amwalalghad :: Arab

Your English Portal To Arab Economy

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        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        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        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        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        Cairo Poultry   8.32        ARAB POLVARA SPINNING & WEAVIN   2.11        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 - 2015-10-22 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»
Amwal Al Ghad English - 2015-10-18 08:58:21
Gulf stock markets edged up early Sunday in response to a positive global trend, though trading volumes were moderate. The Dubai index climbed 0.5 percent as the most heavily traded stock, GFH Financial, added 2.0 percent. The company said it had agreed to acquire an industrial real estate portfolio in the United States in a deal worth $125 million -- potentially a fresh sign that it is putting its debt restructurings behind it. More»
Amwal Al Ghad English - 2015-10-14 14:20:41
Most Gulf stock markets fell in modest trading volumes Wednesday with the weakness of global equity markets putting a dampener on activity as well as the approach of a holiday in many countries on Thursday to mark the Islamic New Year. Dubai's stock index fell 0.4 percent as real estate blue chip Emaar Properties lost 1.6 percent. Abu Dhabi dropped 0.6 percent as banks were weak, with National bank of Abu Dhabi retreating 0.9 percent. Abu Dhabi's United Arab Bank reported a net profit of 72 million dirhams ($19.6 million) for the first nine months of 2015, sharply down from 498 million dirhams a year earlier. It said profit was hit by third-quarter loan provisions of 466 million dirhams following a significant increase in loan defaults in UAB's higher risk commercial loan portfolio. The highly illiquid stock did not trade on Wednesday, but the provisions may show that smaller United Arab Emirates banks are starting to feel the pain of tighter liquidity and deteriorating asset quality due to low oil prices and could be a negative signal for the banking sector as a whole. Qatar's index slipped 0.7 percent as Vodafone Qatar, the most heavily traded stock, pulled back 1.8 percent. But Qatar Fuel Co (Woqod) added 1.9 percent. Saudi Arabia's market, which will remain open on Thursday, performed relatively well with the index edging up 0.1 percent to 7,785 points. It has been flirting this week with technical resistance at 7,812-7,953 points, its highs in September and at the end of August. Major petrochemical producer Saudi Basic Industries slipped in early trade but closed 2.3 percent higher, a sign of improving sentiment towards the beaten-down sector. The stock is up 14 percent since the end of last month. Some second-tier stocks moved in response to third-quarter earnings. National Company for Glass Industries sank 4.4 percent after reporting a 63 percent plunge in quarterly profit. The Egyptian and Kuwaiti bourses were closed for the Islamic New Year on Wednesday; Egypt is to reopen on Thursday. More»
Amwal Al Ghad English - 2015-10-14 11:56:37
Saudi Arabia's stock market was slightly softer in early trade Wednesday because of weak petrochemical shares, while some second-tier stocks moved in response to third-quarter earnings. Top petrochemical producer Saudi Basic Industries edged down 0.3 percent. A strong rebound in the stock has stalled in the past couple of days after oil prices fell back. More»
Amwal Al Ghad English - 2015-10-12 07:38:23
Oil-related shares rose in Qatar early Monday but most stocks in the Gulf were quiet with few new incentives to trade. Brent oil edged up a further 0.7 percent to $53.0 a barrel in early Asian trade on Monday, extending a strong rebound since last week. Gulf oil officials sounded bullish at a conference in Kuwait on Sunday evening, and Qatar's energy minister declared the oil price had bottomed out. This helped Qatari drilling rig provider Gulf International Services climb 2.3 percent and Qatar Fuel Co gain 1.9 percent on Monday. Most of the Qatar market moved little, however, with the index up 0.3 percent. Dubai's stock index edged down 0.03 percent although commodities shipper Gulf Navigation added 3.1 percent. Abu Dhabi's index was flat but Agthia Group rose 0.5 percent after saying it had agreed to acquire three small companies involved in water bottling and purification in Dubai and Oman. More»
Amwal Al Ghad English - 2015-09-29 08:01:54
Saudi Arabia's stock market may be weak when it reopens on Tuesday after a long Eid al-Adha break, as oil prices and global equity prices sag. Brent crude has dropped more than 3 percent to just above $47 a barrel since the Saudi bourse last traded on Monday last week, while MSCI's broadest index of Asia-Pacific shares outside Japan is down 2.3 percent on Tuesday. Also, many Saudi investors may remain on holiday this week, keeping turnover low. The Saudi market's weakness may dampen other Gulf bourses. Qatar and Bahrain will also reopen on Tuesday after Eid; United Arab Emirates markets have been mixed in sluggish trade since they resumed trading on Sunday. Dubai's Air Arabia may sees some selling after its chief executive said on Monday that its earnings might see a further negative impact for the next two quarters from fuel hedges put in place prior to the steep drop in oil prices - though he added that cheap fuel would benefit the airline in the long run. Egypt's market may be dampened by the poor performance of global equities. Nevertheless, the Cairo market has shown preliminary technical signs in recent days of beginning to bottom out from its long downtrend since February. The main Cairo index's 0.9 percent rise to 7,409 points in active trade on Monday confirmed a bullish right triangle formed by the highs and lows since late August - a positive short-term reversal pattern. More»
Amwal Al Ghad English - 2015-09-27 14:33:23
United Arab Emirates stock markets edged down in thin trade Sunday as they reopened after a break for Eid Al-Adha, with no major corporate news to move shares and the global market environment slightly negative. The Dubai stock index slipped 0.6 percent in its lowest daily trading volume since April 2013, with many investors still on holiday. Activity focused on smaller-capitalised, low-priced stocks favoured by local retail investors rather than institutions. GFH Financial Group, the most heavily traded stock, rose 0.6 percent, but builder Arabtec dropped 2.7 percent and Shuaa Capital lost 6.2 percent. Dubai Parks and Resorts gained 0.8 percent after local press coverage of attractions at the theme parks which it plans to open next year. The Abu Dhabi index edged down 0.4 percent as telecommunications blue chip Etisalat lost just as much and major developer Aldar Properties slid 0.8 percent. Oman's stock market drifted up 0.2 percent, but most major Middle East bourses remained closed for Eid, with Egypt due to reopen on Monday and Saudi Arabia and Qatar on Tuesday. Since Gulf markets shut for Eid last Tuesday, Brent oil has fallen nearly 1 percent to $48.60 a barrel, while MSCI's all-country world equities index has dropped 0.6 percent. More»