amwalalghad :: Arab

Your English Portal To Arab Economy

GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        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        Universal For Paper and Packag   4.94        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        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        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        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        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Egyptian Transport (EGYTRANS)   7.85        Sharkia National Food   3.78        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 - 2017-09-20 09:35:52
Qatar’s stock market extended gains in early trade on Wednesday as local investors bought on price dips, in an otherwise weak Gulf region. The Doha index rose 0.5 percent after 40 minutes of trade, extending the previous session’s small 0.1 percent rise. “Local funds are stepping up, and buying after the market has lost 10 percent since early August, some companies are looking pretty cheap,” said a Doha-based fund manager. Shares of Qatar Electricity and Water were up 1.9 percent after it said land has been allocated for the solar power project in Al Kharsaah, which is set to produce 500 to 1,000 megawatt of electricity. The first phase of the project will cost around $500 million for producing 500 MW of electricity and to be completed by 2020, the company said adding that investors for the solar power project will be named soon. In Abu Dhabi, shares of Dana Gas were flat as about 10.6 million shares were traded, making up roughly 55 percent of the total volume on the Abu Dhabi exchange. London High Court judge on Tuesday adjourned a trial on Dana Gas and its creditors until Thursday after lawyers for the Abu Dhabi-listed company said that it was prevented from taking part in the proceedings because of an injunction by a Sharjah court, while shares of Qatar’s utility company may rise on new solar plant project. The judge said he might complete it regardless of whether all parties were present. Shares of Dana rose 1.3 percent on Tuesday, before the news of the adjournment came. Dubai theme park operator DXB Entertainments’ rose 0.8 percent after its board approved an agreement with privately held Meraas Holding and Meraas Leisure and Entertainment for a 245 million subordinated shareholder loan. The company has been struggling to break even since it opened some of it theme parks last year and its stock price has taken a hit, down nearly 40 percent since the start of the year, significantly underperforming the main index. Dubai’s index however fell 0.1 percent as ten other shares declined including courier Aramex, down 0.8 percent. The Saudi index was down 0.2 percent after 15 minutes of trade as half of the top ten most valuable shares fell, including Saudi Basic Industries, which was down 0.2 percent. More»
Amwal Al Ghad English - 2017-09-18 10:48:36
Qatar’s stock index was down again on Monday as shares in Qatar Insurance tumbled after it announced the closure of its Abu Dhabi branch because of the region’s diplomatic crisis. The stock index had fallen for the previous 10 straight sessions. Qatar Insurance dropped 4.6 percent after the company said its licence to operate in Abu Dhabi had not been renewed. Its Abu Dhabi unit, which had been operating since 2002, used to bring in annual revenue of 110 million Qatari riyals ($30 mln), the company said. The news dealt another blow to Qatari shares, sending 14 other large-caps lower and taking the main index down 1 percent. As of Sunday, the index had dropped 15.6 percent since Saudi Arabia and other Arab states cut diplomatic and transport ties with Doha in early June. “The market is in free-fall at the moment and until there is clarity about how the crisis will be resolved, I don’t see a floor,” said a regional fund manager. The Saudi index barely moved in the first 40 minutes of trade, with some of the petrochemical and banking shares that had risen on Sunday reversing slightly on profit taking. Yanbu National Petrochemical fell 0.3 percent and Alawwal Bank lost 0.8 percent. In the United Arab Emirates, the Dubai index was up 0.3 percent as Emaar Properties rose 1.5 percent and Dubai Islamic Bank added 0.7 percent. Abu Dhabi’s index was flat. More»
Amwal Al Ghad English - 2017-09-17 08:00:25
Gulf stock markets may have a firm tone Sunday, taking their cue from strong crude oil prices and upbeat global bourses, while Qatar’s index may recover slightly after the emir said he was ready for talks to end the Gulf crisis. On Friday, MSCI’s gauge of stocks across the globe rose 0.11 percent to a fresh high. Brent oil held near five-month highs to settle at $55.62 a barrel and posted its biggest weekly gain since late July. On Friday, Qatari Emir Sheikh Tamim bin Hamad al-Thani said Qatar was ready to sit at the negotiating table to try to end a dispute with its Gulf Arab neighbours. It is not yet clear how Saudi Arabia and its neighbours will respond to this, but the comments could help to stabilise Qatar’s stock market after it shed 3.1 percent last week to an April 2013 low. “There is too much uncertainty around Qatar right now, and the full extent of how hard those companies have been hurt by this crisis is yet to be known,” said a Paris-based fund manager. Foreign funds sold Qatari equities aggressively last week as there was no sign of the political deadlock between Doha and four Arab states being resolved. More»
Amwal Al Ghad English - 2017-09-11 13:01:02
The start of a major international real estate exhibition in Dubai on Monday boosted shares in some second-tier developers, helping to drive broader market gains there. The Dubai index climbed 0.3 percent as Union properties, the most heavily traded stock, added 1.7 percent and Deyaar gained 1.5 percent. The biggest developer, Emaar Properties DU>, lagged, edging up 0.2 percent. Direct sales of United Arab Emirates properties are being allowed at this year’s annual Cityscape exhibition in Dubai for the first time in a decade. Deyaar said in a stock exchange statement on Monday that it was launching a new 1 billion dirham ($272 million) residential and hotel project at Cityscape. Saudi Arabia’s index climbed 0.4 percent as Nama Chemicals, which had surged 9.5 percent in unusually heavy trade on Sunday, added a further 4.8 percent to 22.48 riyals but shied away from technical resistance at its May peak of 23.22 riyals. Petrochemical stocks were strong in general after oil prices rose slightly overnight in response to the Saudi Arabian oil minister discussing the possible extension of a pact to cut global oil supplies beyond March 2018. Top producer Saudi Basic Industries was up 0.6 percent. Saudi British Bank climbed 1.6 percent to 27.90 riyals after Morgan Stanley raised the stock to “overweight” from “equal-weight” and lifted its target price to 32.50 riyals from 31 riyals. Qatar’s index, which fell to an 18-month closing low on Sunday, dropped a further 0.4 percent as Qatar National Bank , the biggest lender, lost 1.1 percent. More»
Amwal Al Ghad English - 2017-08-23 15:28:30
Stock markets in the Middle East were mixed Wednesday with Saudi Arabia finding support from smaller companies while property developers were strong in Dubai bourse. The Riyadh index edged up 0.1 percent. Nine-tenths of the top 20 gainers were small to mid-sized stocks including Saudi Indian Co for Cooperative Insurance (Wafa), which added 1.6 percent after saying it had received "temporary and conditional" approval from the central bank to sell some of its professional liability insurance policies. Shares of Wafa had suffered heavy losses since Sunday when the company, along with three other insurers, was slapped by the central bank with a temporary ban on selling motor vehicle policies because of irregular practices. Al Maather REIT, which listed on Tuesday, surged its 10 percent daily limit for a second straight day, while Al Jazira Mawten REIT gained 3.3 percent. Real estate investment trusts have been heavily traded this week as local investors have been lured by the sudden surge in activity. "The trend is your friend - retail investors are just piling into shares because of headline news, as there is a lack of news in any other sector," said a Jeddah-based broker. Al Rajhi added 1.7 percent to 66.90 riyals. The stock is up almost 8 percent since the start of the month; it has an average fair value of 70.32 riyals with an expected dividend yield of 4.17 percent in 2017 and 4.60 percent for 2018, according to Thomson Reuters data. Property developers helped lift Dubai's index 0.4 percent; heavyweight Emaar Properties added 1.2 percent and DAMAC Properties added 0.5 percent. In Abu Dhabi, the index edged up 0.3 percent in very thin trade as three of the five most valuable companies rose; developer Aldar Properties advanced 0.9 percent. Qatar's index edged down 0.1 percent as most banking shares declined; Commercial Bank fell 1.6 percent to 29.90 riyals. Egypt's index lost 0.9 percent to 12,996 points, making it the worst performer in the region. All but one of the 30 most valuable shares fell, with investment bank EFG Hermes dropping 2.1 percent to a fresh closing low for this year. U.S. sources familiar with the matter told Reuters on Tuesday that Washington had decided to deny Egypt $95.7 million in aid and to delay a further $195 million because of its failure to make progress on respecting human rights and democratic norms. The Egyptian index has been technically bearish since last week, when breaks below its July low of 13,261 points and its 100-day average triggered a head and shoulders pattern formed by the highs and lows since June, which points down to about 12,650 points. More»
Amwal Al Ghad English - 2017-08-08 09:58:30
Gulf stock markets may stay sluggish during Tuesday’s trade in the absence of fresh news or positive cues from global markets, while Egypt's bourse may outperform for a third day, buoyed by news of Saudi Arabian investment plans. Saudi Prince Alwaleed bin Talal will invest about $800 million to expand the Four Seasons resort in Sharm el-Sheikh, in partnership with Talaat Moustafa, Egypt's Investment Minister Sahar Nasr said on Monday. The news could buoy one of the Egyptian market's most active stocks. The global environment is neutral, however, with Asian equities and oil prices little changed. Moody's Investors Service changed the outlook on Qatar's banking system to negative from stable, citing weakening operating conditions and continued funding pressures, but this came as no surprise given Qatar's diplomatic crisis, and Moody's noted that Qatari banks' capitalisation would remain strong. In Saudi Arabia, Al Tayyar reported that second-quarter net profit fell to 212 million riyals ($56.5 million)from 297 million riyals a year ago, missing forecasts of 229 million riyals and 237.5 million riyals by NCB Capital and Aljazira Capital. Najran Cement also reported weak earnings, losing 4.2 million riyals versus a year-earlier profit of 33.9 million riyals. In Dubai, however, budget carrier Air Arabia reported a 19.2 percent rise in second-quarter net profit to 150.7 million dirhams ($41.03 million), beating estimates by EFG Hermes and SICO Bahrain, which had forecast 95.9 million dirhams and 96.3 million dirhams. More»
Amwal Al Ghad English - 2017-07-24 10:43:16
Banks pulled Qatar's stock market higher in early trade Monday while Saudi Arabia's stock market inched down after a string of second-quarter earnings, with telecommunications firm Mobily plunging on a bigger-than-expected loss. The Qatari index added 0.4 percent as Qatar National Bank climbed 1.0 percent and Masraf Al Rayan rose 0.8 percent. Qatar International Islamic Bank gained 1.4 percent after reporting a modest year-on-year rise in first-half net profit. Islamic insurer AlKhaleej Group surged 2.8 percent in unusually heavy trade. Dubai's index edged down 0.2 percent as Amlak Finance, which had surged in the past two days after a partnership deal with property developer DAMAC, traded flat. The most heavily traded stock, builder Drake & Scull, added 2.0 percent. Saudi Arabia's index also lost 0.2 percent with National Commercial Bank, the kingdom's largest lender, falling 1.2 percent after reporting a 0.9 percent fall in second-quarter net profit. Etihad Etisalat <Mobily) plunged 7.4 percent in unusually heavy trade after posting a quarterly net loss of 189.7 million riyals. Analysts had on average forecast a loss of 166 million riyals. Banque Saudi Fransi gained 2.3 percent after reporting a 4.1 percent decline in quarterly net profit. Retailer United Electronics jumped 7.6 percent; it will pay a first-half dividend of 0.75 riyal per share on Aug. 20, with the stock going ex-dividend on Aug. 5. More»
Amwal Al Ghad English - 2017-07-23 10:00:57
Dubai's stock market outperformed a quiet region in morning trade on Sunday as Islamic finance firm Amlak jumped for a second straight day in very heavy trade. The Dubai index gained 0.6 percent as Amlak surged 8.0 percent to a four-month high of 1.21 dirhams and was the market's most active stock, accounting for nearly a quarter of turnover. It rose above its 200-day average, now at 1.14 dirhams, for the first time since February. On Thursday, it had soared 14.3 percent. Traders attributed the rise to last week's announcement by real estate developer DAMAC that it was partnering with Amlak to sell second homes to customers. However, the partners gave no financial details, and many investors piled into the stock just because it had momentum. DAMAC rose 1.3 percent early on Sunday. Abu Dhabi's index fell 0.3 percent as Abu Dhabi Commercial Bank dropped 0.7 percent. It reported a 10.4 percent fall in second-quarter net profit to 1.01 billion dirhams ($275.2 million); three analysts polled by Reuters had on average forecast 1.11 billion dirhams. Qatar was flat as Gulf International Services , the most active stock, rose 1.44 percent. But the banks which led last week's rally stalled, with Qatar National Bank edging down 0.1 percent. Qatar's stock market has regained almost all of the losses it suffered after the country's diplomatic crisis with its neighbours erupted on June 5. At the weekend, Qatar's emir called for dialogue but gave no clear sign of a fresh initiative to end the crisis; United Arab Emirates Minister of State for Foreign Affairs Anwar Gargash said Doha needed to change its policies before a dialogue could occur. Saudi Arabia's index was also flat after half an hour. Alinma Bank, the most active stock, rose strongly for a third straight day after reporting better-than-expected second-quarter earnings last week; it added 2.0 percent. Arabian Shield Cooperative Insurance surged 3.8 percent after reporting second-quarter net profit more than doubled from a year ago. Arab National Bank climbed 1.3 percent after reporting a 4 percent rise in quarterly profit. But Yamamah Cement dropped 1.5 percent after disclosing that second-quarter profit plunged to 12.2 million riyals ($3.3 million) from 116.3 million riyals; sales also fell sharply. More»
Amwal Al Ghad English - 2017-07-20 09:47:19
Gulf stock markets may have a modestly firm tone on Thursday because of an overnight surge in oil prices and strong global equities, while positive earnings at Egypt's biggest bank could buoy the stock market there. Brent oil gained 1.8 percent on Wednesday to above $49.50 a barrel, while Wall Street hit record highs on the back of strong earnings reports. Qatar's stock market has been rebounding in recent days as quarterly bank earnings and macroeconomic data show the impact of the country's diplomatic crisis on the economy so far is not as bad as some had feared. Non-Arab foreign investors have been net buyers of stocks, while Gulf investors have continued to cut holdings in Qatar. Egypt's Commercial International Bank reported second-quarter consolidated net profit after minority interests of 1.83 billion Egyptian pounds ($102 million) versus 1.46 billion pounds a year ago, with consolidated revenue surging to 3.55 billion pounds. However, part of the rise is due to devaluation of the Egyptian pound, while the stock is already up 18 percent this year in anticipation of good earnings. More»
Amwal Al Ghad English - 2017-07-17 16:46:10
Dubai's stock index increased above technical resistance on Monday, suggesting a long period of underperformance compared with the region and other emerging markets might be ending, while a bank going ex-dividend helped to pull down Saudi Arabia's market. The Dubai index gained 0.8 percent to 3,602 points, eclipsing its April peak of 3,573 points. The next, strong resistance is at 3,737-9 points, the January and February peaks. Islamic Arab Insurance, the market's most active stock, climbed 3.4 percent in unusually heavy trade, accounting for about a quarter of all volume. It has been trading near record lows and, with a price below half a dirham, is easily moved by short-term speculators. DAMAC Properties, which has been surging to record highs in the past week, added a further 3.8 percent. Neighbouring Abu Dhabi's index was also strong, climbing 1.1 percent as the biggest bank, First Abu Dhabi Bank , which is due to report earnings in coming weeks, surged 2.8 percent. Sharjah Islamic Bank, which had just reported a 6.4 percent year-on-year rise in second-quarter net profit attributable to shareholders, jumped 2.9 percent. But Union National Bank, which had been rising since it reported strong quarterly earnings last week, fell back 1.9 percent. In Saudi Arabia, the index fell 0.8 percent as Banque Saudi Fransi, which had added 1.4 percent on Sunday, went ex-dividend and tumbled 5.5 percent. Petrochemical maker Yansab sank 1.7 percent after it reported a 54 percent year-on-year plunge in second-quarter net profit, despite an increase in some prices. It cited a temporary shutdown of some facilities for maintenance and higher feedstock prices. Chemanol rose 1.1 percent after saying it had received $10 million from a bank guarantee after one of its marketers failed to meet contract obligations. The marketer intends to seek arbitration, Chemanol said. Qatar's index rose 1.0 percent as drilling rig provider Gulf International Services, the most heavily traded stock, gained 2.5 percent. It has been in an uptrend from near multi-year lows since Qatar outlined plans to boost its gas production a couple of weeks ago. Gulf Warehousing surged 4.7 percent in heavy trade. After initially falling when other Arab states cut diplomatic and transport ties with Qatar on June 5, it has rebounded strongly as the Qatari government has ploughed money into developing new trade routes, which could benefit the firm. More»