amwalalghad :: Savola and Almarai drag down Saudi index, Dana Gas up

Your English Portal To Arab Economy

Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        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        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        Universal For Paper and Packag   4.94        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        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        

Savola and Almarai drag down Saudi index, Dana Gas up


Published Wednesday, 13 September 2017 11:38 | Written by Amwal Al Ghad English

Shares of Saudi Arabia’s top food producers, Savola and Almarai, fell on Wednesday after Savola said it was selling a small stake in the dairy maker while Dana Gas strengthened in Abu Dhabi.

The Riyadh index was down 0.4 percent with Savola down 1.9 percent at 46.50 riyals after 35 minutes of trade, pulling back from an intra-day high of 49.60 riyals touched in the opening minutes of the session.

Savola said it was selling a 2 percent stake in Almarai for 1.12 billion riyals ($308 million) through an accelerated bookbuilding process, with 16 million shares on offer at 70 riyals each.

Analysts said the deal could help create liquidity for Savola in case it conducts acquisitions. If the sale is fully completed, Savola will record a profit of 694.1 million riyals in the third quarter, the company said.

Shares in Almarai slumped 5.9 percent to 77.00 riyals. As of Tuesday’s close it had risen almost 20 percent this year, outperforming the main market index by a large margin.

Banque Saudi Fransi was down 1.0 percent, extending Tuesday’s 4.2 percent loss after billionaire Prince Alwaleed bin Talal’s Kingdom Holding agreed to buy almost half of Credit Agricole’s stake in the Saudi lender.

Analysts are split on how the deal could affect Saudi Fransi. Some believe it is good news to have Alwaleed on the board, while others think Credit Agricole may ultimately sell all its shares, hurting the Saudi bank in the long run.

Shares in Kingdom Holding, which are often sparsely traded, were up 0.9 percent in relatively active trade after the previous session’s 5.1 percent gain.

Qatar’s index fell 0.2 percent after hitting a 52-month closing low on Tuesday. Seven of the top 20 most valuable companies dropped, including telecommunications operator Ooredoo, which was down 2.0 percent.

In Dubai, the index slipped 0.2 percent as Dubai Investments fell 1.3 percent, while Abu Dhabi’s index was down 0.1 percent. Dana Gas, however, climbed 2.5 percent in active trade.

Shares of the energy company have mostly been buoyant since last week, when it said it had received an overdue settlement of payments from the Kurdistan Regional Government in Iraq.

Source: Reuters

Money Markets Videos »

شاهد الفيديو

UFXMarkets *Daily Forex Currency Trading News* 13-June-2012

شاهد الفيديو

Global Economy `Modestly' Improving; Oil Price; Fed

شاهد الفيديو

Marketfield's Aronstein on Stock Market Strategy

شاهد الفيديو

UFXMarkets *Daily Forex Currency Trading News* 6-June-2012