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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        


The Watch - Indices news

Amwal Al Ghad English - 2014-09-20 05:58:45
The asset with the greatest prowess of late has been the U.S. dollar, and if its rally continues, it threatens to eat into the earnings of multinational companies. The greenback's recent gains have lifted the dollar index .DXY - a measure of the dollar's value relative to six currencies - for 10 consecutive weeks. That marks the dollar’s longest rally since the index was created in 1973 - and could pose significant headwinds to dollar-sensitive sectors of the market, particularly companies that respond to commodity prices affected by the greenback, and multinationals that do much of their business overseas. “For the past few years, the U.S. dollar has been trading in a relatively quiet trading range. This summer, something changed. We are now seeing a new uptrend develop,” said Adam Sarhan, founder and CEO of Sarhan Capital in New York. Analysts have already pointed fingers at the dollar for the decline in prices of commodities like precious metals, corn and oil in recent weeks. U.S. multinationals with large streams of revenue from overseas also stand to lose. More»
Amwal Al Ghad English - 2014-09-18 06:40:15
Japanese shares jumped on Thursday after the dollar vaulted to a six-year peak on the yen as the Federal Reserve's outlook for rising rates underlined the diverging path between the United states and the rest of the rich world. In other regional share markets, the reception was mixed, with MSCI's index of ex-Japan Asian shares falling to 12-week lows, on the spectre of rising U.S. rates and slower economic growth in China. Still, with the Fed renewing its pledge to keep interest rates near zero for a considerable time, European shares are expected to open firmer. Spreadbetters see both Britain's FTSE .FTSE and France's CAC40 .FCHI rising 0.2 percent.While the Fed maintained language suggesting that rate hikes would not happen for a "considerable time," it also indicated Fed policymakers think it could raise borrowing costs faster than expected when it starts moving. [TOP/CEN] More»
Amwal Al Ghad English - 2014-09-17 06:51:37
The U.S. dollar firmed on Wednesday, recovering from a setback in the previous session as investors awaited the Federal Reserve's latest guidance on U.S. interest rates. The Fed's Open Market Committee will conclude its regular two-day policy meeting later in the session, at which it is expected to discuss the timing of the next U.S. rate increase. Policymakers will also release fresh economic and interest-rate projections, extending their forecasts through 2017. The greenback came under pressure overnight after the Wall Street Journal's Fed watcher said the U.S. central bank may keep the words "considerable time" in its policy statement, which would disappoint dollar bulls hoping for a more hawkish statement.   Markets have been bracing for the Fed to drop its promise to keep rates near zero for a "considerable period" after ending its bond-buying program. Fed officials have said they do not expect to raise rates until 2015, but recently strong U.S. economic data has led some of them to acknowledge they may need to act sooner than they previously thought. The panel may also alter its depiction of the labour market to suggest further progress toward its goal of full employment. More»
Amwal Al Ghad English - 2014-09-16 06:55:56
Vimpelcom Ltd has agreed to sell its stake in Canadian wireless carrier Wind Mobile to its current partner Globalive for around C$300 million ($272 million), a source with knowledge of the matter said on Monday. The Wall Street Journal had reported that the transaction would be partly funded by an investor group led by Canadian hedge fund West Face Capital Inc. Vimpelcom declined to comment. A spokeswoman for West Face was not immediately available for comment. More»
Amwal Al Ghad English - 2014-09-15 07:30:51
Moody's Investors Service says the strong growth momentum in the sovereign sukuk market should be sustained, as both Islamic and non-Islamic governments aim to tap increased demand for Shari'ah-compliant financial assets and further support their policy goals for Islamic finance. Moreover, demand and liquidity in the market should improve as the sector attracts more global investors. "The year 2014 has become a landmark year for sovereign sukuk, with the UK issuing its inaugural sukuk, and with Hong Kong and South Africa expecting to conclude sales in September 2014. All three are major non-Islamic countries, and the transactions indicate a significant change in the potential size, depth and liquidity of this market," highlights Khalid Howladar, Moody's Global Head for Islamic Finance. Moody's estimates that total sovereign sukuk outstanding now accounts for more than 36% of the $296 billion of outstanding sukuk as of July 2014. Moreover, Moody's expects sovereign sukuk issuance will exceed 2013 levels to reach around $30 billion by year-end 2014, with the overall outstanding amount to reach $115 billion. Moody's also forecasts a continued expansion in the number of sukuk-issuing governments into 2015. "Malaysia and more recently Indonesia have been driving the growth in sovereign sukuk with sales in their domestic markets," notes Christian De Guzman, a Moody's Vice President and Senior Analyst. More»
Amwal Al Ghad English - 2014-09-13 06:06:16
The dollar index posted its ninth consecutive week of gains on Friday and the U.S. currency rose to six-year highs against the yen on speculation that the Federal Reserve may strike a more hawkish tone when it meets next week. A recent string of improving economic data has raised expectations that the Fed may act sooner to raise interest rates, a move most investors expect will begin next year. U.S. retail sales data on Friday that showed spending rose broadly in August added to these expectations. "The general message on the economy is that it’s improving, but we still have a lot of slack to take up," said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida. U.S. consumer sentiment also rose in September to its highest in more than a year on more upbeat views on the domestic economy in the coming year, a survey released on Friday showed. More»
Amwal Al Ghad English - 2014-09-02 08:41:00
The dollar hit its highest since January against the yen on Tuesday while a struggling euro sank to a one-year low against the greenback on expectations of a more aggressive easing program in the euro zone. The European Central Bank will hold a policy meeting and news conference later this week, which will be closely watched for any signs that ECB President Mario Draghi is moving towards full-scale quantitative easing - effectively the printing of money - to boost the flailing euro zone economy. Since Draghi said he would use "all the available instruments" to ward off the threat of deflation at a U.S. Federal Reserve conference in Jackson Hole last month, speculation that the ECB will introduce QE has ramped up.   Data added fuel to that speculation on Monday: euro zone factories barely increased prices last month, and manufacturing activity in France fell at the fastest pace in 15 months. A separate report confirmed the German economy contracted for the first time in over a year in the second quarter. That all helped to send the euro to a trough of $1.3115 EUR= on trading platform EBS on Tuesday, its lowest since September 2013. But some said that the market might be expecting too much from Thursday's meeting. More»
Amwal Al Ghad English - 2014-09-01 08:50:18
The euro hit a fresh one-year low on Monday, as heightened worries about the crisis in Ukraine kept the currency on the defensive ahead of a European Central Bank policy meeting later this week. The euro fell as far as $1.3119 EUR=, reaching lows not seen since early September 2013. It last traded at $1.3125, down 0.1 percent on the day. Ukrainian President Petro Poroshenko warned a "full-scale war" was imminent if Russian troops continued an advance in support of pro-Moscow rebels as Europe and the United States threatened Russia with new sanctions. Analysts said the risk to euro zone growth posed by the Ukraine conflict and stubbornly low inflation should keep the pressure on the European Central Bank to provide further stimulus at some stage, if not this week. While the euro could gain on short-covering if the ECB were to stand pat at its policy meeting on Thursday, any respite is likely to be short-lived, said Masashi Murata, currency strategist for Brown Brothers Harriman in Tokyo. More»
Amwal Al Ghad English - 2014-08-31 06:26:52
Capital Intelligence (CI), the international credit rating agency, announced that it has affirmed Egypt's Long-Term Foreign and Local Currency Sovereign Ratings of 'B-' and its Short-Term Foreign and Local Currency Ratings of 'B'. The affirmation of Egypt's ratings takes into account: (a) the stabilisation of short-term financing risks, in large part due to the availability of financial assistance from friendly states and international donors; (b) the gradual adoption of fiscal consolidation measures aimed at reducing the large budget deficit; and (c) the improving security situation. Nevertheless, the ratings continue to be constrained by the fundamental weaknesses of the Egyptian economy and public finances, as well as by political risk factors. CI notes that near-term external financing risks have receded due to the financial support received from the member states of the Gulf Cooperation Council, (GCC). Since July 2013, GCC states have pledged total support to Egypt in the region of $18.9 billion (6.6 per cent of Egypt's GDP), most of which has been disbursed. This support has been in the form of cash donations, interest-free loans, development related financing, oil and oil products. CI considers it likely that financial support from bilateral lenders will continue over the short to intermediate term in view of Egypt's regional importance and Saudi Arabia and the UAE's political support for the new Egyptian government. International reserves are expected to increase during 2014-16 – provided that the political situation does not deteriorate – but are unlikely to reach pre-crisis levels. Nevertheless, CI expects foreign reserves to provide broadly adequate coverage of short-term external debt (on a remaining maturity basis) and a reasonable buffer against moderate external economic shocks. However, an increase in Egypt's external financing needs could offset the growth in foreign reserves and lead to renewed balance of payments pressures. Egypt's ratings continue to be supported by the country's comparatively low level of external debt, which stood at 16.4 per cent of GDP (64 per cent of current account receipts) in 2014. The debt maturity profile is relatively favourable and gross external financing requirements are low at an estimated 7.7 per cent of GDP in FYE 2015. The security situation has improved following the recent election of General Al Sisi as president, and economic activity appears to be picking up. Nevertheless, political risk remains a concern in view of the continued polarisation between supporters of the new president, who was elected by a minority of eligible voters, and those of the deposed Islamist president. In the policy arena, bilateral financial support has provided the authorities with a short respite to focus on measures needed to strengthen macroeconomic and fiscal fundamentals. The new government has announced an ambitious reform agenda and recently raised fuel prices in a step towards reducing costly subsidies. The partial lifting of fuel subsidies is expected to contribute to a decline in the budget deficit to a still high 12 per cent of GDP by FYE 2017 (compared to 14 per cent of GDP in FYE 2013); however, stronger efforts are necessary to lower the deficit to safer levels. General government debt remains very high and is projected to reach 93 per cent of GDP in FYE 2017 – contributing to significant financing needs. OUTLOOK The Outlook for the ratings is 'Stable'. This means that Egypt's ratings are likely to remain unchanged over the next 12-24 months, provided key credit metrics evolve as envisioned in CI's baseline scenario and no other credit quality concerns arise. The 'Stable' Outlook reflects CI's current expectation that Egypt's fiscal and external position will possibly stabilise over the next year or so, based on the continuation of external support and the increasing likelihood that the new government will continue its gradual structural reforms. More»
Amwal Al Ghad English - 2014-08-27 06:24:34
The dollar hit a 13-month peak against a basket of major currencies on Wednesday, with the euro still struggling amid expectations of further policy easing from the European Central Bank. The dollar index rose as far as 82.727 at one point, its highest level since July 2013. It was last steady on the day at 82.648. Data on Tuesday showed orders for U.S.-manufactured durable goods posted their biggest gain on record in July, while consumer confidence rose in August to its highest level since October 2007. The eye-catching U.S. data, albeit driven by a huge jump in aircraft orders, only served to bolster long dollar/short euro positions - a trade embraced in earnest after recent dovish comments from European Central Bank President Mario Draghi. More»