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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        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        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        


The Watch - forex news

Amwal Al Ghad English - 2015-05-20 10:39:40
A group of Bank of America analysts in a Tuesday note to clients, reiterated their bullish calls on the dollar-yen pair, dollar-euro pair and U.S. Treasurys. But in their outlook for the euro-dollar pair, they went a step further and called a top to the shared currency’s recent gains. From here on out, they said, investors should sell the euro on bounces. On Tuesday, the euro EURUSD, -0.3498% recorded its worst one-day performance against the dollar in two months, trading around $1.1150 in the afternoon, compared with $1.1332 yesterday. Treasurys, like the dollar, have so far defied near-unanimous predictions that yields would rise in 2015, as negative rates in Europe forced foreign investors to park their money in Treasurys. Treasury yields move inversely to prices. The dollar-yen, meanwhile, hasn’t moved outside a range of between ¥118.4 and ¥122 for about four months. The dollar USDJPY, +0.16% was trading around ¥120.7 Tuesday, up from 1¥19.97 Monday. According to the analysts, the euro broke through a key support level earlier Tuesday when it fell below $1.1131, its low from May 11. They now expect the shared currency to meet with resistance around $1.0535, before falling to $1.0462, its March 16 low. Then, it is on to their long-term target of $1.0283. Here’s what B.of A. had to say about the dollar-yen pair: Evidence continues to say that the contracting range of the past 4+ months is drawing to a conclusion and the long-term uptrend is set to resume for 124.59, ahead of 128.45. Below 118.33 invalidates this view and points to continued range-trading. Those awaiting additional price confirmation should watch for a break 120.86 (Apr-13 high). We recommend adding to long positions on a break 120.86. And on Treasurys: Despite this morning’s rise in 10yr (and 30yr) Treasury yields, we remain bullish. Looking specifically at 10s, not only did the yield fail to break the 18m trendline support (now 2.294%) but the market is forming a potential month-to-date Head and Shoulders Top. Below the neckline at 2.144% completes the pattern, targeting year-to-date channel base at 1.919% and potentially below. So, for every investor who has taken a beating on the dollar and Treasury trade this year, Bank of America’s message is this: Keep the faith a little bit longer. Change is just around the bend. More»
Amwal Al Ghad English - 2015-05-20 09:05:40
Crude oil prices bounced back on Wednesday from steep falls in the previous session as strong Japanese economic growth surprised markets and the consumer outlook in Australia seemed to brighten, stoking producer hopes of increased demand. Japan's economy, the world's third largest, expanded at an annualized rate of 2.4 percent in the first three months of this year, above a median market forecast for a 1.5 percent rise and following a revised 1.1 percent expansion in October-December, official data showed. "Japan is one of the major importers of crude oil and growth in this region would definitely be favorable for crude demand," Singapore-based brokerage Phillip Futures said. More»
Amwal Al Ghad English - 2015-05-20 08:43:19
The euro slid to a two-week low and a rally in European shares stalled on Wednesday after a Greek official said the country may not make an upcoming repayment to the International Monetary Fund. The euro's fall follows remarks from a European Central Bank board member on Tuesday that the central bank could increase the pace of its bond-buying in May and June, bringing its losses against the dollar this week to more than 3 percent. The pause in European shares mirrored the sticky performance of Asian bourses, although the Nikkei in Tokyo jumped to a 15-year high after Japan posted surprisingly strong economic growth for the first quarter. European bank shares were in focus were in focus after Switzerland's UBS (UBSG.VX) paid $545 million to settle with U.S. authorities over currency rigging. Four other global banks are expected to settle later on Wednesday. Ahead of minutes from the U.S. Federal Reserve's Open Market Committee due later on Wednesday, the focus for investors will likely be on Greece and the euro's steep fall this week. More»
Amwal Al Ghad English - 2015-05-18 07:53:28
The dollar clawed its way higher but remained not far from a three-month low against the euro in Asian trade on Monday after downbeat U.S. economic data raised bets that the Federal Reserve will wait longer to raise interest rates. Industrial production fell for a fifth straight month in April and consumer confidence sagged in early May, quashing any remaining expectations that the U.S. central bank will begin raising rates as early as next month and backing the case that policymakers would hold off until September or December. The euro was buying $1.1436 EUR=, down about 0.1 percent on the day but not far from its Friday peak of $1.1468, as investors and strategists mulled how far its rally can run. More»
Amwal Al Ghad English - 2015-05-18 07:40:32
Oil prices rose on Monday following fighting in Iraq and Yemen, but Iranian comments that OPEC was unlikely to cut output as well as signs of strengthening U.S. production capped gains. Front-month Brent futures LCOc1 were up 1 percent, or 65 cents, at $67.46 a barrel by 11.54 a.m. ET. U.S. crude CLc1 rose 79 cents to $60.48. Prices were supported by concerns that conflict in Iraq and Yemen could disrupt supplies after Islamic State militants said they had taken control of the Iraqi city of Ramadi in a big blow to the government. More»
Amwal Al Ghad English - 2015-05-17 09:03:49
A rekindling of the inflation outlook that helped trigger German government bonds’ worst weekly run since 2012 faces scrutiny next week with the release of final data on euro-area consumer prices for April. Bonds across the euro-area fell this week, extending a slump that wiped as much as 344 billion euros (US$393 billion) off the market capitalization of the Bloomberg Eurozone Sovereign Bond Index. That’s after the securities surged in the first quarter, when the European Central Bank began its bond-buying plan to support waning price growth in the region. More»
Amwal Al Ghad English - 2015-05-16 08:45:13
The dollar fell to a three-month low against the euro on Friday, as disappointing data on U.S. domestic factory activity and consumer sentiment spurred doubts about the recovery in the world's largest economy. Against a basket of six major currencies, the dollar fell for a fifth straight week, the longest stretch of declines in four years. The dollar index was last down 0.3 percent at 93.204 .DXY. "The weak U.S. data has put a damper on hopes for a September rate hike, and with that, the U.S. dollar's upward momentum will need much more in order to resume," said Adam Munguia, foreign exchange advisor, at Bank of the West in San Ramon, California. More»
Amwal Al Ghad English - 2015-05-14 13:17:54
In the UAE, gold jewellery business lost some of its sheen in the first quarter. Demand for gold jewellery in the UAE fell, but to a smaller extent compared with the wider Middle East as it was tempered by the Dubai Shopping Festival and purchases from Indian residents ahead of the Akshaya Tritiya festival, according to the World Gold Council. Consumer demand for gold from the region dropped 18 per cent to 83.6 tonnes in the Middle East in the first three months of the year from 102.3 tonnes in the same period last year, the council said. That was mainly owing to a sharp drop in demand from Egypt amid a flare-up in violence. As a result, demand for gold jewellery in Egypt dropped 31 per cent, its lowest level since the second quarter of 2012. Meanwhile in the UAE, demand for gold jewellery only fell 8 per cent to 16.5 tonnes in the first three months of the year from 18 tonnes in the corresponding period last year. Junaid Khan, the head of trading – treasury at National Bank of Fujairah, said demand for gold “remained weak given its position against the dollar over the last 14 months”. “Despite these negative factors, we feel investors and consumers are likely to stage a comeback in the quarters ahead.” Pradeep Unni, the head of trading for commodities and currencies at Richcomm Global Services in Dubai, said that the Dubai Shopping Festival during the early part of the year supported the market well. “The UAE is largely a trade centre and also a favourite tourist destination; thus jewellery and gold trade here is unlikely to mirror the demand trends in other parts of the world,” Mr Unni added. About 2.6 million Indians live in the UAE, making them the biggest expatriate population in the country. Hindus typically buy gold on the occasion of Akshaya Tritiya, when buying bullion is thought to impart good luck and increase wealth. “Akshaya Tritiya is gaining traction in the market as a gold buying occasion, catering to the expat Indian community,” the report said. “This emerging trend has positive implications for future demand given the size of the Indian population.” Demand for gold jewellery in India rose 22 per cent in the first quarter to 150.7 tonnes from 123.5 tonnes in the corresponding time frame the previous year. The World Gold Council said that outlook for demand in India remained strong because of expectations the country’s economy will continue to grow following the election of the economic reform-minded prime minister Narendra Modi last year. Retailers in India reported an increase of growth in sales of 10 to 15 per cent because of buoyant demand for gold during the Akshaya Tritiya festival. Globally, the demand for gold slipped 1 per cent to 1,079.3 tonnes as a pick-up in demand in India and the US was outweighed by a drop in demand from China, where a rally in equities attracted funds that might have gone into gold buying. Gold had its first annual price decline in 2013 since 2000 as investors sold the metal and loaded up on equities and other assets to take advantage of cheap money made available by central banks to stimulate economic growth. Gold, the safe haven asset bought in times of trouble and high inflation, dropped 28 per cent in 2013, its biggest yearly fall since 1981. Last year gold slipped 0.3 per cent and so far this year it is up 1.7 per cent. Declines in bullion prices have not been bad for everyone because demand for physical gold is still healthy. In Asian and Middle Eastern emerging markets such India and Egypt that have volatile currencies, individuals have increased gold purchases to preserve the value of their wealth. More»
Amwal Al Ghad English - 2015-05-14 07:24:00
The U.S. dollar was broadly lower on Thursday after poor U.S. retail sales figures proved a huge disappointment to those expecting a strong American economic rebound from a weather-weakened first quarter. Spreadbetters expected higher bond yields resulting in a slightly lower open for Britain's FTSE, Germany's DAX and France's CAC. Investors reacted by pushing back the likely lift-off date for a rate hike by the Federal Reserve, giving gold a steer to five-week highs above $1,218 an ounce. Yet in a bizarre turn, German and U.S. bond yields still surged to their highest in over five months as a vicious selloff extended to its 10th session. More»
Amwal Al Ghad English - 2015-05-14 07:12:51
Oil slipped on Thursday as weak data from the world's top economies raised concern about the outlook for global fuel demand, offsetting data that showed a large drawdown in U.S. crude stockpiles last week. China, the world's top energy consumer, saw its economy losing more steam in April despite easier monetary policy, while Europe's largest economy, Germany, slowed in the first quarter. In the United States, retail sales were flat in April, dampening hopes of a sharp rebound in growth in the second quarter. "We've had a round of very weak data in the last 24 hours and that's offset the strength that we would normally expect to come through from a larger than expected draw in U.S. inventories," said Michael McCarthy, chief strategist at CMC Markets in Sydney. More»