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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        

The Watch - forex news

Amwal Al Ghad English - 2017-10-03 06:34:57
Gold prices edged down to a 7-week low on Tuesday, as equities and the dollar were buoyed in Asian trade by upbeat economic data and strong U.S. treasury yields. Spot gold was down 0.1 percent at $1,269.20 an ounce by 0337 GMT, after earlier touching its lowest since mid-August at $1,267.76. U.S. gold futures for December delivery shed 0.3 percent to $1,272 an ounce. "Gold no doubt is struggling for the moment as at least three variables are arrayed against it, namely, a stronger dollar, a higher rate environment and possibly a reduction in tensions with North Korea if tentative contacts revealed over the weekend amount to something," INTL FCStone analyst Edward Meir said in a note. "We see gold possibly getting to a low of $1,245 before running into some credible support." The dollar on Tuesday rose versus the yen and climbed to its highest since mid-August against a basket of major currencies, extending gains from the previous session when it rose on higher U.S. Treasury yields and strong manufacturing data. More»
Amwal Al Ghad English - 2017-10-02 06:50:29
Gold slipped to its lowest in nearly seven weeks early on Monday as the U.S. dollar rose and equities gained, while growing expectations for a Federal Reserve interest rate hike in December also dragged on prices. Spot gold was down 0.2 percent at $1,276.47 an ounce by 0042 GMT, after earlier touching its lowest since mid-August at $1273.90. The metal recorded its biggest monthly decline so far this year in September. U.S. gold futures for December delivery shed 0.5 percent to $1,278.90 per ounce. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 percent. The dollar edged up 0.1 percent against a basket of major currencies and gained 0.2 percent versus the yen. U.S. President Donald Trump on Sunday dismissed the prospect of talks with North Korea as a waste of time a day after his own secretary of state said the United States was maintaining open lines of communication with North Korean leader Kim Jong Un. The United States said on Saturday it was directly communicating with North Korea on its nuclear and missile programmes but Pyongyang had shown no interest in dialogue. U.S. President Donald Trump is ramping up his search for a new chief for the U.S. central bank, promising a decision next month. Philadelphia Fed President Patrick Harker said Friday he still has "pencilled in" an interest rate hike in December, and three more rate hikes next year, in line with most of his colleagues at the central bank. U.S. consumer spending barely rose in August likely as Hurricane Harvey weighed on auto sales, while annual inflation increased at its slowest pace in nearly two years, pointing to a moderation in economic growth in the third quarter. Euro zone inflation undershot expectations in September, Eurostat data showed on Friday, highlighting that price growth remained week and supporting the European Central Bank's case for only gradual removal of stimulus. Britain's economy grew at its slowest pace since 2013 in the 12 months after last year's Brexit vote, data showed on Friday, painting a subdued picture as the Bank of England prepares to raise interest rates for the first time in a decade. More»
Amwal Al Ghad English - 2017-10-02 06:34:43
Oil prices edged lower on Monday in early Asian trading, pausing for breath after posting gains of as much as 20 percent in the third quarter, after a survey pointed to a slight increase in OPEC production in September. U.S. crude was down twocents at $51.65 a barrel at 0057 GMT. The U.S. benchmark on Friday posted its strongest quarterly gain since the second quarter of 2016 and the longest streak of weekly gains since January. Global benchmark, Brent crude for December delivery, was down 6 cents at $56.73 a barrel. On Friday, Brent for November delivery closed 13 cents higher at $57.54 a barrel, notching up a third-quarter gain of around 20 percent, the biggest gain in five quarters. It was the biggest third-quarter increase since 2004. The contract reached its highest in more than two years early last week, and posted its fifth consecutive weekly gain. It was Brent's longest weekly bull run since June 2016. The price gains have been supported by anticipated demand from U.S. refiners resuming operations after shutdowns due to Hurricane Harvey. But oil output from the Organisation of Petroleum Exporting Countries (OPEC) rose last month by 50,000 barrels per day (bpd), a Reuters survey found, as Iraqi exports increased and production edged higher in Libya, one of the producers exempt from a deal to curb output and support prices. Middle Eastern oil producers are concerned the recent price rise will only stir U.S. shale producers into more drilling and push prices lower again. U.S. energy companies added oil rigs for the first week in seven after a 14-month drilling recovery stalled in August, energy services firm Baker Hughes said on Friday. Drillers added six oil rigs in the week to September 29, bringing the total count up to 750. More»
Amwal Al Ghad English - 2017-10-02 06:30:27
Dollar prices started the month on a high note on Monday, gaining against the euro and other major counterparts as investors monitored an independence vote in Spain's Catalonia. The dollar index, which tracks the greenback against a basket of six major currencies, added 0.1 percent to 93.192. Liquidity was expected to be thin on Monday, with China, South Korea, HongKong and India markets closed for public holidays. The euro edged down 0.1 percent to $1.1796, as investors nervously watched the situation in Spain, where police used batons and rubber bullets to thwart the Catalan vote on Sunday in a show of force that left hundreds injured. The head of Catalonia's regional government opened the door to a potential declaration of independence from Spain. Against the yen, the dollar rose 0.2 percent to 112.71. Data released earlier on Monday showed Japan's big manufacturers were the most confident about the business outlook in a decade in the last quarter, a closely watched central bank survey showed on Monday, a sign the country's economic recovery may be gathering steam thanks to robust global demand. The figures could also help premier Shinzo Abe as he tries to convince voters in an October 22 election that his "Abenomics" stimulus policies have improved their livelihoods, analysts say. There are two main directional scenarios for the yen following the election, said Masafumi Yamamoto, chief forex strategist at Mizuho Securities. More»
Amwal Al Ghad English - 2017-09-30 07:37:48
Gold prices edged lower on Friday as slightly weaker U.S. inflation and consumer spending data did little to dampen expectations of an interest rate hike in December. Spot gold was down 0.23 percent at $1,283.96 per ounce by 1:30 p.m. ET while U.S. gold futures fell 0.16 percent to $1,286.60 per ounce. Spot gold was on track to register a 2.8 percent decline in September, its largest monthly fall so far in 2017 and the biggest since November 2016, after the dollar strengthened. However, it was set to end the quarter 3.5 percent higher as it rallied in July and August, partly due to geopolitical tensions including North Korea's missile tests. U.S. data showed inflation remained benign in August with the core personal consumption expenditures (PCE) price index rising 1.3 percent year-on-year, after advancing 1.4 percent in July. The core PCE is the Federal Reserve's preferred inflation measure and has a 2 percent target. Gold is highly sensitive to rising U.S. interest rates, which increase the opportunity cost of holding non-yielding bullion, while boosting the greenback. More»
Amwal Al Ghad English - 2017-09-30 07:32:58
Oil prices traded roughly flat on Friday on weekend profit taking following a rally in prices around geopolitical instability in Iraqi Kurdistan. Threats to the region's oil supplies helped Brent make its strongest third-quarter performance since 2004. Brent was up 4 cents to $57.45 a barrel by 2:16 p.m. (1816 GMT) , heading for a fifth weekly climb and a nearly 10 percent gain for September. The contract had reached its highest in more than two years earlier in the week, resulting in a fifth consecutive weekly gain. This performance is Brent's longest weekly bull run since June 2016. U.S. crude ended Friday's session up 11 cents at $51.67 a barrel. The contract posted a fourth consecutively weekly gain and rose 12 percent in the third quarter. "We've seen a strong rally in the past month on the expectation that we are seeing strong demand," said Gene McGillian, manager of market research at Tradition Energy in Stamford, Connecticut, adding: "With the geopolitical risk in Kurdistan, Brent pushed to a two-year high. I think the market rally is looking to be a little overdone." More»
Amwal Al Ghad English - 2017-09-25 10:13:59
Oil prices were under pressure from a strong dollar, but kept most of their gains from the previous session as major producers meeting in Vienna said the market was well on its way towards rebalancing. The Organization of the Petroleum Exporting Countries, Russia and several other producers have cut production by about 1.8 million barrels per day since the start of 2017, helping lift oil prices by about 15 percent in the past three months. Kuwaiti Oil Minister Essam al-Marzouq, who chaired Friday's meeting of the Joint Ministerial Monitoring Committee, said output curbs were helping cut global crude inventories to their five-year average, OPEC's stated target. London Brent crude for November delivery was down 4 cents at $56.82 a barrel by 0614 GMT, near the highest since March. U.S. crude for November delivery was down 10 cents at $50.56, but not far off recent four-month highs. The dollar index was up 0.1 percent against a basket of currencies. The euro slipped after Germany's election showed surging support for a far-right party that left Chancellor Angela Merkel scrambling to form a governing coalition. Russia's energy minister said no decision on extending output curbs beyond the end of Marchwas expected before January, although other ministers suggested such a decision could be taken before the end of this year. The UAE's energy minister said on Monday its compliance to supply cuts was 100 percent, while Libya's production stands around 900,000 bpd, down from about 1 million bpd in recent months, a Libyan source said. Elsewhere, Nigeria is pumping below its agreed output cap, its oil minister said. "Oil is relatively underpriced compared with other markets, but any steep rise would be offset by rising shale oil production," said Tomomichi Akuta, senior economist at Mitsubishi UFJ Research and Consulting in Tokyo. Production curbs have faced rising U.S. shale oil output. U.S. energy firms cut the number of oil rigs operating for a third week as a 14-month drilling recovery stalled. Markets were also eyeing developments in North Korea. U.S. Treasury Secretary Steve Mnuchin on Sunday said President Donald Trump wants to avoid nuclear war with North Korea and "will do everything we can" to avoid conflict. The WTI crude front month discount to the same month of Brent futures hit $6.28, the widest since August 2015, as U.S. crude was pressured by hurricane damage to U.S. refineries. More»
Amwal Al Ghad English - 2017-09-23 11:01:23
Gold Friday recovered from a four-week low as investors sought a safe haven from geopolitical uncertainty caused by growing tensions between North Korea and the United States. Bullion is often used as a refuge in times of political or economic turbulence while assets considered risky, such as stocks, are dumped. North Korea said on Friday it might test a hydrogen bomb in the Pacific Ocean after U.S. President Donald Trump vowed to destroy the country, with leader Kim Jong Un promising to make a "mentally deranged" Trump pay dearly for his threats. "Gold took quite a beating after the U.S. Federal Reserve meeting but now the market got the news about North Korea and now investors are moving back in gold," Danske Bank analyst Jens Pedersen said. Earlier this week the U.S. Fed signaled that it was still on track to raise interest rates by the end of the year. This weighed on gold as tighter monetary policy raises the opportunity cost of holding non-yielding bullion. Spot gold was up 0.48 percent at $1,297.1801 an ounce having hit a four-week low of $1,287.61 in the previous session. Bullion was down 1.7 percent for the week and was headed for a second weekly decline. U.S. gold futures climbed 0.42 percent to $1,300.20 an ounce. The dollar and stocks fell on Friday against the backdrop of these tensions while the Japanese yen and Swiss franc gained on the possibility of North Korea conducting another nuclear test. However, the U.S. Federal Reserve's indication on Wednesday of one more rate increase by the end of the year could continue to restrain gold, a trader said. The dollar had risen to a two-month peak following the Fed comments. Spot gold may end its current weak bounce around a resistance at $1,299 per ounce and then fall towards a support at $1,281, said Reuters technicals analyst Wang Tao. "For gold it will continue to be back and forth, one day its about Fed tightening and balance sheet reduction and the next it's about the geopolitical uncertainty that creates this tug of war," Danske Bank's Pedersen said. Silver rose 0.06 percent to $16.96 an ounce, while platinum was down 0.43 percent to $931.50. Both metals were, however, set for a second weekly decline. Palladium rose 0.22 percent to $912.50 an ounce and was set for a third straight weekly loss. More»
Amwal Al Ghad English - 2017-09-23 10:49:15
Oil prices climbed on Friday, hovering close to their highest levels in months, as major producers may wait until January before deciding whether to extend their output curbs beyond the first quarter. Russia's energy minister said no decision was expected before January, although other ministers suggested such a decision could be taken before the end of this year. "I believe that January is the earliest date when we can actually, credibly speak about the state of the market," Russian Energy Minister Alexander Novak said. Other ministers suggested a decision could come this year. U.S. West Texas Intermediate (WTI) crude futures ended Friday's session 11 cents higher at $50.66 per barrel, the highest settle since May 24. The contract was up about 1.5 percent on the week, marking the third straight weekly gain. International benchmark Brent crude futures rose 38 cents to $56.81 a barrel at by 2:18 p.m. ET (1818 GMT). The contract earlier hit $56.87, the highest intraday level since March 1. Prices were little changed after Baker Hughes reported that oil rigs operating in U.S. fields fell by 5 to a total of 744. Oil prices have gained more than 15 percent in the last three months, suggesting output cuts of 1.8 million barrels per day by OPEC and other producers have helped clear the global crude glut. Rising global demand has also brought more balance to the market. "It wasn't a strong surprise to see that they deferred that decision," said Tony Headrick, energy market analyst at CHS Hedging LLC in Inver Grove Heights, Minnesota. "Regardless of the OPEC meeting's outcome, signs are that the market is moving toward balance." He pointed to strong demand for distillates, especially European gas oil. This, he said, "is supporting Brent and in turn is supporting U.S. products and WTI as well." Kuwaiti Oil Minister Essam al-Marzouq, who chaired the meeting in Vienna, said the market "is evidently well on its way towards rebalancing." Despite their concerted efforts — the oil cartel extended their supply cuts until the end of March — prices have remained depressed amid increasing U.S. oil production. The Energy Information Administration (EIA) reported on Wednesday that U.S. crude production reached 9.51 million bpd in the week ended Sept.15, up from 8.78 million bpd a week ago. Hurricanes in the Gulf of Mexico have also pushed up crude oil stocks as some U.S. refineries have been shut by flooding. Commerzbank said in a note that oil prices were also finding support from the impending tensions around the independence referendum that will be held on Monday in Iraq's semi-autonomous Kurdish region. More»
Amwal Al Ghad English - 2017-09-21 07:11:18
Gold prices dropped to its lowest level over three weeks on Thursday as a stronger dollar and increasing prospects of a December rate hike by the Federal Reserve curbed appetite for the metal. Spot gold was down 0.1 percent at $1,299.31 an ounce at 0326 GMT, after earlier touching its lowest since late August at $1295.65. U.S. gold futures for December delivery fell by one percent to $1,302.60 an ounce. The U.S. dollar rose and bond yields jumped to their highest levels in six weeks after the Federal Reserve announced a plan to start shrinking its balance sheet in October and signaled one more rate hike later this year. More»