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        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        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        Egyptians Housing Development    1.94        United Arab Shipping   0.43        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        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        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        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        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        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 - 2016-07-10 10:22:05
Saudi Arabia's stock market rose in early trading on Sunday, the first day many Middle Eastern bourses re-opened after the Eid al-Fitr holiday, while the performance of other regional exchanges were mixed. The main Tadawul index rose 0.8 percent, with most blue chip stocks higher, including Al Rajhi Bank and Saudi Basic Industries Corp, which were 2.6 percent and 0.3 percent higher respectively. Saudi Arabia's midcaps were also broadly firmer on the first day of trading since June 30, led by Fawaz Alhokair and Dar Al Arkan which jumped respectively 4.3 percent and 7 percent. Al Tayyar Travel Group was up 2.8 percent after it announced an agreement with Starwood Hotels to rebrand a recently-refurbished hotel in the holy city of Mecca as a Sheraton. Egypt's bourse, closed for the last three days of last week, rose 3 percent on the back of gains in global markets. Elsewhere, Abu Dhabi's exchange was 0.3 percent lower, even though there is speculation about more mergers and acquisitions activity in the emirate after a spate of big deals, including a proposed merger of First Gulf Bank and National Bank of Abu Dhabi. Union National Bank was 3.9 percent higher, and Abu Dhabi National Energy Company up 3.9 percent, taking their gains in the past four sessions to 14.3 percent and 10.2 percent respectively. Both are seen as among the most plausible candidates for consolidation, following confirmation last week that the boards of National Bank of Abu Dhabi and First Gulf Bank had agreed to a merger. These two banks were down 1 percent and 0.4 percent respectively on Sunday. Their proposed deal followed days after the government ordered a tie-up between state investment funds Mubadala and International Petroleum Investment Company. Dubai's bourse was marginally higher, led by a 3.5 percent rise in construction firm Arabtec. Oman's stock market was also slightly higher. Kuwait's exchange was down 0.3 percent, weighed down by a 1.7 percent decline in heavyweight National Bank of Kuwait . More»
Amwal Al Ghad English - 2016-07-04 09:22:10
Stock markets in the United Arab Emirates inched up in early trade on Monday with Abu Dhabi's exchange backed by government owned shares while Qatar's largest listed developer kicks off second quarterly financial reports on a strong footing. Abu Dhabi's index was up 0.2 percent with National Bank of Abu Dhabi extending its 4.0 percent gains from the previous session to add 1.5 percent. On Sunday NBAD and First Gulf Bank boards approved the merger via a share swap. FGB, however, was down 0.8 percent after closing up 2.0 the previous session. Abu Dhabi Islamic Bank was the top gainer amongst its peers, gaining 2.1 percent. Abu Dhabi National Energy added 3.9 percent. Shares in the energy company, with majority owned by the government, have gained more than 4 percent since Abu Dhabi's government announced on June 29 the merger of it two sovereign wealth funds Mubadala Development and International Petroleum Investment Co. (IPIC). Dubai's index added 0.6 percent, with Dubai Parks and Resorts up 1.6 percent. Shares in the Six Flags amusement park builder are now up 48 percent year-to-date. Qatar's Barwa Real Estate kicks of the Gulf's second quarter result season and shares in the developer gained 2.0 percent after it reported a near-trebling of second-quarter net profit on Monday, according to Reuters calculations. Barwa made a net profit of 550 million riyals ($151.1 million) compared with a profit of 193 million riyals in the prior-year period. More»
Amwal Al Ghad English - 2016-07-03 09:34:50
Abu Dhabi banking shares soared in early trade on Sunday after the boards of directors of First Gulf Bank and National Bank of Abu Dhabi approved a proposed merger of the banks, aiming to complete it in the first quarter of 2017. Shares in NBAD jumped 5.6 percent to 10.20 dirhams while FGB gained 4.0 percent to 13.10 dirhams. They were the market's two most heavily traded stocks. The merger would be completed via a share swap which would result in shareholders of FGB receiving 1.254 new NBAD shares for every one FGB share. That ratio appears to favour NBAD holders greatly, but several analysts said investors' general optimism towards the merged entity meant selling of FGB shares might remin minor. "The initial reaction was a cheer because markets like the fact the merger is happening and it's a monumental size," said one regional banking equity analyst. In the long run the efficiencies that will be achieved through cost-cutting and reduced competition will be positive not only for the lenders involved but for the sector as a whole, the analyst added. Jaap Meijer, head of equity research at Dubai-based Arqaam Capital, said expected synergies were "substantial" in terms of lower funding costs, expansion of the banks' product ranges and cost reduction. "Going into the deal we believe that NBAD is undervalued while FGB is slighly overvalued," he said, adding that the deal could spur mergers of other banks including Union National Bank and Abu Dhabi Commercial Bank. Shares in UNB jumped 8.0 percent and ADCB was up 3.3 percent. The main Abu Dhabi index was up 1.7 percent. In Dubai, the benchmark was up 0.2 percent with most activity concentrated in second- and third-tier stocks. Shuaa Capital gained 1.7 percent. Doha's main index was flat with telecommunications operators among the top performers. Vodafone Qatar was up 0.8 percent. Saudi Arabia's market is closed throughout this week for Eid Al Fitr holidays. More»
Amwal Al Ghad English - 2016-06-30 08:37:19
Gulf stock markets pushed up early on Thursday in line with a positive global trend for equities and oil prices, but trade was quiet before next week's long Eid al-Fitr holidays. Saudi Arabia's index was up 0.2 percent in the first 15 minutes. Big petrochemical producer Saudi Basic Industries added 0.6 percent. Shares in L'azurde Company for Jewellery, which rose 7.6 percent when they listed on Wednesday, edged down 0.3 percent. The stock, a play on the Saudi retail sector, has so far not performed as well as most new Saudi listings, as consumers' discretionary income has been hit by an economic slowdown caused by government austerity steps. Dubai's index rose 0.5 percent. Marka, a small operator of retail outlets whose shares usually see tiny volumes, was the most active stock, jumping 4.4 percent. Abu Dhabi added 0.8 percent, buoyed by a 2.9 percent rise in First Gulf Bank and a 1.5 percent rise by National Bank of Abu Dhabi, which are in merger talks with each other. More»
Amwal Al Ghad English - 2016-06-29 09:23:03
Major stock markets in the Arab Gulf firmed in early trade on Wednesday, backed by recoveries in oil and global equity prices after the shock of Britain's vote to leave the European Union last week. Riyadh's index added 0.7 percent in the first 45 minutes of trade, buoyed by the petrochemcial sector as oil prices rose back towards $50 a barrel. Brent futures were up 1.0 percent in Asian trade. Shares in retailer L'azurde Company for Jewellery surged their 10 percent daily limit to 40.70 riyals as they listed in Riyadh. The company sold 12.9 million shares in its initial public offer at 37.0 riyals per share. Main competitor Fitaihi Holding rose 0.6 percent. L'azurde is the first retail company to list in Saudi Arabia this year, and its stock price performance in coming months may depend on the outlook for discretionary spending in the midst of an economic slowdown due to low oil prices. Dubai's stock index rose 0.2 percent with the main support from Emaar Properties, up 0.2 percent, and Arabtec, which was 1.5 percent higher. But Dubai Parks and Resorts, the most heavily traded stock, dropped 1.9 percent after the amusement park developer said on Tuesday it had made an exception to its exclusive right to develop and operate Six Flags-branded theme parks in the Gulf Cooperation Council, in order to let Six Flags help Saudi Arabia build theme parks Abu Dhabi's index edged up 0.4 percent with Abu Dhabi National Energy (TAQA), the top gainer, rising 4.1 percent. Abu Dhabi said on Wednesday it would merge state investment funds Mubadala Development Co and International Petroleum Investment Co to improve their financial performance; this could signal more action to restructure Abu Dhabi's state assets, such as loss-making TAQA. In Qatar, stocks that are members of the MSCI emerging market index were the main drag on the benchmark, which was down 0.5 percent. Islamic lender Masraf Al Rayan fell 0.9 percent and Qatar National Bank lost 0.7 percent. More»
Amwal Al Ghad English - 2016-06-28 09:16:23
Stock markets in the Gulf were mixed in quiet trade early Tuesday as global markets stabilised following the shock of Britain's vote to leave the European Union (EU). With oil prices rebounding, investors feel Brexit may have little impact on Gulf economies, although weakness in the pound and euro could affect Dubai's real estate and tourism sectors. Brent oil was up 1.7 percent to $47.95 a barrel in Asian trade. Ramadan and summer holidays are limiting activity, however, and deterring investors from taking large positions given the risk of more global market instability. Saudi Arabia's market will be closed throughout next week for Eid al-Fitr. The Saudi index was up 0.2 percent in the first 15 minutes of trade on Tuesday, largely because of second- or third-tier stocks favoured by local retail investors such as Tihama Advertising, up 4.6 percent. Dubai's index was flat, with activity also focusing on smaller stocks such as HITS Telecom, the most actively traded share. It was up 2.3 percent. In Dubai, a 0.7 percent decline by Aldar Properties helped to pull the index down 0.3 percent, but most of the 10 most heavily traded stocks barely moved. Qatar edged down 0.1 percent but Qatar National Bank , the Gulf's largest listed lender, climbed 0.6 percent. More»
Amwal Al Ghad English - 2016-06-26 15:17:44
Middle East stocks dropped sharply on Sunday because of Britain's vote to leave the European Union but Gulf bourses came well off their lows. Egypt was hardest hit because of concern that fund inflows into the country could shrink further. Most of the Gulf does not depend heavily on foreign capital or non-oil exports, so the main threat to it from Brexit is that slower growth in Europe could push down oil prices; Brent oil sank 4.9 percent to $48.42 a barrel on Friday. Monica Malik, chief economist at Abu Dhabi Commercial Bank, said that among the six Gulf Cooperation Council economies, she expected the greatest impact of a weak pound and euro to be felt in the United Arab Emirates, because its large tourism and real estate sectors were vulnerable to exchange rate moves. "We see a weaker private consumption and investment outlook in the UAE following Brexit," she wrote in a report. She also noted that while Brexit was likely to deter any U.S. interest rate hike for the time being, it could require GCC economies to tighten fiscal policy further to limit the widening of their deficits and protect financial market sentiment. "Moreover, with the fall in oil prices and elevated global market uncertainties, foreign borrowing rates for GCC entities will likely increase. This will place more pressure on domestic borrowing and potentially push up interbank rates further." But so far, movements in Gulf forex forwards and sovereign debt insurance costs since the British referendum have been minor, suggesting foreign investors are not for now using Brexit as a cue to speculate heavily against GCC assets. One-year U.S. dollar/Saudi riyal forwards, used to hedge against the risk of future currency depreciation, barely moved on Friday and Sunday, staying in the range of the past few weeks. High-grade Gulf bond prices moved little. Five-year Saudi credit default swaps have risen 6 points to 182 points but that is a small move given the volatility in global markets, and CDS are below highs hit earlier this month. Sebastien Henin, head of asset management at Abu Dhabi's The National Investor, said further selling of stocks in the UAE and Qatar could not be ruled out if Brexit caused risk-averse global funds to cut their allocations to emerging markets in general. But he said a significant fall in demand for oil was unlikely. "I'm not so pessimistic - the markets face some headwinds, but it's manageable. I'm not expecting oil prices to dive." More»
Amwal Al Ghad English - 2016-06-26 09:56:12
Gulf stock markets fell sharply in early trade on Sunday in response to the global market turmoil caused by Britain's decision to leave the European Union. Dubai's index was down 4.6 percent after 10 minutes to 3,211 points, near technical support on the May low of 3,197 points. More»
Amwal Al Ghad English - 2016-06-26 09:18:29
Saudi Arabia's stock market fell sharply at the opening on Sunday in response to Britain's decision to leave the European Union, but blue chips held up relatively well and the biggest losses were in smaller speculative stocks favoured by local retail investors. The main index was down 3.7 percent after five minutes of trade. Among speculative stocks, Saudi Fisheries tumbled 6.2 percent. More»
Amwal Al Ghad English - 2016-06-22 09:07:14
Firmer oil prices supported Gulf stock markets in early trade on Wednesday but trading volumes were thin as most investors stayed on the sidelines before Britain's in-or-out European Union referendum on Thursday. Saudi Arabia's benchmark added 0.5 percent in the first 20 minutes as Brent crude held over $50 a barrel. Saudi Basic Industries, the Gulf's largest listed petrochemical producer, added 0.9 percent and the banking sub-index was up 0.5 percent. In Abu Dhabi, Union National Bank jumped 5.1 percent, heading for a second day of strong gains after Arqaam Capital said in a note on Tuesday that following the proposed merger between National Bank of Abu Dhabi and First Gulf Bank, "we expect UNB to be next". It said Abu Dhabi Commercial Bank might offer a substantial premium to UNB shareholders in a merger; ADCB shares did not change hands in early trade. NBAD, which soared earlier this week, edged up 0.6 percent while FGB fell 1.2 percent. The main Abu Dhabi index edged down 0.03 percent, weighed down by a 0.5 percent decline in blue-chip Etisalat . Dubai's index edged up 0.3 percent with most turnover seen in Dubai Parks and Resorts and Emaar Properties. The amusement park developer rose 2.0 percent and the builder of the tallest tower in the world gained 0.6 percent. In Qatar, the main index added 0.1 percent with gainers outnumbering losers eight to seven. Ezdan Holding Group , the largest listed developer, rose 1.1 percent. More»