected as the rally in anticipation of inclusion in the FTSE index had taken some company valuations above fair value. Saudi Arabia's stock index dropped 2.1 percent to 5,936 points, only 25 points shy of the technical support on the August low. Nine-tenth of the traded shares declined. Although volume was double that of Sunday's, the general lack of liquidity in the market is one of the greatest concerns, said Santhosh Balakrishnan, equity analyst at Riyad Capital. "There has been less participation in the market comparatively, and this is the first year that there is no grand re-opening of the markets after the Eid holidays." Saudi Kayan Petrochemical dropped 3.1 percent and the largest Islamic bank Al Rajhi Bank dropped 3.1 percent. Uncertainty over further austerity hit sentiment, according to local media, the government is expected to hike fees on services including driving licenses, traffic violations, port fees and several other municipal services on Oct. 2. Last month the cabinet, seeking to boost state revenues in an era of low oil prices, approved proposals to raise a range of government fees including visa charges and fines for some traffic violations. The insurance sub-index, usually favoured by local retail traders, fell 4.1 percent. "In a time of uncertainty no one takes fresh positions and they tend to stay away until clarity comes back," More»
Amwal Al Ghad English - 2016-09-19 09:13:13
Oil prices climbed almost 2 percent Monday, after Venezuela said OPEC and non-OPEC producers were close to reaching an output stabilizing deal and as clashes in Libya raised concerns that efforts to restart crude exports could be disrupted. Venezuelan President Nicolas Maduro has said that a deal could be announced this month to stabilize oil markets, which have come under pressure due to a persistent glut and a price collapse over the past two years. Brent crude futures were at $46.59 per barrel at 0301 GMT, up 82 cents, or 1.8 percent, from their previous settlement. U.S. crude was up 88 cents, or about 2 percent, at $43.91 a barrel. The rise in oil prices is a reaction to Venezuelan comments about producers reaching a possible output agreement, said Ric Spooner, CMC Markets' chief market analyst. Loading disruptions in Libya were also underpinning the market, Spooner added. "(Libya) unable to get their first ship loaded is a reminder that it may be difficult for Libya to increase production." Clashes in Libya have halted the loading of the first oil cargo from the port of Ras Lanuf in close to two years, while also raising fears of a new conflict over Libya's oil resources. Brent and WTI prices had been dragged to multi-week lows on Friday amid worries returning supplies from Libya would add to the global supply glut. Concerns over rising supplies remain a bugbear on sentiment. Crude exports from No.3 OPEC producer Iran in August jumped 15 percent from a month ago to more than 2 million barrels per day, according to a source with knowledge of its tanker loading schedule, closing in on Tehran's pre-sanctions shipment levels of five years ago. In the United States, drillers have added oil rigs for 11 out of the past 12 weeks. Drillers added two oil rigs in the week to Sept. 16, bringing the total rig count up to 416, the most since February. More»
Amwal Al Ghad English - 2016-09-19 09:13:10
Stock markets in the Gulf diverged in early trade Monday, with Qatar's index pulling back ahead of the inclusion of some companies in FTSE's secondary emerging market index, while Dubai advanced as global risk sentiment improved. Qatar's index retreated 1.8 percent, wiping out Sunday's 0.4 percent gain. Nine-tenth of the shared that were trading declined. Shares in companies set to be included in index compiler FTSE's secondary emerging market index on Sept. 20 were the top losers, with mobile phone operator Ooredoo dropping 3.8 percent and Qatar National Bank shedding 1.9 percent. Saudi Arabia's index slipped 0.1 percent after an hour of trade, with 74 shares declining and 49 gaining. Saudi Telecom Co (STC) lost 1.8 percent. But petrochemical shares outperformed as Brent futures bounced back over $46 a barrel. Saudi Basic Industries , the largest producer, added 0.6 percent. Meanwhile Dubai's index rose 0.4 percent, with gainers outnumbering losers 16-to-3. Dubai's largest listed developer Emaar Properties added 0.9 percent, while the amusement park builder Dubai Parks and Resorts rose 1.2 percent ahead of the opening of its theme parks next month. Global stocks drew support from expectations that the U.S. Federal Reserve would skip a chance to raise rates this week. Blue chips supported Abu Dhabi's index up 0.6 percent with Aldar Properties adding 1.1 percent and Dana Gas jumping 3.5 percent. More»
Amwal Al Ghad English - 2016-09-15 09:07:59
United Arab Emirates stock markets tumbled in thin early trade Thursday as they reopened after long Eid al-Adha holidays. During the time the bourses were closed between Sunday and Wednesday, oil prices and global equities dropped steeply, leaving few positive incentives for Gulf investors. Many investors remained on holiday on Thursday, the last day of the working week, and will only return to the markets next Sunday, when other major Gulf bourses will reopen after Eid. Dubai's main index slid 1.1 percent in the first hour, with telecommunications operator du dropping 1.4 percent as its shares went ex-dividend. Real estate blue chip Emaar Properties fell 2.0 percent. One of the few gainers was GFH Financial which climbed 2.0 percent after it said a subsidiary had sold its remaining 18 percent stake in English football club Leeds United, in a deal which would reflect positively on its financials and liquidity for 2016. Abu Dhabi's index dropped 0.6 percent in a broad-based decline with nine of the 10 most heavily traded stocks falling. Aldar Properties, the most active stock, lost 1.5 percent. More»