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        Orascom Telecom Holding (OT)   3.92        Rakta Paper Manufacturing   4.39        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        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        Canal Shipping Agencies   7.39        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        United Housing & Development   8.93        Raya Holding For Technology An   4.57        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 - 2017-10-02 08:24:36
Kuwait’s graduation to emerging-markets classification by index compiler FTSE Russell could prompt inflows of as much as $700 million from investors, said the money manager run by the nation’s largest lender. The Gulf country won inclusion in FTSE Russell’s list during the weekend, rewarding efforts by local regulators and the stock exchange to modernize trading systems and attract local and foreign investors. Kuwait’s main equity index has rallied 16 percent this year, the best performance among major Gulf markets, boosted by speculation it would gain promotion. Financial stocks are best-placed to benefit from the decision, according to Husayn Shahrur, the managing director for Middle East North Africa at NBK Capital, the asset management division of National Bank of Kuwait. The firm had $6.3 billion in assets under management as of Sept. 15. Here are Shahrur’s views on Kuwait’s upgrade: How much in inflows is expected? It is too early to provide an accurate figure or even a tight range, given that the actual weighting of the country and the stocks to be included will be determined primarily by the liquidity for the period preceding the actual inclusion, which can be very different from current levels. Also, the actual weight will depend on whether the implementation will be in one or two phases. Current estimates for passive inflows range from as low as $100 million to as high as $700 million. The size of active inflows will depend on the attractiveness of the market around the time of inclusion. Which industries do you prefer? The best way to play the inclusion is to hold fundamentally sound companies with attractive valuations, and which are likely to be included. The banking sector is always at the core of any Kuwait exposure. Is Kuwait now closer to potential MSCI Inc. inclusion? In general, FTSE and MSCI have somewhat different criteria for upgrading a country to emerging-market status. Currently, Kuwait is not on the MSCI EM watchlist. Given the progress that the CMA and Boursa Kuwait have made, there is a good chance that the market will be added to the EM watchlist next June. More»
Amwal Al Ghad English - 2017-10-01 08:21:17
Saudi Arabia’s stock market may drop Sunday after index compiler FTSE decided to delay including Riyadh in its secondary emerging market index, while Kuwait may get little if any boost from its inclusion because of a low projected weighting. In its annual country classification review on Friday, FTSE praised Riyadh’s market reforms but said it would need more time to evaluate their practical impact. It will therefore assess Saudi Arabia again next March: “It is anticipated that Saudi Arabia will meet the requirements for inclusion as a Secondary Emerging market from early 2018.” The six-month delay will make little difference to the market in the long run but it may be taken as negative by retail investors who had been hoping to front-run a positive decision. The Saudi index fell 0.6 percent last week amid rumours that FTSE’s decision would be negative; blue chips which would probably have entered the FTSE emerging market index were some of the worst performers. Meanwhile, FTSE said Kuwait would enter its emerging market index in September 2018. This had been expected by many investors and they may be disappointed by the fact it now appears Kuwait could get only a very small weighting in the index. Before the decision, some analysts were talking of passive fund inflows of several hundred million dollars into Kuwait due to a positive decision. In a research report on Saturday, however, Arqaam Capital calculated that Kuwaiti stocks might only have a combined weighting of 0.11 percent, resulting in $151.5 million of inflows. The Kuwaiti index fell last week on “market chatter that Kuwait will represent only 0.1 percent of the index”, said Bader al-Ghanim, head of regional asset management at Kuwait- based Global Investment House. Brent crude oil settled at $57.54 a barrel on Friday, up 1.2 percent for the week and notching up a third-quarter gain of around 20 percent. The MSCI all-world market index rose 0.4 percent. However, Gulf markets, worried by sluggish economic growth and austerity policies in the region, have been reacting little to strong oil prices and global equity trends. Offiial data released on Saturday showed Saudi Arabia’s economy back in recession; gross domestic product, adjusted for inflation, shrank 2.3 percent from the previous quarter in the April-June period, after dropping 3.8 percent in the first quarter. More»
Amwal Al Ghad English - 2017-10-01 06:55:00
Saudi Arabia’s stock market may fall on Sunday after index compiler FTSE decided to delay including Riyadh in its secondary emerging market index, while Kuwait may get little if any boost from its inclusion because of a low projected weighting. In its annual country classification review on Friday, FTSE praised Riyadh’s market reforms but said it would need more time to evaluate their practical impact. It will therefore assess Saudi Arabia again next March: “It is anticipated that Saudi Arabia will meet the requirements for inclusion as a Secondary Emerging market from early 2018.” The six-month delay will make little difference to the market in the long run but it may be taken as negative by retail investors who had been hoping to front-run a positive decision. The Saudi index fell 0.6 percent last week amid rumours that FTSE’s decision would be negative; blue chips which would probably have entered the FTSE emerging market index were some of the worst performers. Meanwhile, FTSE said Kuwait would enter its emerging market index in September 2018. This had been expected by many investors and they may be disappointed by the fact it now appears Kuwait could get only a very small weighting in the index. Before the decision, some analysts were talking of passive fund inflows of several hundred million dollars into Kuwait due to a positive decision. In a research report on Saturday, however, Arqaam Capital calculated that Kuwaiti stocks might only have a combined weighting of 0.11 percent, resulting in $151.5 million of inflows. The Kuwaiti index fell last week on “market chatter that Kuwait will represent only 0.1 percent of the index”, said Bader al-Ghanim, head of regional asset management at Kuwait- based Global Investment House. Brent crude oil settled at $57.54 a barrel on Friday, up 1.2 percent for the week and notching up a third-quarter gain of around 20 percent. The MSCI all-world market index rose 0.4 percent. However, Gulf markets, worried by sluggish economic growth and austerity policies in the region, have been reacting little to strong oil prices and global equity trends. Offiial data released on Saturday showed Saudi Arabia’s economy back in recession; gross domestic product, adjusted for inflation, shrank 2.3 percent from the previous quarter in the April-June period, after dropping 3.8 percent in the first quarter. More»
Amwal Al Ghad English - 2017-09-27 12:02:51
Car insurance and rental companies were some of the chief gainers in a generally weak Saudi Arabian stock market early Wednesday after news that women would be allowed to drive. King Salman issued Tuesday a royal decree lifting the driving ban; it will be implemented by June 24, 2018, according to state news agency SPA. There are about 10 million women, including foreigners, over the age of 20 living in the kingdom. Shares in all of the 30 listed insurers that provide auto insurance rose, led by Alrajhi Co for Cooperative Insurance, which surged 9 percent. Car rental company United International Transportation jumped 6.0 percent. The main Saudi stock index, however, fell 0.4 percent in the first 45 minutes of trade as investors worried that index compiler FTSE might issue a negative decision when it determines whether to upgrade Riyadh to emerging market status at the end of this month. Most blue chips, which analysts believe would become members of FTSE’s Secondary Emerging Market Index in the event of a positive decision, were weak, including dairy maker Almarai , which fell 0.2 percent. In Doha, the index fell 0.6 percent, snapping a six-day winning streak. All but three of the 20 most valuable shares fell, including Qatar Insurance, which declined 1.4 percent. In the United Arab Emirates, Dubai’s index rose 0.4 percent as Emaar Properties added 0.9 percent. The Abu Dhabi index was down 0.1 percent. More»
Amwal Al Ghad English - 2017-09-26 10:24:30
Stock markets in the Gulf surged early Tuesday as crude oil prices climbed to a two-year high. Brent oil climbed 3.8 percent overnight to settle at $59.02 a barrel after major producers said the global market was on its way to rebalancing, and the commodity traded near that level on Tuesday morning. Riyadh’s index rose 0.5 percent as all 13 petrochemical shares that were trading on Tuesday morning rose, including bellwether Saudi Basic Industries which was up 1.0 percent. The main stock index had dropped 1.4 percent on Monday, diverging from Brent oil, amid rumours that index compiler FTSE might not upgrade Riyadh to emerging-market status on Sept. 29. Other stocks which had been hit on Monday were also up, including dairy maker Almarai, which rebounded 0.6 percent. Qatar’s stock index was up 0.6 percent, heading for its sixth consecutive session of gains. Commodity linked shares were some of the top performers, with oil and drilling service provider Gulf International Services added 3.5 percent. The Dubai index was up 0.3 percent as 12 shares rose and 10 others declined. In Abu Dhabi, Dana Gas rose 1.4 percent, recovering slightly from its steep declines, as a London court hearing resumed on Monday on its maturing sukuk issue. The main index was flat. More»
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»