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 - 2015-06-17 09:57:28
Middle East stock markets look set to consolidate with a negative bias Wednesday as investors in the region prepare for the Muslim holy month of Ramadan, which begins Thursday and usually brings a period of very low trading activity. Trading volumes in most markets have already been declining in the last few days and some bourses, such as Egypt's stock exchange, are reducing trading hours during Ramadan. The Cairo market will close one hour earlier than usual, at 1130 GMT. Some market players had expected this Ramadan to be different in Saudi Arabia, which this week opened its market to direct foreign investment. But modest volumes in the first two days of trade after the opening indicate foreigners are in no rush to buy local stocks. Stock exchange data showed no fresh, significant purchases by licensed foreign investors on Tuesday. In Dubai, the arrival of Ramadan may reduce speculative activity, which has made the market very volatile in recent weeks and focused on mid-cap stocks such as Amlak Finance and Dubai Parks and Resorts. Oil prices have been nearly flat so far on Wednesday as firm demand meets strong output, with the market waiting for US storage figures later in the day. The US dollar also has not moved as investors wait for clues from a Federal Reserve meeting on when US interest rates are likely to rise. Asian shares are holding near three-month lows. More»
Amwal Al Ghad English - 2015-06-07 08:54:50
Dubai stocks led declines across most Middle East equity markets as investors took advantage of a four-day rally to sell positions before the start of the Muslim holy month of Ramadan. Qatari shares fell for a third day. The DFM General Index dropped 1.5 percent to 3,971.86 at 11:31 a.m. in the emirate. Dubai developers and construction companies led the slide, as Emaar Properties PJSC lost the most since May 27. The DFM Real Estate Index sank 2.1 percent, its biggest decline in a week. Qatar’s QE Index retreated 1.2 percent. “We are seeing some profit taking in Dubai this morning,” Ramez Merhi, a Dubai-based director for asset management at Al Masah Capital Ltd., which manages $500 million, said by e-mail. “With Ramadan on our doorstep and summer upon us we expect volumes to dry up while people partake in the holiday season.” More»
Amwal Al Ghad English - 2015-05-18 08:03:37
Gulf stock markets were mixed on Sunday after oil prices diverged while it remained unclear whether the truce in Yemen would be extended. Egypt's market extended losses on speculation that it might eventually lose emerging market status. Brent crude edged up on Friday but U.S. oil fell as traders and investors debated whether oil's rally over the past month and a half should continue amid stubbornly high supplies. In Yemen, a five-day humanitarian truce agreed last week was to end in the early hours of Monday, and no new agreements had been announced to extend it by the time stock markets closed on Sunday. More»
Amwal Al Ghad English - 2015-04-26 16:55:51
Most major Gulf stock markets, led by Dubai, went up on Sunday after the Brent oil price hit a 4-1/2-month high. Brent crude climbed to $65.80 a barrel on Friday because of continued fighting in Yemen and, although U.S. crude fell on concerns about another upcoming stock build, both benchmarks posted weekly gains. The main Saudi equities index gained 1.2 percent on Sunday to a 5-1/2-month closing high of 9,725 points as petrochemicals giant Saudi Basic Industries (SABIC), which would benefit from stronger oil, was the main support, jumping 3.5 percent. Saudi International Petrochemical Co (Sipchem) rose 4.0 percent, extending gains since it said last week that it had finished testing a new plastics plant owned by an affiliate.. Petrochemicals and metals firm National Industrialisation Co (Tasnee) added 2.8 percent after announcing it had picked contractors to build a titanium sponge plant for its majority-owned Cristal subsidiary. Retailer Jarir Marketing, which said on Sunday it had launched a new showroom in the city of Jazan, climbed 1.9 percent. Saudi Arabia's index still faces major technical resistance in the 9,572-9,745 point area, where the 200-day average roughly coincides with the March peak. Strong trading turnover in recent days suggests the resistance may break cleanly. UAE Dubai's index jumped 2.1 percent to 4,172 points, its highest close in nearly five months. The benchmark has risen 29 percent from a trough hit exactly one month ago. Trading focused on Bahraini investment firm Gulf Finance House, which surged its daily 15 percent limit, extending its recovery from record lows hit last month. The company completed a capital reduction last week, opening the way for possible dividend payments in future. Property developer DAMAC surged 7.1 percent after announcing on Sunday it had a development site on Al Reem Island in Abu Dhabi and the project there, which was awaiting approvals, would have a sales value of about 1 billion dirhams ($272 million). It provided no further details. Sanyalak Manibhandu, manager of research at NBAD Securities in Abu Dhabi, said Dubai investors were encouraged by strong results from United Arab Emirates banks which were mostly ahead of analysts' forecasts and showed that the level of deposits had not suffered from oil's plunge. "The past three to four weeks have been very strong, the market seems to have passed fundamental and technical tests," he said. "If it holds in the 4,100-4,200 area, you could see 4,500 (soon)." Union Properties and Aramex which will register shareholders for dividend payouts this week, gained 2.7 and 3.1 percent respectively. Abu Dhabi's market added 0.8 percent thanks to Abu Dhabi Commercial Bank, which jumped 2.2 percent. The lender posted a 31 percent leap in first-quarter profit last week, beating analysts' forecasts. Qatar's index inched down 0.1 percent mostly because of top lender Qatar National Bank, which fell 1.0 percent on very low volume. Property firms Ezdan Holding and United Development egded up 0.3 percent each ahead of earnings announcements. Ezdan posted a 13.4 percent increase in first-quarter profit after the close, while United Development said its profit had risen 8.5 percent. SUNDAY'S HIGHLIGHTS SAUDI ARABIA * The index rose 1.2 percent to 9,725 points. DUBAI * The index jumped 2.1 percent to 4,172 points. ABU DHABI * The index rose 0.8 percent to 4,666 points. QATAR * The index slipped 0.1 percent to 12,040 points. KUWAIT * The index edged up 0.2 percent to 6,341 points. OMAN * The index slipped 0.2 percent to 6,347 points. BAHRAIN * The index fell 0.9 percent to 1,385 points. More»
Amwal Al Ghad English - 2015-04-26 07:47:54
Stock markets in the United Arab Emirates may face more selling pressure on Sunday after investors started booking profits at the end of last week following strong rallies. Stock indexes in Dubai and Abu Dhabi fell 1.1 and 1.6 percent respectively on Thursday after both hit their 2015 highs a day earlier. Dubai had risen 30 percent from its March trough to last week's peak while Abu Dhabi had climbed 11 percent from its 2015 bottom, also hit last month. Some stocks' rebound was even more spectacular. Dubai's Union Properties, for instance, had surged 74 percent from its March low by Wednesday; the stock fell 2 percent on Thursday. The board of bourse operator Dubai Financial Market will discuss its first-quarter results at a meeting later on Sunday, after the market closes. It may post a profit decline as the value of securities traded on the bourse during the quarter shrank by about two-thirds year-on-year, according to exchange data. However, positive news may support some companies such as DAMAC, which said on Sunday it had a development site on Al Reem island in Abu Dhabi and the project there, which was awaiting approvals, would have a sales value of about 1 billion dirhams ($272 million). It provided no details. More»
Amwal Al Ghad English - 2015-04-23 18:32:51
Gulf stock markets were narrowly mixed Thursday while Egypt extended its recovery after a fresh cash injection from the oil-rich Gulf states. Brent crude oil rose above $63 a barrel on Thursday as Saudi-led air strikes in Yemen continued despite an earlier announcement by Riyadh that the campaign was ending. Geopolitical tensions are a modest negative for many retail investors in the Gulf, but stronger oil is widely seen as positive. Saudi Arabia's stock index edged up 0.4 percent thanks to petrochemicals. Saudi International Petrochemical Co (Sipchem) surged 4.8 percent and was the main support. The firm said this week that it had finished testing a new plastics plant owned by an affiliate.. National Shipping Company of Saudi Arabia (Bahri), which Reuters reported this week is looking to buy up to 10 tankers for about $1 billion, jumped 3.9 percent. Al Rajhi Company for Cooperative Insurance climbed a further 3.0 percent after earlier this week reporting a 47 percent jump from a year earlier in first-quarter net profit, aided by strong growth in net contributions and lower policy acquisition costs. Saudi Arabia's index continues to struggle with major technical resistance in the 9,572-9,745 point area, where the 200-day average roughly coincides with the March peak. UAE, EGYPT Dubai's index fell 1.1 percent largely because of Emaar Properties, the emirate's biggest listed developer, which dropped 3.1 percent as its shares went ex-dividend. Builder Arabtec fell 3.7 percent after failing, because of the lack of a quorum, to hold an annual shareholder meeting which was due to approve a bonus share issue, and postponing the meeting by a week. Among major gainers, Dubai Parks and Resorts was one of the market's most heavily traded stocks, climbing as much as 7.1 percent to a record high of 0.994 dirham during the day after disclosing on Wednesday more details of its planned $2.9 billion amusement park complex, which is to be completed in 2016. The stock closed 4.4 percent higher on its heaviest volume in seven weeks. Commercial Bank of Dubai rose 4.0 percent after posting a 3.6 percent increase in first-quarter profit. Abu Dhabi's stock index fell 1.6 percent as major lender First Gulf Bank sank 3.8 percent after reporting first-quarter net profit of 1.42 billion dirhams ($386.7 million), slightly short of the average analyst forecast of 1.51 billion dirhams. The stock had jumped 2.3 percent on Wednesday in anticipation of strong earnings and was up 19 percent from its March low, so it was vulnerable to profit-taking. Qatar's index edged up 0.5 percent as most stocks rose. Project awards, one of the key drivers of economic growth, accelerated during the first quarter in Qatar and Kuwait while slowing in Saudi Arabia and the United Arab Emirates, Abu Dhabi Commercial Bank said in a report on Thursday. Conglomerate Mannai Corp gained 1.1 percent after saying its first-quarter profit climbed 10.1 percent from a year earlier to 165.2 million riyals ($45.4 million). However, Commercial Bank of Qatar dropped 2.8 percent. It posted a 15.3 percent drop in first-quarter net profit to 452.3 million riyals; analysts had on average forecast 546.9 million riyals. Kuwait and Oman edged up 0.4 and 0.2 percent respectively. Egypt's index climbed 1.2 percent, building on Wednesday's 0.6 percent gain, which followed five sessions of declines. Heavyweight Commercial International Bank climbed 1.1 percent. The lender said this week it would submit a binding offer to acquire Citigroup's retail portfolio in Egypt. Saudi Arabia, Kuwait and the United Arab Emirates deposited $6 billion with Egypt's central bank on Wednesday, the bank's governor told Reuters. The news confirmed previous pledges of aid but may have aided market sentiment. THURSDAY'S HIGHLIGHTS SAUDI ARABIA * The index edged up 0.4 percent to 9,615 points. DUBAI  * The index fell 1.1 percent to 4,088 points. ABU DHABI * The index lost 1.6 percent to 4,632 points. QATAR * The index rose 0.5 percent to 12,050 points. EGYPT * The index rose 1.2 percent to 8,731 points. KUWAIT * The index edged up 0.4 percent to 6,331 points. OMAN * The index climbed 0.2 percent to 6,360 points. BAHRAIN * The index slipped 0.2 percent to 1,398 points. More»
Amwal Al Ghad English - 2015-04-22 08:20:03
Saudi Arabia's decision to end a campaign of air strikes against Yemen's Houthi rebels may support equities in the kingdom and across much of the Middle East on Wednesday. Riyadh announced late on Tuesday it was ending a month-long offensive against the Houthis, who seized large areas of Yemen, and said it would back a political solution to bring peace to its war-ravaged neighbour. The Yemen fighting was never a big concern for financial markets, which believed the Gulf states could prevent the conflict from spreading beyond Yemen's borders; bond yields and credit default swaps barely moved in response to the violence. Nevertheless, the fighting did unsettle some investors in the Gulf and Egypt, and stock markets across the region fell by several percent after the military campaign began. Its completion may help to reverse those losses. More»
Amwal Al Ghad English - 2015-04-21 07:58:16
Most Gulf stock markets rose in early trade on Tuesday, with new real estate projects boosting bourses in the United Arab Emirates and banks supporting Qatar after strong first-quarter earnings. Dubai's index jumped 2.0 percent as developer Union Properties surged 10.7 percent. Gulf Business magazine reported on Monday that the firm had set up a joint venture with Saudi Arabia's Naif Al Rajhi Investments to develop real estate projects in the kingdom. Also, news website on Tuesday quoted a Union Properties manager as saying the firm would start construction of a 430 million dirham ($117 million) project in Dubai this month. Another property firm, DAMAC, jumped 2.7 percent ahead of a board meeting later in the day which will discuss first-quarter results and dividend policy. Dubai-listed shares in Bahrain's Gulf Finance House surged 11.7 percent as they resumed trading after a capital reduction which may open the way for future dividend payments. GFH's Kuwait-listed shares surged 8.0 percent. The firm said on Sunday that it would maintain a listing in Kuwait, along with those in Dubai and Bahrain, but would delist from London. More»
Amwal Al Ghad English - 2015-04-19 07:54:14
Saudi Arabia's stock market may rise on Sunday after the regulator said it would open the bourse to direct foreign investment from June 15. Strong oil prices may also support investor sentiment across the Gulf. The kingdom announced last July that it would permit direct foreign purchases of shares in the first half of 2015, as a way to expose companies to market discipline, diversify the economy beyond oil and create jobs. The Capital Market Authority announced after the close on Thursday that qualified foreign institutions would be able buy shares from mid-June and the final rules covering this would be published on May 4. Up to now, foreigners have been restricted to buying Saudi shares indirectly through swaps or exchange-traded funds. Fresh fund flows into Saudi Arabia in the initial months may be moderate - perhaps only hundreds of millions of dollars a month - partly because share valuations are currently quite high. But the announcement may nevertheless buoy sentiment, while the market opening is likely to start the process of incorporating Saudi Arabia into major equity indexes such as those run by MSCI, which will eventually attract tens of billions of dollars. More»
Amwal Al Ghad English - 2015-04-15 07:42:30
Stock markets in Saudi Arabia, Dubai and Oman may rise on Wednesday after a series of mostly positive first-quarter earnings reports, while stronger oil may support investor sentiment in the Gulf. Brent crude rose 1 percent in Asian trade on Wednesday after signs of a dip in U.S. production, although gains were capped by Chinese quarterly economic growth slowing to a six-year low. Saudi Arabia's biggest lender, National Commercial Bank (NCB), posted a 2.8 percent rise in first-quarter net profit on Tuesday to 2.61 billion riyals ($696 million). This was above SICO Bahrain's quarterly profit forecast of 2.15 billion riyals. Smaller lender Bank Al Jazira posted a 42.8 percent jump in first-quarter profit, well ahead of the estimate of Albilad Capital, which had predicted a 13 percent increase. More»