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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        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Orascom Telecom Holding (OT)   3.92        Rakta Paper Manufacturing   4.39        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        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        Northern Upper Egypt Developme   4.93        Egyptian for Tourism Resorts   0.69        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Heliopolis Housing   21.65        United Housing & Development   8.93        Raya Holding For Technology An   4.57        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        National Development Bank   6.72        Six of October Development & I   15.03        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        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        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        


The Watch - Indices news

Amwal Al Ghad English - 2015-03-14 09:47:18
The euro lost more than 3% of its value against the buck for the second straight week Friday, as the dollar’s eight-month rally resumed. Traders ignored a slate of weak economic data out of the U.S. That includes a report from the Commerce Department which showed that retail sales fell for the third-straight month — a sign that optimism over the Federal Reserve’s two-day monetary policy meeting, set to begin Tuesday, has reached a fever pitch, said Matt Weller, senior technical analyst at Forex.com. Specifically, traders expect the Fed to remove phrasing from its monetary policy statement saying it can be “patient” before raising the Fed funds rate, its benchmark interest rate, for the first time since 2006. The market would interpret such a move as a sign that the Fed could raise rates as early as its June monetary policy meeting. The euro EURUSD, -1.32% traded as low as $1.0465, its weakest level since January 2003, while the pound GBPUSD, -0.94% traded as low as $1.4700, its lowest level since June 2010, before both currencies staged a slight recovery. The euro traded at $1.0634 late Thursday, while the pound traded at $1.4849. Goldman Sach’s Chief Forex Strategist Robin Brooks slashed his forecast for the shared currency, saying he expects it to hit parity with the dollar in September. The shared currency’s losses pushed the ICE U.S. Dollar Index to close above the 100-level for the first time since March 2003. The dollar’s relative value against the euro comprises more than half of the index’s value. The ICE U.S. Dollar Index DXY, +0.91% a measure of the dollar’s strength against a basket of six currencies, was up 0.76% to 100.1900 in recent trade. In other currencies, Jameel Ahmad, chief market analyst at FXTM, said that the pace of the pound’s losses over the past three weeks has taken traders by surprise. he attributed its decline primarily to investors’ worries over the outcome of the coming U.K. general election in May. “There was so much volatility when the Scottish referendum happened a few months ago, investors are being tentative toward the pound and closing out their positions. They don’t want to see the volatility we saw in the week leading up to the vote,” Ahmad said. The pound dropped from about $1.6600 to $1.6000 in the week leading up to the referendum, which was held on Sept. 18. Diverging monetary-policy trends between the U.S. and the rest of the global economy have been the biggest driver of the currency’s strength. Many central banks around the globe, most notably the European Central Bank and the Bank of Japan, have instituted sizable asset-purchasing programs to stimulate growth. The Fed ended its program of asset purchases in October, and the market widely expects it to begin raising interest rates some time this year. More»
Amwal Al Ghad English - 2015-03-14 09:29:56
The dollar surged on Friday as weak inflation data failed to stem expectations the Federal Reserve will move to tighten monetary policy, and the greenback's rise pressured stocks and commodities. The dollar index .DXY rose 0.8 percent, setting up its first close above 100 since April 2003. The Fed's policy-setting committee meets next week. Stocks fell on Wall Street on concerns of the impact of higher rates and a stronger dollar on corporate profits. The S&P 500 was down for a third straight week, though it is just 3 percent below its record high set early this month. "The stronger dollar, the continued hammering of the euro equals continued lower equity prices ahead of the Fed comments next week," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. "We'll know more of the Fed's thinking on Wednesday but right now most people are expecting a rate hike to come in June and the equity markets not to be very receptive of that." More»
Amwal Al Ghad English - 2015-03-14 09:27:36
Global oil prices tumbled on Friday and fell 9 percent on the week, hit by a renewed rally in the dollar and a warning by the International Energy Agency (IEA) that the oil glut is growing. Data that showed a sharp drop in the number of U.S. rigs drilling for oil failed to inspire market bulls. Benchmark Brent oil settled near a one-month low below $55 a barrel and U.S. crude settled near a 2-1/2 month low under $45. The dollar hit a 12-year high in its march toward parity with the euro, jacking up the cost of oil and other dollar-denominated commodities for holders of other currencies. The 19-commodity Thomson Reuters/Core Commodity CRB Index .TRJCRB fell a six-year low. "We aim to break the year's low in crude next week," said Tariq Zahir, an oil bear at Tyche Capital Advisors in Laurel Hollow, New York. Brent fell to $45.19 in January, while U.S. crude dropped to $43.48. Oil began the day lower after the IEA, which advises industrialized countries on energy, warned the global glut was building and the United States may soon run out of tanks to store crude. "U.S. supply so far shows precious little sign of slowing down," the IEA said. "Quite to the contrary, it continues to defy expectations." More»
Amwal Al Ghad English - 2015-03-09 07:26:25
Brent crude fell toward $59 a barrel on Monday as a promising U.S. jobs report pushed the dollar up, offsetting geopolitical tensions and the threat of output cuts in Libya and Iraq. The dollar hit a more than 11-year high against a basket of currencies after data showed the U.S. unemployment rate fell to the lowest since May 2008 in February, making commodities priced in the greenback costlier for holders of other currencies Brent LCOc1 eased 43 cents to $59.30 by 0445 GMT, after dropping 75 cents in the previous session. It fell 4.6 percent last week in its biggest decline since the week ended Jan. 9. U.S. crude CLc1 was down 27 cents at $49.34. It closed down $1.15 on Friday to complete a third week of declines. Goldman Sachs (GS.N) said in a note that oil prices would reverse recent gains on rising global inventories, with U.S. crude expected to drop to around $40 a barrel. Oil prices rose by almost a third between January and February on the back of Middle East supply disruptions, strong winter demand and high refinery margins. But the focus is now on the dollar, analysts said. "The U.S. dollar is continuing to strengthen. In the short-term it's more about the dollar than anything else," said Ben LeBrun, market analyst at Sydney's OptionsXpress. U.S. economic data to be released on Tuesday could lead to a further strengthening of the U.S. dollar which would be negative for commodities including oil, said LeBrun. He said geopolitical issues in North Africa and the Middle East "are all playing second fiddle to the U.S. dollar". Goldman said in its note that "absent further unexpected OPEC disruptions, we expect Brent oil prices and timespreads to reverse their recent strength". Members of the Organisation of the Petroleum Exporting Countries (OPEC) should not cut output to "subsidize" higher-cost shale, OPEC Secretary-General Abdullah al-Badri has said. In Libya, up to 10 foreign workers are missing in the latest attack on the country's oil fields by Islamist militants and there is a possibility they have been taken hostage, Czech and Libyan officials said on Saturday. Brent should trade within a range of $55.36-$63.04 this week, said Singapore's Phillip Futures in a note on Monday. U.S. crude should trade between $48.45-$55.02 although prices could move sharply upwards if the U.S. refinery strikes end this week, Phillip Futures said. More»
Amwal Al Ghad English - 2015-02-14 07:40:12
Oil closed up for a second straight week on Friday after another drop in the U.S. rig count, and Brent crude hit a 2015 high above $60 a barrel, but market skeptics cautioned the rally could fade because supplies keep coming. Many traders and analysts believe there is a global oversupply of nearly two million barrels per day of crude oil.They say little has changed fundamentally to explain the price rebound of the past two weeks. The number of oil drilling rigs in the United States fell this week to its lowest since August 2011, data showed on Friday. But the market's reaction was relatively tepid compared with the past two weeks when prices spiked on declining rig counts. "I think people are starting to understand to a certain point that, even if rig counts go down, it's not going to affect production in the short term. It's going to take a few months for that to happen," said Tariq Zahir, managing member at Tyche Capital Advisors in Laurel Hollow in New York. U.S. crude inventories have swelled to record highs of nearly 418 million barrels, government data showed last week. More»
Amwal Al Ghad English - 2015-02-09 08:00:56
Oil prices steadied on Monday as falling U.S. oil rig counts and signs of strong U.S. economic growth were balanced by a slump in Chinese imports, pointing to lower fuel demand in the world biggest energy consumer. Global benchmark Brent crude oil for March was up 30 cents at $58.10 a barrel by 0420 GMT (11.20 p.m. EST Sunday) after rising as high as $59.06 earlier in the session. U.S. crude was up 60 cents at $52.29 a barrel, having hit a session high of $53.40. Brent rose more than 9 percent last week, its biggest weekly rise since February 2011. The North Sea oil futures contract has climbed more than 18 percent in the past two weeks, its strongest showing since 1998. The move ended a six-month slide that saw oil prices lose more than half their value. The number of rigs drilling for oil in the United States fell by 83 this week to 1,140 - the lowest since December 2011 - a survey showed on Friday, a clear sign of the pressure that tumbling crude prices have put on oil producers. Stronger-than-expected growth in U.S. jobs in January also helped support oil, as non-farm payrolls increased 257,000, outstripping Wall Street forecasts. But data showed further economic weakness in China, the world's No. 2 oil consumer, helping cap oil gains. More»
Amwal Al Ghad English - 2015-02-09 07:59:34
The dollar dipped on Monday as traders sold into a rally triggered by robust U.S. jobs data, while the Greek debt situation crept back into focus as Athens reaffirmed its rejection of an international bailout program. The dollar index, an indication of its performance against a basket of key currencies, slipped 0.2 percent to 94.535. The euro edged up 0.2 percent to $1.1338, having lost about 1.5 percent on Friday when strong U.S. employment figures helped rekindle views that the Federal Reserve will hike interest rates as early as June. Friday's data showed a rebound in U.S. wages and nonfarm payrolls increasing by 257,000 in January, outstripping Wall Street forecasts. The dollar was down 0.3 percent at 118.75 yen after scaling a one-month high of 119.23 after the jobs data. "Dollar/yen was confined in range for a while before the U.S. payrolls, so profit taking is being triggered with the pair now having broken out of that range," said a trader at a Japanese bank. More»
Amwal Al Ghad English - 2015-02-08 08:08:01
U.S. investors spooked by wild swings in the foreign exchange market are piling into exchange-traded funds that strip out the local currency on their international equity portfolios, making them one of the most sought-after financial products in 2015. With the dollar having rallied more than 19 percent since the beginning of 2014, investors are seeing gains in overseas stock markets eaten up by losses against the greenback. "People are voting with their feet," said Luciano Siracusano, chief investment strategist for WisdomTree Investments in New York. "They're putting billions of dollars into these funds, and what they're saying is, 'We don't want to be 100 percent unhedged.'" Some say there aren't enough of these products for investors looking for international exposure. These ETFs have about $31.5 billion in assets, up nearly five-fold from 2011. But assets in international equity ETFs exceed $275 billion, according to WisdomTree. "There are 40 countries with stock markets deep enough to have a currency-hedged product," said David Kotok, chairman and chief investment officer of Cumberland Advisors in Sarasota, Florida, which oversees $2 billion, and whose firm's equity investments are solely through ETFs. "If you look at the ETF offerings, you have hundreds available to craft a U.S.-centric portfolio. But how many do you have in the euro zone? You have maybe a dozen ETFs for China. You have the world's second largest economy and you only have a dozen?" WisdomTree, with ETF assets of about $44 billion, is the leader in the currency-hedged space with 80 percent of the market. The other two major players are Deutsche Bank, with $5.2 billion in currency-hedged assets, and BlackRock Inc., overseeing about $1 billion in hedged ETFs. All three are planning to expand their currency-hedged offerings, officials at the firms said. Guggenheim Investments, which has its own suite of currency ETFs with $1.1 billion in assets, also plans to launch currency-hedged ETFs, officials there told Reuters. The company has $28.8 billion in ETF assets. CURRENCY SWINGS Rising forex-market volatility has spurred demand for currency-hedged ETFs. The Federal Reserve has ended its money-printing program, while the European Central Bank and Bank of Japan are both in the midst of easing plans. The dollar, as a result, last year hit its highest level against the euro since 2003 and hit a seven-year high against the yen. A strong dollar reduces returns on these portfolios when converted into the U.S. currency. It's a trend that Dodd Kittsley, head of ETF strategy and national accounts at Deutsche Bank Asset and Wealth Management in New York, expects to continue for several years. In the strong dollar environment, hedged ETFs have so far been outperforming their unhedged counterparts. WisdomTree Europe Hedged Equity Fund is up 8.4 percent year-to-date, while its unhedged peers, the iShares Europe ETF and the Vanguard FTSE Europe ETF, were up just 0.5 percent this year, Morningstar data show. The HEDJ ETF has so far garnered $3.1 billion in inflows in 2015, about half of the $5.9 billion into currency-hedged ETFs in January, according to ETF.com. Last year, the fund posted a return of 6.6 percent, while the unhedged iShares ETF and Vanguard ETF lost 6 percent and 6.6 percent, respectively. IS IT WORTH IT? But hedging comes at a price, and depending on a country's interest rates, the cost can outweigh the benefit, said Brendan Ahern, chief investment officer at New York-based asset manager KraneShares. Last year, the firm launched a China commercial paper ETF and filed for the fund's hedged version. Currency exposure is typically hedged by buying forward contracts and rolling them over monthly. The cost of hedging takes into account the difference between one-month interest rates in the United States and the target market. If U.S. rates are higher, the cost of hedging becomes negative, meaning investors are being paid the difference in rates. If the target market's rates are higher, then the cost to hedge goes up as well. So in countries with high interest rates such as Mexico, India and Brazil, hedging costs are higher than those for low-interest rate countries such as the euro zone, Japan and the United Kingdom. The latest WisdomTree data showed that it cost almost nothing to hedge exposure to the Swiss franc, yen and euro, while it costs about 30 basis points to hedge British pound exposure, which is still relatively low cost. Aside from the higher cost of hedging in high-interest rate countries, currency-hedged ETFs tend to be have steeper expense ratios, with an average of 0.54 percent, compared to 0.12 percent for the Vanguard FTSE Europe ETF and 0.14 percent for the iShares Core MSCI Europe ETF, both large international equity ETFs. There is also the opportunity cost of potentially giving up the added return should the foreign currency suddenly appreciate. Bill Belden, Guggenheim's managing director of product development in Chicago, acknowledged that a currency reversal is a notable risk. "But I don't think people should invest or make decisions based solely on the currency," he said. "Investors should go where the opportunity is. Obviously, the currency is a big part of it, but it cannot be considered exclusively over and above the underlying portfolio." More»
Amwal Al Ghad English - 2015-02-08 08:06:04
Oil’s dramatic price fall since mid-2014 cannot be explained by changes in production and consumption alone, with hedging and energy firms' high debt levels also playing a part, the Bank for International Settlements (BIS) said on Saturday. The BIS compared oil's recent fall, which saw prices collapse to below $50 a barrel from levels of above $100, with declines in 1996 and 2006 and concluded that unlike on previous occasions, this time oil production has been close to expectations and consumption was only slightly below forecasts. “The steepness of the price decline and very large day-to-day price changes are reminiscent of a financial asset,” said the organization, representing central banks around the world. While the recent OPEC decision not to cut production “has been key to the fall”, other factors could have exacerbated it, the BIS said. These included increased indebtedness in the oil sector in recent years. The Basel-based organization said this greater debt burden may have had an influence on the oil market itself. “Against this background of high debt, a fall in the price of oil weakens the balance sheets of producers and tightens credit conditions, potentially exacerbating the price drop as a result of sales of oil assets,” it said. More»
Amwal Al Ghad English - 2015-02-05 07:48:03
Oil prices fell more than $1 on Thursday, extending big losses in the previous session as record high inventories in the United States coupled with concerns over global demand had cut short a four-day rally. Oil markets remain highly volatile, with U.S. crude losing 9 percent on Wednesday in one of its biggest routs. In the previous four sessions, prices had rallied almost 19 percent from their lowest in nearly six years. Brent crude for March delivery had dropped $1.02 to $53.14 a barrel by 0633 GMT (1.33 a.m. EST), after touching $55 a barrel earlier in the day. The contract had settled $3.21 or 5.5 percent lower the previous day. U.S. crude traded 97 cents lower at $47.48 a barrel. The contract climbed above $49 a barrel earlier, after slumping on Wednesday on the large build-up in U.S. inventories. U.S. crude stocks increased by 6.3 million barrels last week, rising for the fourth consecutive week to hit a record high of 413.06 million barrels, data from the Energy Information Administration showed. More»