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 - 2018-01-23 07:36:51
Gulf stock markets may have a moderately firm tone on Tuesday, following two days of general weakness, as global bourses climb in response to the end of the U.S. government shutdown. MSCI’s broadest index of Asia-Pacific shares outside Japan is up 0.7 percent to a fresh record high while Brent oil has gained 0.5 percent to $69.38 per barrel, returning towards its recent three-year highs above $70. However, some major indexes face significant technical resistance. Saudi Arabia, last at 7,481 points, has resistance at the July peak of 7,586 points, while Dubai , last at 3,501 points, has in recent days failed a test of resistance around 3,540 points, which was support in October. In Kuwait, the biggest bank, National Bank of Kuwait , reported fourth-quarter earnings that were in line with estimates, while its proposed cash and bonus share dividend were the same as last year. But Boubyan Bank may attract some interest after recommending a 7 fils per share cash dividend and a stock dividend of 5 shares per 100 for 2017, up from 6 fils and 5 shares for 2016. More»
Amwal Al Ghad English - 2018-01-22 13:04:44
Gulf stock markets were sluggish in early trade on Monday with real estate developers weighing on Dubai because of continued concern about the impact of ample supply of new homes on the sector. The Dubai index lost 0.6 percent to 3,492 points as Emaar Properties dropped 0.8 percent and Deyaar and Union Properties both fell 0.7 percent. In the last several days the index has tested and failed to break resistance around 3,540 points, where the market bottomed last October - a negative short-term technical signal. Saudi Arabia’s index edged up 0.1 percent after an early drop. Al Yamamah Steel climbed 3.1 percent in heavy trade; its board proposed a second-half cash dividend of 0.50 riyal, down from 1.0 riyal in the first half, but also approved the start of two projects to produce equipment for solar and wind energy generation. Investment in the projects is expected to total 260 million riyals ($69.3 million). Qatar’s index slipped 0.2 percent as Medcare Group , which had doubled since mid-November, pulled back 2.2 percent. More»
Amwal Al Ghad English - 2018-01-22 07:17:42
Middle East stock markets may have little upside on Monday as global bourses are subdued and there is a lack of fresh, positive corporate news. Asian stock markets and U.S. S&P stock futures are marginally lower, restrained by the U.S. government shutdown, while Brent crude oil futures are at $68.86 a barrel, up 0.4 percent from their last close. The Saudi stock index slipped 0.3 percent on Sunday to 7,513 points, retreating from technical resistance on the July peak of 7,586 points, below which it has been consolidating for several days. It is not clear that the market has the energy to break through resistance for now. In Dubai, ports giant DP World may attract some interest after saying it had agreed on a venture with India’s National Investment and Infrastructure Fund that would invest up to $3 billion of equity to invest in ports, terminals, transport, and logistics businesses in India. More»
Amwal Al Ghad English - 2018-01-21 06:51:03
Gulf stock markets looks set to consolidate on Sunday with Saudi Arabia facing major technical resistance. The Saudi index last closed at 7,539 points, near the July peak of 7,586 points - a natural place for the rally of the past two months to pause. Dairy company Almarai reported fourth-quarter net profit of 513 million riyals ($136.8 million), down from 536 million riyals a year ago and below forecasts of 549 million riyals by SICO Bahrain and 531 million riyals by NCB Capital. It blamed a 2.6 percent decline in revenue on the loss of sales to Gulf and export countries, in an apparent reference to the embargo on Qatar. In Dubai, Union Properties said it had sold its entire stake in district cooling firm Emicool to Dubai Investments for 500 million dirhams ($136.2 million), but the sale may have little effect on the stock as Union Properties had said two weeks ago it would sell the stake. Proceeds will be used to develop in new areas. Union Properties said this month it had acquired a 5.68 percent stake in Egypt’s Palm Hills Development through its unit UPP Capital Investment. Dubai Investments said the purchase of the 50 percent of Emicool that it did not already own would have a positive impact on its consolidated financials, with EBITDA expected to increase by 110 million riyals. Shares on Wall Street rose modestly on Friday, with each of the major Wall Street indexes marking their third straight weekly gain. Brent oil was last at $68.61, down 1 percent on the day. More»
Amwal Al Ghad English - 2018-01-18 06:42:01
Gulf stock markets may consolidate on Thursday with Saudi Arabia’s index facing major technical resistance, although a few individual Saudi shares may be buoyed by positive corporate news. The Saudi index closed 0.1 percent higher at 7,540 points on Wednesday, coming off the day’s high after approaching major technical resistance on last July’s peak of 7,586 points. However, National Medical Care could attract interest on Thursday after saying it signed a 300 million riyal ($80 million) contract to provide services for three years to GOSI, the Saudi social insurance agency. Kingdom Holding may also be buoyed by news that a consortium building Jeddah Tower, billed as the world’s tallest skyscraper, signed a 620 million riyal ($165 million) contract for infrastructure work at the site. Kingdom is a member of the consortium and the contract award suggests Saudi authorities do not want the detention of its chairman Prince Alwaleed bin Talal in a corruption crackdown to derail its business. The global market environment is little changed, with MSCI’s broadest index of Asia-Pacific shares outside Japan up 0.1 percent and Brent crude oil up 0.2 percent to $69.50 a barrel, returning toward’s Monday’s three-year high of $70.37. More»
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»