amwalalghad :: Arab

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Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Northern Upper Egypt Developme   4.93        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        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        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        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        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        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        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 - 2015-11-05 15:44:38
Saudi Arabia's stock market dropped Thursday after oil prices slipped again, as real estate developers boosted the Dubai and Egyptian bourses. Brent crude tumbled nearly 4 percent overnight, to back below $50 a barrel. This undermined petrochemical stocks including Saudi Basic Industries, which lost 1.5 percent. Saudi International Petrochemical Co (Sipchem) dropped 2.9 percent after saying it might not pay a dividend for the second half of 2015, despite seeing results from a restructuring intended to cope with cheap oil. The Saudi stock index fell 1.1 percent to 6,961 points, near technical support at the August low of 6,921 points. Saudi Printing and Packaging Co, a focus of the market as it soared 59 percent over the past five trading days, showed signs of peaking. It rose in early trade but heavy selling pushed it down 10 percent by the close. Investor sentiment in Saudi Arabia was weakened by Standard & Poor's downgrade of Saudi sovereign debt at the end of last week, and by a purchasing managers' survey on Tuesday showing private sector growth at its slowest since 2009. Other Gulf markets performed better. Dubai's index rose 0.7 percent as real estate blue chips climbed 2.2 percent, though trade was thin. Abu Dhabi's index was almost flat while Qatar dropped 0.6 percent, as petrochemical maker Industries Qatar slid 1.6 percent. More»
Amwal Al Ghad English - 2015-11-03 09:14:48
Stock markets in the United Arab Emirates inched higher early Tuesday in line with stronger global equities, while Qatar was mixed in a narrow band. Dubai's index added 1.1 percent as all 10 of its most heavily traded stocks rose. HITS Telecom was the most active stock, surging 4.1 percent. Du, the UAE's second biggest telecoms operator, slipped 0.4 percent after missing estimates with a 12.3 percent fall in third-quarter net profit to 489.8 million dirhams ($133.4 million). Two analysts polled by Reuters had on average forecast 521.3 million dirhams. Abu Dhabi climbed 0.8 percent as Aldar Properties gained 3.0 percent. Qatar's index was flat. More»
Amwal Al Ghad English - 2015-11-01 15:49:25
Dubai’s stocks sank Sunday to the lowest level in more than two months, leading most Middle Eastern markets lower, on concern that Saudi Arabia’s debt downgrade will drive up borrowing costs across the region. The DFM General Index dropped 2.1 percent to close at 3,430.93, the lowest level since Aug. 24. Saudi Arabia’s Tadawul All Share Index lost 1.1 percent after Standard & Poor’s cut the country’s credit rating, citing an increase in the kingdom’s budget deficit after the slump in oil prices. “The downgrade will have implications for banks and financial services sector across the region,” said Muhammad Shabbir, the head of regional equities at Rasmala Investment Bank Ltd. in Dubai. “Banks’ credit ratings could come under pressure, not just for Dubai but for all across the Gulf Cooperation Council. This has implications for the costs of borrowing.” S&P lowered Saudi Arabia’s rating on Friday to A+, five steps below the top grade, with a negative outlook. Saudi Arabia, OPEC’s biggest producer, has suffered as crude’s 40 percent slide in the past 12 months strains government spending in a country that gets at least 80 percent of its revenue from energy. Dubai is one of the seven members of the United Arab Emirates, whose oil reserves are the eighth-largest in the world. More»
Amwal Al Ghad English - 2015-11-01 09:36:18
Gulf stock markets fell in early trade Sunday after Standard & Poor's downgraded Saudi Arabia's sovereign debt while keeping a negative outlook on it because of low oil prices. The other two major rating agencies, Moody's and Fitch, have higher ratings for the kingdom. The government and Saudi companies have minimal foreign debt, so the downgrade will not have any direct financial impact. Nevertheless, S&P's action feeds into investor concern about the long-term direction of Saudi finances in an era of cheap oil, and about the fiscal tightening that Riyadh may have to conduct to get its budget deficit under control. This could in turn affect the rest of the region. The Dubai stock index sank 2.2 percent to 3,425 points after an hour, dropping below technical support around 3,500 points, which had supported it since early September. The size of the market's recent consolidation channel suggests a clean break of support would point down to the August low at 3,241 points. All of the market's 10 most heavily traded stocks dropped with builder Arabtec, which has projects in Saudi Arabia, dropping 6.1 percent. Abu Dhabi's index fell 0.6 percent. However, telecommunications firm Etisalat continued to edge up on hopes that after it opened its shares to buying by institutional investors, MSCI could add the stock to its emerging market index as soon as at its semi-annual review in the middle of next week. Qatar, seen as a defensive market because of high dividend yields and the Qatari government's comfortable financial position, edged down just 0.1 percent. More»
Amwal Al Ghad English - 2015-10-29 09:25:32
Middle East fund managers have on balance turned negative towards equities in the region because of low oil prices, instability in the global economy and the prospect of monetary tightening, a monthly Reuters survey says. The survey of 14 leading investment firms, conducted over the past week, shows 21 percent expect to cut their regional equity allocations in the next three months, and 7 percent to raise them. That is a big shift from last month's survey, when 33 percent said they expected to raise equity allocations and 7 percent anticipated cutting them. This month's survey is the most negative towards equities since May this year, when Gulf stock markets were peaking for 2015. Although growth in Gulf Arab economies has held up well this year, governments are expected to react to low oil prices by tightening fiscal policy next year, with the possible exception of Qatar. This may create a drag on markets, but the extent of that drag is not yet known because governments have not yet detailed their austerity measures. Meanwhile, the strength of the U.S. dollar, to which Gulf currencies are closely linked, and the prospect of U.S. interest rate hikes starting as soon as this year, have created the prospect of monetary tightening in the Gulf, which could be magnified as some governments borrow to cover budget deficits. That means fixed income is no safe haven for fund managers - 14 percent expect to reduce their allocations in that asset class and 7 percent to increase them. So more money may be kept in cash. "The widespread uncertainty in virtually every asset class is likely to continue as investors anticipate changes in monetary policy, review the unpredictable economic data and grapple with complex geopolitical issues," said V.Gowribalan, head of asset management at Ahli Bank in Oman. SAUDI, UAE Saudi Arabia in particular may be vulnerable to a slowdown, as the kingdom considers a range of steps - including domestic fuel price rises and cuts in state investment spending - to narrow a budget deficit that will exceed $100 billion this year. The market is too big and liquid to ignore, so many managers said they would continue buying stocks selectively there. But a substantial number foresee reducing their overall exposure; 36 percent expect to cut their Saudi equity allocations in the next three months and the same number to raise them. That compares with 33 percent expecting to raise Saudi allocations and 20 percent to cut them in last month's survey. "Whilst valuations in Saudi Arabia have fallen over a period of several months, we remain cautious and extremely selective," said Sachin Mohindra, portfolio manager at Abu Dhabi's Invest AD. "The Saudi economy is undergoing structural changes as it adjusts to a period of low oil prices, which means that the risk premiums used to value stocks need to be further adjusted, particularly in certain sectors. "We still prefer stocks that benefit from private consumption in the kingdom, and will continue to look at yield plays." The latest survey once again shows United Arab Emirates markets as heavily favoured over other regional bourses to ride out an era of cheap oil with relatively little damage. Fully half of managers expect to lift UAE equity allocations in the next three months and 7 percent to decrease them, compared to 53 percent and zero in the last survey. "We like the fact that the UAE is the most diversified economy in the region having only 35 percent of its oil related to GDP, a budget situation which is under control and market valuations which may not be attractive yet but are at least appealing," said Sebastien Henin, head of asset management at Abu Dhabi's The National Investor. SURVEY RESULTS 1) Do you expect to increase/decrease/keep the same your overall equity allocation to the Middle East in the next three months? INCREASE - 1 DECREASE - 3 SAME - 10 2) Do you expect to increase/decrease/keep the same your overall fixed income allocation to the Middle East in the next three months? INCREASE - 1 DECREASE - 2 SAME - 11 3) Do you expect to increase/decrease/keep the same your equity allocations to the following countries in the next three months? a) United Arab Emirates INCREASE - 7 DECREASE - 1 SAME - 6 b) Qatar INCREASE - 2 DECREASE - 2 SAME - 10 c) Saudi Arabia INCREASE - 5 DECREASE - 5 SAME - 4 d) Egypt INCREASE - 4 DECREASE - 1 SAME - 9 e) Turkey INCREASE - 1 DECREASE - 1 SAME - 12 f) Kuwait INCREASE - 1 DECREASE - 3 SAME - 10 Institutions taking part in the survey are: Ahli Bank Oman; Al Mal Capital; Al Rayan Investment LLC; Amwal Qatar; Arqaam Capital; Emirates NBD; Global Investment House; Invest AD; National Bank of Abu Dhabi; NBK Capital; Rasmala Investment Bank; Schroders Middle East; The National Investor; Union National Bank. More»
Amwal Al Ghad English - 2015-10-26 08:41:38
Gulf stock markets inched down in early trade Monday as investors remain concerned about the outlook for the Saudi Arabian market, where shares have been falling because of concern about next year's state budget. The Saudi index closed down 1.4 percent on Sunday, bringing its losses over four trading days to 6.7 percent, on worries that low oil prices would force Riyadh into spending cuts and tax increases. Saudi Arabia's weakness is dampening the entire region, even in countries such as the United Arab Emirates, which are relatively well placed to cope with an era of cheap oil. Dubai's index dropped 1.0 percent in the first 45 minutes of trade. HITS Telecom, which soared 10.2 percent on Sunday, was the most heavily traded stock and added a further 1.5 percent to 0.40 dirham as speculators bet that a long-term downtrend from around 1.20 dirhams in January 2012 might be ending. Abu Dhabi slipped 0.4 percent as blue chip Aldar Properties fell 1.3 percent. Qatar edged down 0.3 percent as drilling rig provider Gulf International Services fell 2.6 percent after reporting a 32 percent drop in third-quarter net profit to 216.9 million riyals ($59.6 million). QNB Financial Services had forecast 208.7 million riyals. But Doha Bank edged up 0.2 percent despite missing estimates with a 2 percent decline in third-quarter profit to 341 million riyals. Analysts polled by Reuters had forecast 358 million riyals. More»
Amwal Al Ghad English - 2015-10-22 17:40:33
Worries that Saudi Arabia may cut subsidies and state spending and raise taxes to cover its budget deficits in an era of cheap have oil once again hurt its stock market Thursday, with a negative effect on neighbouring markets. The International Monetary Fund said Wednesday that Riyadh was considering a wide range of fiscal reforms - many of which could hurt corporate profits, at least initially - to cope with a budget gap that would total well over $100 billion this year. That pushed the Saudi stock index down 2.7 percent on Wednesday and it slid a further 1.3 percent on Thursday. Petrochemical blue chip Saudi Basic Industries dropped 1.2 percent; the government could raise money by lifting subsidised, ultra-low gas feedstock prices for the industry. Banks were also weak with Alinma, the most heavily traded stock, down 2.1 percent. After dropping back in late August and September, five-year Saudi credit default swaps, used to insure against the risk of a sovereign debt default, have resumed rising and are around three-year highs above 130 points. That level implies a probability of default of less than 10 percent, but it still indicates Saudi Arabia is more likely to default than the Philippines, whose CDS are at 106 points. Telecommunications firm Etihad Etisalat (Mobily) plunged 10.1 percent after reporting a surprise third-quarter loss that it attributed to rising expenses, even though it slashed its capital spending. Rival Zain Saudi tumbled 4.0 percent after reporting a narrower third-quarter loss that matched analysts' forecasts. There were several gainers among the 10 most active stocks, however. Miner Ma'aden added 2.1 percent while Atheeb Telecom climbed 1.9 percent after reporting a 3.6 million riyal ($960,000) net profit for the third quarter, which was only its second quarterly profit since the start of 2012. GULF The United Arab Emirates and Qatar have stronger finances and are much more able to cope with cheap oil than Saudi Arabia, but a Saudi economic slump could hurt investor and consumer sentiment across the region. Dubai's stock index dropped 1.0 percent on Thursday. Construction firm Drake and Scull, which has considerable business in Saudi Arabia, fell 1.6 percent. Abu Dhabi slid 1.0 percent as real estate developer Aldar Properties sank 3.3 percent. Qatar's index lost 0.7 percent as Barwa Real Estate dropped 1.7 percent. But Qatar Gas Transport Co (Nakilat) rose 1.5 percent after posting a 7.6 percent rise in third-quarter net profit to 266.1 million riyals ($73.1 million); QNB Financial Services had forecast 274.8 million riyals. More»
Amwal Al Ghad English - 2015-10-21 08:46:41
Dubai's stock index slumped to a two-week low in early Wednesday trade as the prolonged fall in oil prices weighs on prices across the market. Bourse bellwether Emaar Properties fell 1.9 percent, rival developer Deyaar slipped 1.1 percent, and Dubai Financial Market dropped 1.7 percent. Two small-cap stocks, Gulf Navigation and Amanat Holding, accounted for nearly a third of the 33.3 million shares traded on the index as of 0710 GMT. The former was up 0.2 percent and the latter down 1.1 percent. Day traders often target minor companies when there is little else to speculate on because these have smaller free floats, making it easier to move their share price. Dubai's index fell 0.8 percent to 3,654 points, slumping to its lowest level since Oct. 6 as losers outnumbered gainers 20 to one. Abu Dhabi's benchmark was similarly weak, falling 0.7 percent as no stocks advanced. The sustained oil price slump has sapped Gulf confidence, while few companies in the United Arab Emirates have published third-quarter results, so investors may be waiting to see how the country's heavyweight firms have fared before committing more money to the market. Qatar dropped 0.6 percent and Oman and Kuwait were both down 0.1 percent. More»
Amwal Al Ghad English - 2015-10-20 09:17:49
Gulf stocks lacked direction in thin trading Tuesday, with a weak oil backdrop making investors shy of increasing risk. Worries about oversupply and the health of the global economy kept Brent crude gains capped. It edged up to $48.88 per barrel after a nearly 3 percent drop in the previous session. Dubai's stock index eased 0.2 percent to 3,695 points, keeping to the tight range of 100 points it has traded in for two weeks. Shares in Abu Dhabi and Qatar were almost flat, although Qatar Gas Transport (Nakilat) rose 2.8 percent, dominating trading volumes, after the firm raised its foreign ownership limit to 49 percent from 25 percent. Kuwait's benchmark gained 0.3 percent, attempting to break out of its sideways trend despite the suspension of some shares on Tuesday. Mostly small caps, these firms have either not reported earnings for the second quarter, not held shareholder meetings within the given time or are in the process of reducing capital. More»
Amwal Al Ghad English - 2015-10-19 09:17:59
Gulf stock markets moved narrowly in thin early trade Monday with very few fresh incentives to buy or sell stocks, though Commercial Bank of Qatar (CBQ) dropped after disappointing third-quarter earnings. Dubai's index edged down 0.5 percent to 3,689 points; it has repeatedly failed to make a decisive break of technical resistance above 3,700 points in recent weeks. The biggest Dubai bank, Emirates NBD, sank 2.3 percent in unusually heavy volumes. Abu Dhabi's index was flat; telecommunications blue chip Etisalat, which has risen 22 percent since late August, added a further 0.3 percent but the bulk of the 10 most heavily traded shares were unchanged. Qatar inched down 0.02 percent as CBQ, the Gulf Arab state's second-largest lender by assets, lost 1.8 percent. The bank had reported a quarterly net profit of 275.9 million riyals versus 486.5 million riyals a year earlier; analysts polled by Reuters had forecast 495.4 million riyals. More»