amwalalghad :: Arab

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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        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        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        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        National Development Bank   6.72        Six of October Development & I   15.03        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        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        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        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        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 - 2016-08-25 18:34:53
Most Gulf stock markets dropped Thursday with Saudi Arabia sliding for a fifth straight day, led by banks, but United Arab Emirates bourses were firm. The Saudi index, which on Wednesday fell below minor technical support on the April low of 6,066 points, sank 0.9 percent on Thursday to a six-month closing low of 5,977 points. Turnover was thin; this week's volume was the lowest in 2016. That is partly because summer holidays have kept retail investors away. Investors are also worried about the impact on corporate earnings of Saudi Arabia's economic slowdown due to low oil prices. "Liquidity is very poor. To complete relatively small sell orders, traders are being forced to push prices lower. And because of weak sentiment, buyers are not being attracted despite the lower prices," Akber Khan, senior director for asset management at Qatar's Al Rayan Investment, said of the Saudi market. Retail investors were also concerned by tensions between Saudi Arabia and Iran, he added. Al Rajhi Bank slid 2.3 percent. Investors are fretting about the impact of a severe slump in the Saudi construction sector on the quality of bank loans. Cement shares, exposed to the construction industry, were also weak with Yamamah Cement dropping 3.8 percent. In Qatar, the index dropped 0.5 percent with oil drilling rig provider Gulf International Services sinking 1.4 percent. Qatar's gross domestic product, adjusted for inflation, grew only 1.1 percent from a year earlier in the first quarter, the slowest growth since at least 2011, official data published on Thursday showed. Both the oil and gas sector and the rest of the economy shrank from the previous quarter. However, Khan said that although Qatar's index had dropped back in the last few days, the market had continued to see net inflows of foreign funds in anticipation of its upgrade by FTSE to emerging market status in mid-September. Such inflows have totalled about $400 million since the start of July and have been positive on every day except July 14, when there was a small net outflow, he said. After early drops, markets in both Dubai and Abu Dhabi closed higher; the UAE is widely seen as more resilient to low oil prices than Saudi Arabia because of its diversified economy and Abu Dhabi's huge financial reserves. Dubai's index closed 0.3 percent higher as GFH Financial, the most heavily traded stock and a speculative favourite of local retail investors, surged 3.0 percent. Emirates NBD lost 0.6 percent. Sources told Reuters on Wednesday that Emirates Islamic, the sharia-compliant arm of ENBD, had laid off more than 100 people as part of cost-cutting to adjust to a cooler economy. Abu Dhabi's index edged up 0.2 percent as blue chip Aldar Properties added 1.5 percent. More»
Amwal Al Ghad English - 2016-08-25 09:02:28
Gulf stock markets extended losses in early trade Thursday with banks leading Saudi Arabia down, as investors continued to pull out of equities over concerns about the region's economic slowdown and policies of austerity. The Saudi index, which on Wednesday fell below minor technical support on the April low of 6,066 points, sank a further 1.4 percent on Thursday morning to 5,946 points. The banking index dropped 1.7 percent with Al Rajhi Bank SE> sliding 2.3 percent. Investors are worried about the impact of a severe slump in the Saudi construction sector on the quality of bank loans. Petrochemical shares were lower but outpaced the market. Dubai's index fell 0.5 percent. Emirates NBD lost 0.6 percent and Dubai Islamic Bank dropped 0.7 percent. Sources told Reuters on Wednesday that Emirates Islamic, the sharia-compliant arm of ENBD, had laid off more than 100 people as part of cost-cutting to adjust to a cooler economy. Abu Dhabi's index fell only 0.2 percent as bank of Sharjah jumped 4.8 percent in thin trade. In Qatar, the index dropped 0.7 percent with oil drilling rig provider Gulf International Services sinking 1.5 percent. Eight of the 10 most heavily traded stocks declined. Qatar's gross domestic product, adjusted for inflation, grew only 1.1 percent from a year earlier in the first quarter, the slowest growth since at least 2011, data published on Thursday showed. Both the oil and gas sector and the rest of the economy shrank from the previous quarter. More»
Amwal Al Ghad English - 2016-08-23 08:47:32
Gulf stock markets continued falling early Tuesday after Brent crude oil dropped back below $49 a barrel and short-term technicals for several indexes in the region turned negative over the past few days. The Saudi index fell 0.6 percent to 6,074 points in the first 45 minutes of trade. On Monday it confirmed a break of support on its early August low of 6,226 points, triggering a right triangle formed by the highs and lows since April and pointing down to the 5,600-point area in the medium term. The drop was broad-based on Tuesday with losers outnumbering gainers by 123 to 12. Saudi Basic Industries, the biggest petrochemical producer, fell 0.3 percent. Dubai's index, which in the last few days failed a test of resistance on the April peak of 3,605 points, dropped 0.5 percent to 3,516 points. Construction company Drake & Scull International slid 1.4 percent in heavy trade; it has lost 11 percent since it announced a big second-quarter loss in mid-August. Qatar's index dropped 0.7 percent to 11,139 points with nine of the 10 most heavily trade stocks falling. Qatar Gas Transport lost 1.8 percent, though Vodafone Qatar rebounded 0.4 percent after a sharp loss on Monday. The index in Abu Dhabi, which tends to be less volatile than most other Gulf markets and did not rise sharply earlier this month when they did, was flat. More»
Amwal Al Ghad English - 2016-08-22 09:02:57
Gulf stocks may be soft Monday after the global environment weakened, with oil and Asian equities pulling back amid concern that a U.S. Federal Reserve gathering this week in Jackson Hole, Wyoming may signal the U.S. central bank is gearing up to hike interest rates. Brent crude has dropped 1.3 percent to $50.20 a barrel in Asian trade while MSCI's broadest index of Asia-Pacific shares outside Japan is down 0.7 percent. There is little fresh, positive news to push Gulf markets up. Dubai's stock index, last at 3,560 points, has retreated twice since last week from technical resistance at its April peak of 3,605 points. Dubai-listed GFH Financial may attract interest after it said it had signed a memorandum of understanding with Bahrain's Bank Al Khair for a potential acquisition of a majority stake in the bank. GFH said the acquisition would create a larger financial group with operations in the Gulf, Britain, Malaysia, Turkey, Pakistan and India, though a deal would depend on many conditions being met including due diligence, and no financial details were given. Saudi Arabia's index, last at 6,212 points, is close to confirming a break of technical support on its early August low of 6,226 points. This would be very bearish, triggering a major right triangle formed by the highs and lows since April and pointing down to the 5,600-point area in the medium term. More»
Islam Salah & Gehad Abdel Ghany - 2016-08-21 17:08:02
Emirates financial services firm, Arqaam Capital is seeking two initial share offerings for two UAE firms on Dubai market within the current year, its executive director said Sunday. The planned IPOs are for two UAE firms worth 4 billion dirhams ($1.1 billion) operating in retail and financial sectors, Arqaam’s executive director Sherif El Helw told Amwal Al Ghad on Sunday. The specialist emerging markets investment bank also plans to boost its total assets under management to $3 billion in the coming two years, by running more equity funds in the coming period. Arqaam is currently assets estimated at around $1 billion represented in managing three mutual funds and a number of financial portfolios, El Helw added. The company currently runs financial consulting, merger and acquisition transactions totalling $1 billion, amidst plans to conclude between five and eight deals before the end of 2016 in both Egyptian and Gulf markets. More»
Amwal Al Ghad English - 2016-08-21 08:59:40
Petrochemical shares boosted Saudi Arabia's stock market early Sunday backed by strong oil prices but most share markets in the Gulf were barely changed. The main Saudi equities index edged up 0.2 percent in the first half-hour as petrochemical blue chip Saudi Basic Industries climbed 1.2 percent to 84.50 riyals. It faces technical resistance at 86-87 riyals, the top of the range in which it has been trading since April. Dubai's stock index also bucked the general flat trend, gaining 0.3 percent to 3,583 points, rising again to near technical resistance at its April peak of 3,605 points. Real estate blue chip Emaar Properties added 0.6 percent. Qatar's index was flat. Stocks which surged last week on hopes they would be included in the FTSE's emerging markets index next month, such as Qatar National Bank and Qatar Insurance, were unchanged to slightly lower. More»
Amwal Al Ghad English - 2016-08-18 16:26:41
Gulf stock markets were narrowly mixed in quiet trade Thursday as petrochemical shares supported Saudi Arabia's index but Qatar’s bourse pulled back after a surge this week due to hopes for inflows of foreign funds. The Saudi stock index closed 0.1 percent higher as the petrochemical sector's sub-index gained 1.1 percent after Brent crude oil futures hit a five-week high of $49.93 a barrel overnight. Saudi Arabia Fertilizers closed 4.8 percent higher in volatile trade. But Qatar's index dropped 0.8 percent after gaining this week on expectations for fund inflows in mid-September, when index compiler FTSE will upgrade the bourse to emerging market status. Among stocks which may become components of FTSE's emerging market index and led the bourse up this week, Qatar National Bank fell back 2.1 percent and Qatar Insurance edged down 0.1 percent. Dubai's stock index rose 0.4 percent to 3,572 points, rebounding after failing a test earlier this week of technical resistance on its April peak of 3,605 points. Emaar Properties rose 0.6 percent. Port operator DP World climbed 1.0 percent after reporting a 50 percent jump in first-half net profit, though this was on the back of acquisitions; the company also said it was delaying the expansion of Dubai's Jebel Ali port because of softer market conditions. More»
Amwal Al Ghad English - 2016-08-18 10:41:29
Gulf stock markets moved little in early trade Thursday as Saudi petrochemical shares firmed moderately in response to higher oil prices, but Qatar pulled back after a surge in past days due to hopes for inflows of foreign funds. The Saudi stock index was flat after 45 minutes as petrochemical giant Saudi Basic Industries climbed 0.9 percent but the banking sector edged down. Dubai's stock index edged down 0.1 percent as GFH Financial, a stock that attracts speculators and was the most heavily traded share, rose 1.0 percent but Emaar Properties slipped 0.3 percent. Qatar's index pulled back 0.5 percent after gaining earlier this week on expectations for fund inflows in mid-September, when index compiler FTSE will upgrade the market to emerging market status. Among stocks which may become components of FTSE's emerging market index and led the bourse up this week, Qatar National Bank fell back 1.0 percent and Qatar Insurance dropped 0.4 percent. More»
Amwal Al Ghad English - 2016-08-17 17:00:46
Most Middle Eastern stock markets dropped on Wednesday with Saudi Arabia hit by a broad sell-off, but support for Qatar persisted on expectations of fund inflows when index compiler FTSE includes it in its emerging market index next month. Doha's index rose 0.3 percent to a new nine-month closing high of 11,409 points, extending Tuesday's 2.2 percent rise. Qatar Insurance gained a further 3.9 percent after rising 3.5 percent on the previous day on hopes the stock will among those included in the FTSE's emerging market index. Qatar National Bank (QNB) added 0.4 percent to 169.10 riyals, taking its gains over the last two days to 7.0 percent. Some analysts believe the market may stay strong into mid-September, when the FTSE change takes effect and passive funds will flow in tracking the index. Akber Khan of Doha-based Al Rayan Investment said: "Judging by the experience of previous upgrades, strength should continue ahead of more than $500 million of passive buying in September." Other analysts believe news of the upgrade has now been fully priced in, leaving some shares vulnerable to pull-backs. QNB, for example, is now at a 6.5 percent premium to the mean fair value estimate of 10 analysts polled by Reuters. Meanwhile Saudi Arabia's benchmark index fell 1.7 percent to 6,220 points, its lowest close for four months. All 14 listed petrochemical shares declined with bellwether Saudi Basic Industries dropping 2.1 percent. But Saudi Steel Pipes jumped 5.4 percent in unusually heavy trade after it announced that it had been awarded a 127 million riyal ($33.9 million) contract by state oil company Saudi Aramco to supply pipes. Dubai's main index retreated 0.9 percent to 3,557 points, pulling back further from technical resistance on its April peak of 3,605 points. Emaar Properties lost 1.1 percent and Dubai Financial Market, the only listed exchange in the Gulf, dropped 2.8 percent. Abu Dhabi's index slipped 0.4 percent as blue chip Abu Dhabi Commercial Bank retreated 5 percent. More»
Amwal Al Ghad English - 2016-08-17 09:29:12
Qatar's main stock index moved little in early trade Wednesday but other bourses in the Gulf edged lower as oil prices and global equities retreated. Doha's index was flat after it rose 2.2 percent on Tuesday on expectations of fund inflows when index compiler FTSE promotes it to emerging market status next month. Qatar Insurance gained a further 3.9 percent after rising 3.5 percent on the previous day on hopes it will be included in FTSE's emerging market index. Qatar National Bank, which had surged 6.7 percent on Tuesday, pulled back 0.3 percent to 168.00 riyals. Shares in the most valuable lender in the Gulf by market value are now at a 5.9 percent premium to the mean fair value of 10 analysts polled by Reuters. Dubai's index was down 0.5 percent at 3,571 points, retreating from technical resistance at its April peak of 3,605 points. Dubai Financial Market, the only listed Gulf exchange, lost 1.4 percent. In Saudi Arabia, the index edged down 0.2 percent after 40 minutes of trade as banking shares weighed. The banking sector has recently underperformed as investors have grown weary of its exposure to the debt of struggling local construction companies. National Commercial Bank, a key lender to builders, was down 0.5 percent. The petrochemical sector, which has been relatively resilient since Brent oil climbed back above $45 a barrel at the end of last week, was supported by a 0.3 percent gain in heavyweight Saudi Basic Industries. More»