amwalalghad :: Arab

Your English Portal To Arab Economy

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        

Money Markets - Arab

Amwal Al Ghad English - 2017-01-22 10:02:52
Weak fourth-quarter earnings at several major Saudi Arabian companies have dragged down that market at Sunday early trade, while most other Gulf bourses were firm. The Saudi index dropped 0.4 percent as food maker Savola plunged 6.2 percent. It swung to net loss of 964.3 million riyals ($257.2 million) in the quarter from a profit of 515.3 million riyals a year ago, and said it did not plan to pay quarterly dividends in 2017. Analysts polled by Reuters had on average forecast Savola would make a quarterly profit of 53.6 million riyals. Banks were also weak after several posted fourth-quarter earnings below estimates. Alawwal Bank fell 5.6 percent after swinging to a net loss of 249.3 million riyals from a profit of 451.3 million; Alistithmar Capital and EFG Hermes had forecast profit of 330.5 million and 438.0 million. Saudi British Bank dropped 3.2 percent after posting a 35 percent fall in fourth-quarter net profit; Banque Saudi Fransi slipped 2.6 percent after reporting a 61 percent profit decline; and Samba Financial Group lost 3.5 percent after posting a 12 percent profit fall. Shares rose in many other sectors, however. Real estate developer Dar Al Arkan climbed 2.6 percent to 5.90 riyals after Deutsche Bank raised its price target for the stock to 6 riyals from 5.90 riyals. Builder Khodari jumped 9.1 percent; it has been buoyed since November by signs the construction sector is picking up as the government makes delayed payments on its debts to companies in the industry. Saudi Basic Industries Corp rose 0.3 percent after saying it had agreed to acquire the 50 percent it does not already own in its petrochemical venture with Shell Arabia, a unit of Royal Dutch Shell, for $820 million. Dubai's index gained 0.3 percent as the most heavily traded stock, builder Drake & Scull, which also has exposure to Saudi Arabia, climbed 4.4 percent. Property developer Deyaar rose 2.0 percent after state news agency WAM reported it had signed a memorandum of understanding with Dubai South, the master developer of the area around Dubai's Al Maktoum International Airport, for a multi-purpose development. Strong banking shares pushed Qatar's index up 0.1 percent, with Qatar National Bank gaining 2.0 percent, and Kuwait's index continued a bull run which began early this month. It added a further 2.9 percent in large volumes with all of the 10 most heavily traded stocks rising sharply as local funds and retail investors piled into the market in the hope of more near-term gains. More»
Amwal Al Ghad English - 2016-12-28 10:29:50
Most major Gulf bourses inched up in early trade Wednesday in line with global stocks markets, as petrochemical producers led Saudi Arabia's bourse. The Saudi index, which added 1.3 percent on Tuesday to a new high for the year, climbed 0.3 percent in the first 15 minutes. The petrochemical sector index added 0.5 percent after oil prices rose overnight. Relatively small companies in the sector outperformed, with Petrochem up 4.1 percent. Abu Dhabi's index rose 0.3 percent on the back of a 1.1 percent gain by telecommunications firm Etisalat. Qatar was up 0.2 percent as Qatar Navigation added 1.1 percent. Dubai's index edged down 0.2 percent although Gulf Navigation rose as much as 1.9 percent after it said it had formed a partnership with SeaQuest, a Geneva-based firm providing ship and project management services. Gulf Navigation will use the tie-up to expand its business in these areas around the Middle East and Africa, it said. More»
Amwal Al Ghad English - 2016-12-20 10:03:45
Banking shares in Qatar made strong gains during Tuesday morning trade after three Qatari banks said they were in talks on a potential $44 billion merger, but other stock markets in the Gulf retreated on profit-taking. Masraf Al Rayan jumped 4.4 percent after the Islamic lender announced it was in initial talks with Barwa Bank (IPO-BABK.QA: Quote) and privately listed International Bank of Qatar to merge, in a deal that would create the second largest bank in Doha. The possible consolidation spurred interest in other lenders, with the largest bank by assets, Qatar National Bank , adding 1.8 percent. The main Qatar equities index was up 0.4 percent. But selling of blue chips weighed on the Saudi Arabian index , which was down 0.6 percent after half an hour. Petrochemical producer Saudi Basic Industries shed a further 1.1 percent after dropping 3.7 percent on Monday in response to its plan to cut its second-half cash dividend from a year earlier. Saudi British Bank was down 1.8 percent. Builder Abdullah Al Khodari, which had surged 9.3 percent on Monday, pulled back 2.2 percent. In Dubai, the index was down 0.3 percent with decliners outnumbering gainers 15 to six. Heavyweight Emaar Properties retreated 1.0 percent. More»
Amwal Al Ghad English - 2016-12-19 09:47:37
Qatar's stock market surged at Monday’s early trade after the finance ministry published the 2017 state budget, while large-cap shares weighed on other regional markets. The index in Qatar, which was closed for a public holiday on Sunday, rose 1.1 percent with 85 percent of shares advancing. Petrochemical and metals producer Industries Qatar was the top performer, adding 2.1 percent. On Thursday Qatar published a 2017 budget which projected a deficit of 28.3 billion riyals ($7.8 billion), much smaller than the originally projected 2016 deficit, and total spending of 198.4 billion riyals, down from 202.5 billion riyals. Although that is slightly contractionary, it is less contractionary than the 2016 budget, and the government plans to increase capital spending next year. It did not announce any major new austerity measures, and the budget's conservative oil price assumption of $45 a barrel suggests the government has plenty of room to meet its targets next year. Dubai's main index lost 0.1 percent in thin trade on Monday morning. Emaar Properties edged down 0.1 percent. Blue chips were also weak in Abu Dhabi, where the index slipped 0.2 percent; First Gulf Bank was down 0.4 percent. In Saudi Arabia, the index was dragged 0.4 percent lower by a 2.6 percent drop in the largest listed stock, Saudi Basic Industries, after the company announced a lower cash dividend for the second half of this year compared to a year earlier. Rising stocks slightly outnumbered losers, however, and seven of the 10 most heavily traded stocks were higher. Saudi Cable Co, which rose 2.5 percent on Sunday after saying its Turkish subsidiary had won a $50 million order, climbed a further 5.8 percent. More»
Amwal Al Ghad English - 2016-11-30 09:17:48
Saudi Arabia's stock market went up during Wednesday’s early trade while other Gulf bourses were mixed ahead of an OPEC decision expected late in the day on proposed oil production cuts to prop up prices. Most analysts believe the Organization of the Petroleum Exporting Countries will cobble together a deal to reduce some production at its meeting on Wednesday in Vienna, which starts at 1000 GMT. But there is a lot of uncertainty on the terms of the deal and whether it will have much long-term effect on the oil market, and in this environment, many institutional funds have been cutting back activity, leaving Gulf stock markets to focus on short-term trade by retail investors. The Saudi index climbed 0.6 percent in the first 20 minutes. Saudi Arabian Mining Co (Ma'aden) surged 2.5 percent after announcing a 24 billion riyal ($6.4 billion) project to boost its phosphate capacity, while petrochemical blue-chip Saudi Basic Industries gained 1.1 percent. Dubai's index edged down 0.2 percent, however, as GFH Financial pulled back 1.7 percent. Abu Dhabi's index was flat. Qatar rose 0.5 percent as Qatar Navigation added 1.7 percent after saying it would form a joint venture with Qatar Ports to operate Hamad Port in Doha. More»
Amwal Al Ghad English - 2016-11-29 09:27:45
Saudi Arabia's stock market neared a bullish technical breakout during Tuesday’s early trade while speculative activity in small caps boosted United Arab Emirates markets, though other bourses in the Gulf were little changed. The Saudi index climbed 0.7 percent in the first half-hour to 6,950 points, its highest level since Jan. 3. A close above major technical resistance on the April peak of 6,876 points would confirm a major double bottom formed by the January and October lows and pointing up to around 8,400 points in the long term. As on Monday, the banking and petrochemical sectors moved little and much activity focused on smaller stocks. Retailer Jarir Marketing, beaten down earlier this year by an economic slowdown due to low oil prices, jumped 5.2 percent. Insurance stocks favoured by local retail speculators also surged, with Al Rajhi Takaful up 7.8 percent. Central bank data released on Monday suggested the government was bringing home large amounts of money from abroad and using it to pay debts to the private sector, which could boost economic growth in the fourth quarter. Dubai's index rose 1.0 percent as Dubai Investments surged 2.7 percent. Construction firm Arabtec climbed 1.6 percent after it appointed Hamish Tyrwhitt as new chief executive; Tyrwhitt was chief executive of Australian contractor Leighton Holdings, since rebranded CIMIC Group, between 2011 and 2014. Abu Dhabi's index rose 0.5 percent, buoyed by banks, with Abu Dhabi Commercial Bank adding 2.1 percent. Qatar's index was flat, however. More»
Amwal Al Ghad English - 2016-11-28 09:06:56
Gulf stock markets moved sideways during Monday’s early trade with little fresh corporate news to spur buying, while uncertainty over oil prices also deterred some investors. Saudi Arabia's index was flat after 70 minutes of trade with most petrochemical companies little changed and the banking sector index edging down. Real estate developer Jabal Omar gained 1.4 percent after saying it had ended a contract with builder Saudi Binladin Group, settling an outstanding 196 million riyal ($52.3 million) debt to Binladin by transferring to it ownership of units in a project. Dubai's index edged down 0.1 percent as Union Properties, the most heavily traded stock, pulled back 2.5 percent after leaping 11.4 percent on Sunday. Abu Dhabi's index dropped 0.6 percent as telecommunications blue chip Etisalat fell by the same amount, while Qatar edged down 0.3 percent as Qatar national bank lost 0.5 percent. Brent crude oil dropped 1.4 percent to below $47 a barrel in Asian trade on fears that producer countries meeting this week could fail to agree on a meaningful output cut. Saudi Arabia's energy minister, Khalid al-Falih, said on Sunday night that he believed the oil market would balance itself in 2017 even if producers did not intervene, and that keeping output at current levels could therefore be justified. More»
Amwal Al Ghad English - 2016-11-27 09:21:49
Gulf stock markets consolidated in a quiet market during Sunday with little corporate news to prompt trading, and with Friday's sharp pull-back in oil prices offsetting strength in bourses worldwide. The Saudi stocks edged up 0.1 percent to 6,806 points in the first half hour. The index tested and failed to break technical resistance on its April peak of 6,876 points on Thursday. The petrochemical index underperformed, dropping 0.4 percent, while the cement sector was also weak. Alawwal Bank jumped 2.0 percent, however, after changing its name to Alawwal Bank from Saudi Hollandi Bank in a rebranding exercise that coincides with Royal Bank of Scotland seeking a buyer for its 40 percent stake. Dubai's main index climbed 0.6 percent on the back of gains in the two most heavily traded stocks, GFH Financial, up 2.2 percent to 1.86 dirhams, and Union Properties, which surged 5.3 percent to 0.88 dirham, approaching major technical resistance on the year's high of 0.91 dirham. Abu Dhabi's index rose 0.7 percent on the back of a 1.5 percent gain by Abu Dhabi Commercial Bank, which has been volatile because of merger speculation. Qatar's index was flat. More»
Amwal Al Ghad English - 2016-11-23 09:30:58
Saudi Arabia's stock market extended gains at Wednesday’s early trade, outperforming regional markets where local retail investors were the main participants. Riyadh's index added 1 percent in the first 45 minutes of trade, inching closer to technical resistance at the July peak of 6,703 points. Petrochemicals and banking stocks, which have been outperforming other sectors over the past month, strengthened. Saudi Basic Industries added 1.2 percent while Banque Saudi Fransi gained 2.4 percent. Domestic-focused shares were robust, recovering from losses in recent days. Electronics and bookstore operator Jarir Marketing and medical insurer Medgulf were both up by 1.9 percent. Dubai's main stock index edged up by 0.1 percent with the majority of turnover coming from small and mid-sized companies. National Central Cooling jumped 5.5 percent but healthcare provider Amanat Holdings dropped by 3 percent. Most blue-chip stocks, favoured by foreign funds, were relatively quiet. Emaar Properties was down 0.5 percent. Abu Dhabi's index gained 0.2 percent as top lenders diverged. First Gulf Bank rose 1.3 percent but Union National Bank (UNB) pulled back 2.1 percent and Abu Dhabi Commercial Bank (ADCB) eased by 0.8 percent. Trading has been volatile in the shares of UNB and ADCB over the past week on rumours that they intend to merge. Both have denied that they are planning a deal. Qatar's main index dipped by 0.2 percent, with losers outnumbering gainers nine to one. Oil drilling company Gulf International Services fell by 1 percent. More»
Amwal Al Ghad English - 2016-11-21 15:46:27
Stock markets in the Gulf diverged Monday with Saudi Arabia's index cooling for a third session as investors booked profits on lofty prices while Abu Dhabi stock market rebounded slightly. Riyadh's main index fell 1.1 percent in modest trade, with roughly 70 percent of the traded shares declining. It is now down 2.3 percent over the past three sessions but is still up 14.9 percent over the last 30 days. Banking shares, which have been the chief gainers over the past four weeks, were hard hit with all but two of the listed lenders closing lower. Blue-chip Samba Financial Group lost 4.4 percent to 21.90 riyals and Saudi British Bank fell 4.7 percent. Shares in both lenders are now trading close to the expected fair price of analysts, according to Thomson Reuters data, a sign that long term value-traders will have little impetus to add further shares to their portfolios. "For over a month the stock market has been performing in a silo, disconnected from the global environment even somewhat dislocated from the movement in crude oil prices," said a Riyadh-based portfolio manager. Over the past month, Brent oil is down 9.5 percent while the petrochemical sector is up 8.3 percent. On Monday, however, despite a bounce in crude oil prices over $47 a barrel the majority of the listed oil-derivative shares fell. National Petrochemical Co fell 2.9 percent. Abu Dhabi's index rose 0.2 percent after falling 1.7 percent on Sunday. Abu Dhabi Commercial Bank climbed 0.3 percent and Union National Bank added 0.7 percent. On Sunday, UNB dropped 5.2 percent and ADCB lost 2.7 percent after both lenders issued separate statements denying last week's Bloomberg report that they were involved in merger talks. Abu Dhabi Islamic Bank ended flat after pulling back 0.8 percent on Sunday after the lender said that it has no plans to merge with Alhilal Bank. Dubai's Shuaa Capital jumped 10.8 percent, taking its gains over the last two session to 19.1 percent as investors were optimistic that its new shareholder, Abu Dhabi Financial Group, will unlock value for the investment firm. Shares in Shuaa are now trading at roughly 2.5 times the acquisition price of 0.705 dirham a share. Shares in other second-tier companies, usually traded by local traders, also climbed, helping carry Dubai's main index 0.1 percent higher. Union Properties jumped 9.8 percent. More»