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        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        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        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        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        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 - 2018-01-10 07:38:18
A surging price of oil looks set to give Gulf stock markets a firm tone on Wednesday even though there is little corporate news to trigger buying. Brent crude oil climbed to a 2-1/2 year high of $69.29 a barrel overnight and remains near that level. That is good news for state finances around the Gulf and should ensure most governments can spend relatively generously this year. MSCI’s broadest index of Asia-Pacific shares outside Japan has pulled back 0.4 percent but Wall Street hit fresh records overnight. Saudi Arabia’s securities regulator said after the close on Tuesday that a previously announced easing of requirements for foreign institutional investors in the stock market, such as a halving of the minimum required assets under management, would take effect on January 23. In Dubai, Union Properties may attract interest after saying it is in the final stage of selling its entire stake in Emicool, a district cooling service provider; its share of net assets in Emicool was valued at 355 million dirhams ($97 million) in 2016, according to its annual report. Union Properties was not specific about how it would use the proceeds of the sale, merely saying it would strengthen its focus on core operations and enter new sectors. However, expansion in Egypt appears to be one goal. The company said it had acquired a 5.68 percent stake in Egypt’s Palm Hills Development through its unit UPP Capital Investment, confirming a disclosure by Palm Hills earlier this week. Although the rebound of Qatar’s market slowed on Tuesday, with the index closing just 0.3 percent higher, exchange data showed strong net buying interest among foreign investors, who accounted for 44.3 percent of buy orders and 22.8 percent of sell orders. More»
Amwal Al Ghad English - 2018-01-08 06:32:32
Gulf stock markets may have a modestly firm tone on Monday after the previous day’s gains, while Dubai builder Drake & Scull could be a focus of trade after it said it had completed restructuring its corporate bank debt. MSCI’s broadest index of Asia-Pacific shares outside Japan is up 0.1 percent, having climbed 3.1 percent last week, its strongest performance in six months. Brent oil is up 12 U.S. cents at $67.74 a barrel. Drake & Scull said that along with the debt restructuring, it had secured new credit lines and working capital facilities for its projects; lack of such liquidity had contributed to the company’s losses earlier this year. The company also said it was in advanced talks with creditors in Saudi Arabia to complete the refinancing of about 1 billion dirhams ($272 million) of project debt there. However, some investors may sell into any further strength of the stock. Last at 2.30 dirhams, it has already soared from around 1.70 dirhams in early November in anticipation of the good news; of five analysts following it, one rates it “hold”, two “sell” and two “strong sell” with a median target price of 1.31 dirhams, according to Thomson Reuters data. Also in Dubai, GFH Financial may see some pressure after the company said its major shareholder Integrated Capital had reduced its shareholding to 6.72 percent from 8.01 percent. It did not give a reason. Integrated Capital is owned by Shuaa Capital, an affiliate of Abu Dhabi Financial Group (ADFG), and the stake in GFH had provided a base for cooperation between GFH and ADFG. In Saudi Arabia, consumer electronics retailer United Electronics Co may get a boost after saying estimated fourth-quarter net profit climbed to 57.6 million riyals ($15.4 million) from ‍​26.3 million riyals a year ago, as sales rose to 1.61 billion riyals from 1.39 billion riyals. The sales data suggests that after a difficult 2017, the Saudi retail industry may have ended the year on a strong note, thanks to a pick-up in government spending. More»
Amwal Al Ghad English - 2018-01-07 06:50:05
A package of handouts from Saudi Arabia’s King Salman may boost the Saudi stock market on Sunday while the region in general looks likely to be supported by a positive global trend. King Salman on Saturday ordered extra monthly payments to state employees and pensioners this year as part of a package to compensate citizens for the rising cost of living after the government hiked gasoline prices and introduced value-added tax. The decree did not say how much the package was worth; a central bank statement said it was “tens of billions of riyals”, and Reuters calculations suggested it might be around 23 billion riyals ($6.1 billion) - smaller than some past handouts by Saudi kings, and not enough to make a big difference to the economy or the state budget deficit. Nevertheless, the package is a sign that authorities aim to limit damage to domestic demand from austerity measures early this year, and could therefore buoy the stock market. The Saudi stock index, last at 7,277 points, rose on Thursday above technical resistance around 7,200 points, which had capped it since mid-December; the next significant resistance is the September peaks around 7,400 points. Overseas, the Dow Jones Industrial Average rose 0.9 percent on Friday while MSCI’s broadest index of Asia-Pacific shares outside Japan closed 0.7 percent higher. Brent oil fell but at $67.62 a barrel, remained near 2-1/2 year highs. More»
Amwal Al Ghad English - 2018-01-04 08:46:10
Gulf stock markets were narrowly mixed during early trade on Thursday although strength in the United Arab Emirates’ biggest bank boosted Abu Dhabi’s bourse. The Abu Dhabi index gained 0.7 percent as First Abu Dhabi Bank rose 1.4 percent to 10.80 dirhams, bringing its gains in the last three days to 5.4 percent. The stock rose on Wednesday above its 200-day average for the first time since September, triggering a minor double bottom formed by the lows since October. It faces initial technical resistance at the August peak of 11.00 dirhams. Of 10 analysts polled by Thomson Reuters, one has a “strong buy” on the stock, five have a “buy” and four have a “hold”, with a median target of 11.75 dirhams. Dubai’s index was flat after four days of gains but most real estate firms remained firm, with Emaar Properties up 0.5 percent. Qatar’s index edged up 0.3 percent. Saudi Arabia’s index was almost flat after an hour of trade with Al Rajhi Bank climbing 0.7 percent after its 2.0 percent gain on Wednesday. More»
Amwal Al Ghad English - 2018-01-02 06:50:08
Middle Eastern stock markets may generally start 2018 on a positive note because of strong global markets and expectations that economic growth in the region will pick up this year. MSCI’s broadest index of Asia-Pacific shares outside Japan is up 0.9 percent on Tuesday morning while Brent oil has put on another 22 cents to $67.09 a barrel. Meanwhile, a Reuters poll of leading Middle East fund managers, published on Sunday, found 54 percent expect to raise their allocations to regional equities over the next three months and none to reduce them, the most positive balance since August. Saudi Arabia was the only major regional market to trade on Monday, with its index dropping 0.5 percent after the government raised domestic gasoline prices. In Dubai, shares in Gulf Navigation could see some pressure on Tuesday after the company said it planned to increase its issued and paid-up capital by 448.3 million dirhams ($122.2 million) to 1 billion dirhams by issuing new shares in a rights issue. But Dubai’s stock index, last at 3,370 points, is technically at least short-term bullish, having posted a positive 14-day momentum divergence, a classic sign of the reversal of a downtrend, at last week’s six-month low. More»
Amwal Al Ghad English - 2017-12-27 09:11:26
Saudi Arabia’s stock market went higher in early trade Wednesday as petrochemical shares climbed on the back of an overnight surge in the Brent oil price above $67 a barrel for the first time since May 2015. Other Gulf bourses were little changed. The Saudi stock index gained 0.5 percent in the first 45 minutes as the top petrochemical stock, Saudi Basic Industries, rose 1.0 percent. Construction firms were also strong on hopes that higher oil revenues would give the government money to boost infrastructure spending next year; Khodari < 1330.SE> rose 1.3 percent. Dubai’s index, historically much less sensitive to oil prices, edged up only 0.1 percent. Al Safwa Mubasher Financial Services, which rarely trades, was by far the most heavily traded stock, dropping 10 percent to 0.999 dirham as 268 million shares changed hands, almost half the total number of its shares. The company did not issue a statement about the heavy volume and company officials could not immediately be reached for comment. Abu Dhabi’s index edged up 0.3 percent as Dana Gas Gas surged 3.9 percent, while Qatar firmed 0.2 percent as drilling rig provider Gulf International Services, a possible beneficiary of a stronger oil industry, gained 3.2 percent. More»
Amwal Al Ghad English - 2017-12-25 07:56:17
Gulf stock markets were mostly quiet in thin, early trade on Monday although Abu Dhabi-listed Dana Gas jumped ahead of a court hearing on its effort to avoid redeeming $700 million of Islamic bonds. Abu Dhabi’s index gained 0.5 percent as Dana jumped 11.8 percent; it was the market’s most heavily traded stock. A court in the emirate of Sharjah was expected later on Monday to hear a case in which Dana is seeking to have its sukuk declared invalid under United Arab Emirates law. However, the Sharjah court will not necessarily issue any ruling and the hearing could be adjourned. Legal actions related to the sukuk in both Sharjah and Britain may continue for months, even years before the case is resolved, people familiar with the case have said. Dubai’s index edged down 0.2 percent as amusement park operator DXB Entertainments lost 1.6 percent. But Union Properties, the most heavily traded stock, climbed 2.0 percent after saying it planned to list its ServeU facilities management unit in Dubai in the second half of 2018. Bahrain’s Al Salam Bank, the second most heavily traded stock in Dubai, jumped 5.8 percent after a 6.1 percent gain on Sunday, when a disclosure on the Bahrain exchange showed a key person involved with the bank had bought 250,000 shares. But Khaleeji Commercial Bank, another Bahraini bank which has soared in big trading volumes since it listed in Dubai last Tuesday, plunged 9.9 percent to 1.36 dirhams. Its shares in Bahrain sank 6.7 percent to 0.112 dinar, equivalent to 1.09 dirhams. Saudi Arabia’s index slipped 0.1 percent as Najran Cement dropped 2.4 percent after its board decided to halt its third production line, which has a daily capacity of 6,500 tonnes, and restart its second line, with a capacity of 3,000 tonnes, because of high inventories of clinker. Saudi cement shares have surged in recent weeks partly because of hopes for a pick-up in the cement industry as the government eases fiscal austerity. But Najran’s decision suggested improvement in the industry might not come quickly. In Qatar, the index edged down 0.2 percent but Qatar First Bank, the most heavily traded stock, rose 3.2 percent, continuing a rebound from record lows that began in late November. More»
Amwal Al Ghad English - 2017-12-07 07:00:19
Gulf stock markets look set to consolidate with a possible downward bias on Thursday in the absence of positive factors, and with geopolitical issues, including the conflict in Yemen and the diplomatic rift with Qatar, still dampening sentiment. However Saudi Arabia’s index, which fell 0.6 percent on Wednesday to 7,026 points, has strong technical support around 7,000 points, where the peaks in late October and November roughly coincide with the 200-day average, now at 7,015 points. MSCI’s broadest index of Asia-Pacific shares outside Japan has stabilised after sliding on Wednesday, while Brent oil is at $61.39 a barrel after falling more than $1 overnight. More»
Amwal Al Ghad English - 2017-12-04 07:54:19
Hope for a resolution to Qatar’s diplomatic dispute with four other Arab countries may buoy Gulf stock markets on Monday, while Saudi Arabia may also stay firm because of its technical breakout on Sunday. Qatar’s foreign minister said late on Sunday that Qatari Emir Sheikh Tamim bin Hamad al-Thani was expected to attend the annual summit of Gulf Arab heads of state in Kuwait on December 5 and 6. There was no immediate comment from other Gulf nations on the Qatari announcement, and events at the summit are difficult to predict. Nevertheless, some investors hope Sheikh Tamim’s attendance could be a step towards renewed dialogue with Saudi Arabia, the United Arab Emirates, Bahrain and Egypt. On Saturday, former Yemeni president Ali Abdullah Saleh signalled he was abandoning his support of the Iran-aligned Houthis - a shift that could pave the way to end three years of war in Yemen. So the Gulf may have a chance of easing two geopolitical crises that have weighed on markets in recent months. The Saudi stock index rose for an eighth straight day on Sunday, gaining 1.2 percent to 7,089 points and climbing above technical resistance around 7,000 points, which has capped the market since mid-October and roughly coincides with the 200-day average at 7,014 points. A clean break of the resistance - two straight daily closes - would point up to around 7,250 points, according to the height of the former downtrend channel dating back to mid-October. In the United Arab Emirates, where markets reopen on Monday after a long weekend, Dubai Investments announced it had raised its foreign ownership limit to 49 percent from 35 percent. But since the current actual ownership of all foreign investors is under 17 percent, there is no reason to expect any immediate impact on the stock. The global market environment is mixed, with MSCI’s broadest index of Asia-Pacific shares outside Japan up 0.4 percent and Brent oil slipping 35 U.S. cents to $63.38 a barrel, drifting away from a near 2-1/2 year peak of $64.65 touched last month. More»
Amwal Al Ghad English - 2017-11-30 08:55:56
Saudi Arabia’s stock market edged up in early trade on Thursday while Qatar’s bourse softened, as regional trade was thinned by the closure of the United Arab Emirates and Kuwait for public holidays. The Saudi index added 0.2 percent in the first hour as retailer United Electronics gained 2.3 percent after saying it had launched a partnership with online retailer Noon.com to be its exclusive supplier of home and electronic appliances in Saudi Arabia. In Qatar, the index fell 0.6 percent as Qatar Islamic Bank slipped 1.2 percent. But shipper Qatar Navigation , which has been rebounding from an eight-year low hit in mid-November, jumped a further 5.8 percent. More»