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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        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        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        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 - World

Amwal Al Ghad English - 2017-10-21 09:36:18
Wall Street hit record closing highs on Friday and the S&P 500 posted a sixth week of gains after the U.S. Senate passed a budget resolution, lifting hopes that President Donald Trump’s tax-cut plan may move forward. Shares of General Electric (GE.N) reversed an early drop of 6.3 percent to end 1.1 percent higher, and the S&P industrials index .SPLRCI also finished up 1.1 percent. The company’s new chief executive vowed to shed more than $20 billion worth of assets after the company’s quarterly results badly missed Wall Street’s expectations. The Senate’s approval late Thursday of a 2018 budget blueprint could pave the way for Republicans to pursue a tax-cut package without Democratic support. “It’s just a reaction to the thought that just maybe there might be something coming from Congress in the way of tax reform,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Everybody had kind of given up hope, and after the comments over the last 24 hours, people are like, shoot, this may actually happen.” Stocks rallied following the November election of Trump, partly on his promises to cut taxes and reduce regulations. The S&P index of financials .SPSY, which are expected to benefit from the administration’s proposed policies, rose 1.2 percent and its components were among the day’s best performers. The small-cap Russell 2000 index gained 0.5 percent. Small-cap companies are likely to get a boost from tax reform. The Dow Jones Industrial Average .DJI rose 165.59 points, or 0.71 percent, to end at 23,328.63, the S&P 500 .SPX gained 13.11 points, or 0.51 percent, to 2,575.21 and the Nasdaq Composite .IXIC added 23.99 points, or 0.36 percent, to 6,629.05. All three indexes posted all-time closing highs, extending their recent run of records, and the Dow, which broke above 23,000 this week, rose 2 percent for the week. The Dow also registered a sixth week of gains while the Nasdaq posted its fourth. The S&P 500 was up 0.9 percent for the week while the Nasdaq added 0.4 percent. Some investors saw little reason to worry about the extended climb. “This has been a healthy advance. It has been a slow, steady grind upward. There’s been extraordinarily low volatility,” said Hank Smith, co-chief investment officer at Haverford Trust in Radnor, Pennsylvania. Investors continue to monitor news on potential candidates for the Federal Reserve chair position. Boosting stocks late Thursday, Politico reported Fed Governor Jerome Powell is the leading candidate to become Trump’s nominee, which many would consider a continuation of the current stock market-friendly monetary policy. Trump said in an interview with Fox Business Network on Friday he was considering tapping both Powell and Stanford University economist John Taylor for the central bank’s top two posts. Also on the earnings front, PayPal’s stock (PYPL.O) rose 5.5 percent after upbeat earnings. The pace of third-quarter reports should pick up next week, with results from Caterpillar (CAT.N) and other big names. Advancing issues outnumbered declining ones on the NYSE by a 1.55-to-1 ratio; on Nasdaq, a 1.58-to-1 ratio favored advancers. About 6.2 billion shares changed hands on U.S. exchanges. That compares with the 5.9 billion daily average for the past 20 trading days, according to Thomson Reuters data. More»
Amwal Al Ghad English - 2017-10-21 07:25:36
Asian markets closed higher on Friday after shaking off negative sentiment seen earlier in the day. Wall Street had wobbled and European stocks had taken a stumble overnight. Japan's Nikkei 225 held onto slight gains to close up 0.04 percent, or 9.12 points, at 21,457.64. The benchmark index has now closed higher for 14 straight sessions. Investors appeared unconcerned over potential uncertainty in the lead up to Japan's elections on Oct. 22. Japanese Prime Minister Shinzo Abe's coalition is likely to win a two-thirds majority, a poll from local outlet Kyodo News showed earlier this week. "Sunday's election will not usher in a new era in Japanese politics," said Miha Hribernik, senior analyst at Verisk Maplecroft, in a note. Across the Korean Strait, the Kospi edged up 0.67 percent to close at 2,489.54. Most blue-chip tech stocks pared losses made on Thursday: Samsung Electronics closed up 1.62 percent and SK Hynix gained 2.78 percent. Those gains offset moderate losses seen in manufacturing names. Down Under, the S&P/ASX 200 climbed higher by 0.18 percent to close at 5,907, with the utilities sub-index rising 1.72 percent to lead gains on the broader index. The Hang Seng Index climbed 1.06 percent by 3:01 p.m. HK/SIN, recouping some losses after closing nearly 2 percent down on Thursday. Experts attributed Thursday's fall to a range of factors including tighter liquidity and comments from the governor of China's central bank. People's Bank of China Governor Zhou Xiaochuan had warned Thursday that too much optimism in markets could lead to a collapse of asset prices, Reuters reported. Mainland markets gained after closing moderately lower in the previous session: The Shanghai Composite was added 0.28 percent to close at 3,379.4990 and the Shenzhen Composite rose 0.805 percent to end at 1,999.6776. India markets were closed for a public holiday. The Senate passed a budget proposal that allowed Republicans to move closer to eventually passing tax reform. The measure was passed with a vote of 51-49. The U.S. currency rose against the Japanese yen following those headlines to fetch 113.20 — above levels around the 112 handle seen most of this week. The dollar index, which tracks the greenback against a basket of six currencies, edged up to 93.472 at 2:46 p.m. HK/SIN. Yields on the 10-year U.S. Treasury note inched higher to 2.3574 percent after falling to 2.3178 percent on Thursday. "Global markets have flipped from a state of agony to one of ecstasy as the path has been cleared for the long-awaited U.S. tax reform to move forward," Stephen Innes, APAC head of trading OANDA, said in a note. Investors stateside also digested a Politico report that President Donald Trump favored Federal Reserve Governor Jerome Powell out of a pool of candidates being considered to succeed Fed Chair Janet Yellen. Powell is seen as less hawkish than Stanford University economist John Taylor, another candidate who had been regarded by market watchers as a front-runner. Trump is expected to make his decision early in November before he departs on a trip to Asia. U.S. markets, which initially recorded declines earlier in the session, finished Thursday near the flat line following the news. Still, the Dow Jones industrial average closed up 0.02 percent, or 5.44 points, at a record 23,163.04. Elsewhere, European stocks closed lower on Thursday after Spain's government said it would suspend the autonomy of Catalonia after its leader did not give clarity on the region's independence. The STOXX 600 declined some 0.6 percent and Spain's IBEX lost 0.74 percent. In individual stocks, Apple suppliers in Taiwan closed mixed after shares of the American tech giant slid in U.S. trade on reports of poor iPhone 8 sales: Largan Precision tumbled 2.96 percent, Hon Hai Precision Industry was down 0.88 percent, but Pegatron rose 2.03 percent. Over in Japan, shares of Nissan closed down 1.55 percent after the automaker said Thursday it was suspending production in Japan for a period. The suspension will take place for a minimum of two weeks as the automaker looks into issues with its inspection systems, Reuters reported. Shares of Kobe Steel finished the session 1.59 percent lower following headlines that it had continued to make up data even after investigations brought falsification issues to light. The company will hold a news conference later in the day, Nikkei said. The New Zealand dollar extended losses after tumbling in the last session on news that the Labour Party would form a coalition government with the nationalist party, New Zealand First. The Kiwi dollar traded at $0.6992, below levels around the $0.71 handle seen for most of the week. On the energy front, oil prices were firmer after settling more than 1 percent lower in the last session on profit-taking. Brent crude tacked on 0.4 percent to trade at $57.46 a barrel and U.S. West Texas Intermediate added 0.51 percent to trade at $51.55. More»
Amwal Al Ghad English - 2017-10-21 07:21:07
European markets closed mixed on Friday afternoon, as investors reacted to corporate earnings and monitored political developments in the region. The pan-European Stoxx 600 closed up 0.2 percent provisionally with major bourses in the region pointing in different directions. For the week, the benchmark was down by nearly 0.4 percent. Banks were the best performers Friday, with the sector finishing higher by one percent.Truckmaker Volvo soared to the top of the European benchmark after the Scandinavian firm released its latest figures. Sweden's biggest manufacturer reported a stronger-than-anticipated rise in quarterly core earnings as robust demand for heavy trucks more than offset costs from its supply chain. Volvo closed 7 percent higher on the news. Antofagasta and ArcelorMittal both closed over one percent higher after a firmer copper price supported shares of mining firms.Towards the bottom of the index, Sweden's Assa Abloy slipped more than two percent Friday. The world's biggest lock maker posted a modest increase in third-quarter profit as expected, but sales dipped in China. The second day of the EU Summit took place in Brussels Friday. Prime Minister Theresa May denied reports that the U.K. had increased its financial offer to the European Union as part of its steps to leave the bloc. Elsewhere, investors continued to monitor developments in Catalonia, after news emerged Thursday that Spain's central government would move to suspend the region's autonomy. Reports Friday said the Spanish government had agreed with the opposition Socialists to hold regional elections in January in Catalonia. Stateside, stocks were trading higher Friday as Europe markets closed after the Republicans took a step toward achieving tax reform. The U.S. Senate passed a budget proposal Thursday that allowed Republicans to move closer to eventually passing tax reform. The measure was passed with a vote of 51-49. More»
Amwal Al Ghad English - 2017-10-19 20:45:53
Stock markets in Europe ended lower on Thursday, as the crisis surrounding Catalonia escalated and earnings season delivered a mixed bag of results. The pan-European STOXX 600 fell more than 0.6 percent, with all but four sectors falling into negative territory. Catalonia crisis reaches new heights The Spanish central government stated Thursday morning that it would move to suspend Catalonia's autonomy after regional leader Carles Puigdemont failed to drop a bid for independence or provide clarity on the matter. The Spanish IBEX slipped 0.74 percent on the day. More»
Amwal Al Ghad English - 2017-10-19 09:47:27
London Stock Exchange Group Plc said Thursday that its chief executive Xavier Rolet will depart the bourse operator by the end of December 2018, just under a decade after he took the helm at the firm. LSE said it would start looking for his successor now. The group also reported a 17 percent rise in third-quarter total income to 486 million pounds ($641 million), as its clearing and FTSE Russell businesses grew strongly. More»
Amwal Al Ghad English - 2017-10-19 09:35:43
European stock markets dropped into the red Thursday morning, as the crisis surrounding Catalonia escalated and earnings season delivered a mixed bag of results. The pan-European STOXX 600 slipped 0.59 percent, with all major sectors and bourses falling into negative territory. More»
Amwal Al Ghad English - 2017-10-19 06:13:17
Major indexes in Asia were mixed on Thursday trade as investors digested a barrage of economic data releases out of China. The Nikkei 225 climbed 0.37 percent, extending gains after closing higher for 12 consecutive sessions on Wednesday. Across the Korean Strait, the Kospi declined 0.39 percent. Automakers climbed, but those gains were offset by falls in blue-chip tech names: Samsung Electronics fell 3.1 percent, SK Hynix declined 2.1 percent and Hyundai Motor rose 1.33 percent. Down Under, the S&P/ASX 200 closed up 0.1 percent at 5,896.1 as losses in major miners were offset by gains in banks and information technology stocks. The heavily-weighted financials sub-index advanced 0.49 percent. Greater China markets trended lower as investors digested the release of economic data earlier in the session. Hong Kong's Hang Seng Index was off 0.25 percent. On the mainland, the Shanghai Composite slid 0.51 percent and the Shenzhen Composite fell 0.557 percent. India markets are closed for a public holiday. Third-quarter GDP showed the Chinese economy grew 6.8 percent compared to a year ago, meeting analyst expectations. That was a touch softer than the 6.9 percent growth seen in the second quarter of the year. Other data releases were mixed. China's industrial production increased 6.6 percent in September compared to one year ago, beating the 6.2 percent forecast in a Reuters poll. September retail sales also topped expectations, increasing by 10.3 percent compared to the previous year, above the 10.2 percent forecast. Fixed asset investment for the month, however, came up short. More»
Amwal Al Ghad English - 2017-10-19 06:09:10
European markets are expected to open relatively mixed on Thursday, as earnings season and political turbulence in the region continue to shake up investor sentiment. Looking to the major bourses, the U.K.'s FTSE 100 is expected to open 3 points lower at 7,540, while the German DAX is set to start on a positive note, up 11 points at 13,054 and the French CAC down 3 points at 5,380, according to IG. Earnings will be in focus during Thursday's trading day, as several leading European corporates are set to report their most recent figures. Prior to the market open, Roche posted strong sales growth for the first nine months of 2017, and confirmed its outlook for the year in its latest earnings release. Sticking with Swiss companies, Nestle published its nine-month sales report, which saw the consumer group confirm its sales guidance for the year and reported a 2.6 percent increase in organic growth for the entire group, which was in line with a Reuters poll. Meantime, despite facing significant currency headwinds, Germany's SAP raised its full-year outlook and saw its total revenue for the third quarter come in at 5.59 billion euros ($6.59 billion), up 8 percent on a constant currency basis. Unilever, Philips Lighting and Publicis have also reported earnings before the open; while Michelin and AccorHotels are expected to post corporate information during the day. In data news, retail sales data for the U.K. is due out in morning trade. Switching focus to politics, Brexit and Catalonia are both expected to be at the front of investors' minds on Thursday, as new events emerge. Thursday will mark the second deadline for Catalonia to officially declare independence. Spanish Prime Minister Mariano Rajoy has said he will invoke Article 155 of the Spanish Constitution if the declaration is not withdrawn. Meanwhile in Brussels, the first day of the EU Summit is set to commence, where leading members of the European Union are set to meet in the Belgian capital. One key topic which is expected to be up for discussion will be that of how the Brexit negotiations are coming along. On Wednesday, European Council President Donald Tusk said he wasn't expecting any breakthroughs when it comes to talks over Britain's exit from the political economic bloc; Reuters reported. In international markets, major indexes in Asia traded mixed on Thursday, as investors pored over the latest economic data from China, including gross domestic products figures for the third quarter, which met market expectations. Elsewhere, the Dow Jones industrial average closed above 23,000 for the first time on Wednesday. More»
Amwal Al Ghad English - 2017-10-18 10:29:54
Online micro-lending company Qudian is about to go public at the New York Stock Exchange (NYSE) Wednesday, and it is set to be one of the largest U.S.-listed floats by a Chinese company this year. In its prospectus, Qudian said it was offering 37.5 million American Depository Shares with a float price range of $19-$22 per share. The company said it could offer up to 43.1 million shares if underwriters exercised an option. Reuters, citing sources, reported that the initial public offering was ultimately priced at $24 per share and that the original offering raised about $900 million. That gave Qudian a market value of as much as $7.9 billion, according to Reuters, which said that would make it the largest U.S.-listing by a Chinese company this year. The company provides short-term micro loans through its mobile app to China's young workers who are looking for extra cash to be able to affords things like premium-priced apparel or concert tickets. For example, a user can borrow about 400 yuan (about $60), with a loan period of one month, to buy a pair of sneakers. Loan periods could also be a week, three months or even six months. Loans are almost instantly approved, Qudian claimed in a corporate video, because it uses data analytics to assess prospective borrowers. The company said it looks beyond traditional financial metrics and into a variety of social and behavioral attributes to assess a borrower's ability to repay a debt. Qudian is also backed by Alibaba affiliate Ant Financial, which is a principal shareholder in the company. (Approved loans are transferred into borrowers' Ant Financial-managed Alipay accounts.) The micro-lending company said it became profitable in 2016, when it posted net income of about $85 million on total revenue of $212.8 million. In the six months that ended June 30 of this year, revenue was $270.4 million and net income came at $143.6 million, according to Qudian. Morgan Stanley, Credit Suisse, Citigroup, CICC, and UBS are joint book runners for the IPO. More»
Amwal Al Ghad English - 2017-10-18 10:29:12
European stock markets were slightly higher during Wednesday morning trade, as investors monitored the latest batch of earnings and economic data releases. The pan-European Stoxx 600 inched up 0.1 percent shortly after the opening bell, with almost all sectors and major bourses in positive territory. Europe's autos and technology stocks were the best performers in early morning deals, up around 0.3 percent on earnings news. Looking at individual stocks, Dutch chemicals group Akzo Nobel posted its third-quarter results Wednesday, with the company anticipating positive developments for the EMEA region (except for the U.K.) and North America going forward; however added that "headwinds" are expected to continue. Its shares were down almost 2 percent in early morning trade. Germany's Zalando published its latest trading update on Wednesday, saying it would enter the beauty market in 2018 as the posted strong growth in its most recent quarter. Its shares were 2 percent lower on the news. Elsewhere in individual stock news, the U.S. Securities and Exchange Commission charged Australian-British miner Rio Tinto and two of its former top executives with fraud on Tuesday. The SEC stated that the execs had inflated the value of coal assets in Mozambique, which was acquired for $3.7 billion and sold years later for $50 million, according to Reuters. Its shares were little changed shortly after the opening bell. Meanwhile, a company spokesman at British supermarket group Sainsbury's confirmed to media outlets on Tuesday that the retailer was looking to cut up to 2,000 jobs. Its shares were down 1.5 percent. Catalonia, Brexit Politics will continue to rumble on in the background on Wednesday, with investors waiting for the latest news surrounding Brexit and Catalonia. Spanish stocks will be closely watched as news emerged Tuesday that Catalonia refused to give in to the Spanish government's demand of renouncing its independence. Meanwhile, Brexit continues to be up for discussion, with U.K. Prime Minister Theresa May expected to speak with fellow leaders of the European Union on Thursday. Earlier this week, both May and European Commission President Jean-Claude Juncker called for the pace of Brexit negotiations to be accelerated. Overseas, the Communist Party's once-every-five-year Party Congress kicked off on Wednesday, with President Xi Jinping commenting on a range of topics during his speech including corruption, the benefits of socialism, and why the "One China" principle should be maintained. Elsewhere, a number of European Central Bank members are expected to deliver remarks in different countries Wednesday, including President Mario Draghi and Benoît Cœuré, member of the ECB's executive board. In data news, unemployment figures for the U.K. are due out in morning trade, along with construction output for the euro zone. More»