amwalalghad :: Arab

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Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        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        National Real Estate Bank for    11.84        Egyptian Chemical Industries (   7.26        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        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        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        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 - 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»
Amwal Al Ghad English - 2016-06-21 09:11:30
Stock markets in the Gulf were firm early Tuesday, boosted by opinion polls and bookmakers' odds suggesting the "Remain" camp might win Britain's referendum on European Union membership this week, and as oil held over $50 a barrel. In Abu Dhabi, National Bank of Abu Dhabi pulled back 1.7 percent after surging 20 percent in the previous two days on news of its merger talks with First Gulf Bank. But FGB edged up 0.4 percent, and Union National Bank added 2.1 percent after Arqaam Capital said in a note that after the proposed merger between NBAD and FGB, "we expect UNB to be next". It said Abu Dhabi Commercial Bank might offer substantial premium to UNB shareholders in a merger; ADCB shares did not change hands in early trade. Dubai's index was up 0.3 percent, buoyed by mid- and large cap stocks. Dubai Parks and Resorts climbed 1.4 percent. Saudi Arabia's index edged up 0.2 percent after half an hour of trade with the main support from petrochemical shares. Saudi Basic Industries was up 0.3 percent. Real estate developer Knowledge Economic City gained 0.7 percent after it sold a plot of land for 22.8 million riyals ($6.1 million) in Medina to International Medical Center, an affiliate of Fitaihi Holding Group, which plans a project on the site. Shares in Fitaihi were up 0.6 percent. More»
Amwal Al Ghad English - 2016-06-20 08:57:11
Most Gulf stock markets were firm in early trade on Monday while National Bank of Abu Dhabi (NBAD) continued to climb in response to its merger talks with First Gulf Bank (FGB). Shares in NBAD climbed 7.6 percent after surging their 15 percent daily limit on Sunday, while FGB was down 2.7 percent after an 11.5 percent jump in the prior session. Many investors are assuming that any share swap in a merger would favour NBAD holders. Other Abu Dhabi banks also rose sharply on Sunday on speculation about more potential mergers in the over-crowded banking sector, but that speculation eased on Monday. Abu Dhabi Islamic Bank fell back 3.9 percent after gaining 4.6 percent on Sunday. The Abu Dhabi index dropped back 0.4 percent after jumping 4.7 percent on the previous day. In Dubai, the index added 0.4 percent with gainers outnumbering losers 18 to three. Builder Arabtec was up 1.5 percent and Emaar Properties added 0.8 percent. Heavyweight banking shares advanced in Doha, helping pull the index up 0.1 percent. The largest lender by assets in the Gulf, Qatar National Bank, rose 0.9 percent and Islamic bank Masraf Al Rayan added 0.5 percent. Saudi Arabia's index gained 0.2 percent in the first 15 minutes of trade. Construction and engineering contractor Abdullah Al Khodari jumped 3.7 percent, on hopes the construction sector is due for a surge in demand following the 2.5 percent land tax on undeveloped urban commercial and residential land, approved by the Saudi cabinet late last week. The tax may push more land out into the market where it can be developed. But companies with large land banks could lose; NCB Capital said in a note that the land tax would have a negative impact on Dar Al Arkan, whose shares were flat on Monday morning. More»
Amwal Al Ghad English - 2016-06-19 09:15:43
Shares in Abu Dhabi banks skyrocket early on Sunday on news that National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB) were in merger talks, while most other stock markets in the Gulf were firm. NBAD and FGB confirmed in a brief statement on Sunday that they were discussing a merger or combination of their businesses, in what would create the largest bank by assets in the Middle East and Africa. Many analysts said it was too early to take positions in the stocks before details were known. Some said a merger could benefit shareholders of both banks - Arqaam Capital said FGB would benefit from a stronger wholesale banking operation while NBAD was underepresented in retail banking - but HSBC predicted a pure merger would benefit only NBAD, while a merger through acquisition would destroy shareholder value at both banks. "A share swap scenario presents significant dilution risks to shareholders of both banks," HSBC said. Nevertheless, local retail investors cheered the idea of an Abu Dhabi mega-bank, with NBAD shares jumping their 15 percent daily limit and FGB gaining 7.7 percent. Other Abu Dhabi bank shares also rose, partly on speculation that they might be involved in further mergers and acquisitions activity as the industry consolidated. Union National Bank climbed 4.5 percent. Abu Dhabi's main stock index added 3.3 percent. Dubai's index rose 0.5 percent, also supported by banks. Dubai's largest listed lender, Emirates NBD, gained 1.7 percent. Saudi Arabia edged up 0.4 percent in a broad-based climb. Petrochemical shares were strong after oil prices rebounded on Friday, with the sector's index rising 0.9 percent. But Qatar's index index slipped 0.4 percent as declining stocks outnumbered gainers 13 to seven. More»