Just in:  

You are here: Home»Markets»Equity»Middle East & Africa

Middle East & Africa


South Africa stocks slide, but retailers advance JOHANNESBURG: South African stocks ended lower on Thursday as a rise in retailers such as Shoprite failed to offset a slide in gold mining houses, which were hit by lower metal prices.Retailers in Africa's most advanced economy were helped, in part, by a central bank decision that signalled rate hikes were unlikely in the near term.The reserve bank left its benchmark rate 5.75 percent on Thursday, in line with expectations. Critically, central bank Governor Lesetja Kganyago said a lower inflation outlook would give the bank room to pause in its tightening cycle."Policymakers in South Africa kept interest rates on hold today, but struck a significantly less hawkish tone in the accompanying statement," Capital Economics said in a note to clients."Accordingly, we no longer expect rates to be raised this year, and expect only modest hikes in 2016."Investors saw that as good news for retailers, as higher interest rates eat into ...

Most markets pull back on weak Q4 results, dividends DUBAI: Saudi Arabia's stock market pulled back on Thursday after gaining strongly earlier in the week, while disappointing dividends and earnings weighed on other Gulf markets.The main Saudi stock index edged down 0.4 percent as some of the stocks which had driven its rally in the last few days retreated. Petrochemicals major Saudi Basic Industries dropped 2.6 percent and Samba Financial Group lost 1.0 percent.Telecommunications operator Zain Saudi dropped 3.4 percent after its Kuwaiti parent ...
Abu Dhabi, Oman edge up, supported by banks DUBAI: Bourses in Abu Dhabi and Oman edged up in early trade on Thursday on the back of banking sector earnings and dividends, while other Gulf markets were weaker and news from the telecommunications sector was disappointing.Abu Dhabi's index rose 0.3 percent as shares in major lender First Gulf Bank jumped 2.3 percent. The bank posted on Wednesday a 13 percent rise in fourth-quarter net profit to 1.55 billion dirhams ($422 million); analysts polled by ...
Kenyan shilling opens weaker on importer dollar demand NAIROBI: The Kenyan shilling weakened on Thursday on dollar demand from importers but tight liquidity in the money markets was cushioning the shilling from falling further, traders said.At 0751 GMT, commercial banks quoted the shilling at 91.70/80 to the dollar, from Wednesday's close of 91.55/65."Today there's major (dollar) demand," Ian Kahangara, trader at National Bank of Kenya, said.Payments for Treasury bills and bonds last week caused a shortage of the local currency, supporting the shilling.A ...
Saudi Arabia pulls back but property firms strong DUBAI: Saudi Arabia's stock market edged down in early trade on Thursday after posting strong gains this week, while Egypt's bourse was almost flat.The main Saudi index fell 0.5 percent as many stocks which had led gains in the last few days pulled back. Petrochemicals major Saudi Basic Industries fell 2.0 percent and Samba Financial Group lost 1.7 percent.But others extended gains, such as property firm Dar Al Arkan, whose shares surged 7.9 percent to ...
Egypt allows pound to weaken to new low of 7.49 per dollar CAIRO: Egypt's pound weakened to 7.49 per dollar, from 7.46 at yesterday's sale, at a central bank auction on Thursday, the weakest level it has been allowed to reach since auctions began in December 2012.The bank offered 40 million dollars and sold 38.4 million at a cut-off price of 7.4901 pounds per dollar, the central bank said.The rates at which banks are allowed to trade dollars are determined by the results of central bank sales, ...
South African stocks rise, retailer Clicks touches all-time high JOHANNESBURG: South African stocks advanced for a third straight session on Wednesday, with health and beauty retailer Clicks Group hitting a record high powered by higher sales over Christmas.The Clicks Group, which includes Body Shop and music store Musica, said in a trading update that sales for the 20 weeks to January 2015 rose 14 percent to 8.2 billion rand ($713 million).Shares in Clicks closed 5.39 percent higher at 91.89 rand after earlier rising to ...


Index Closing Chg%
Arrow DJIA 17,164.95 1.45
Arrow Nasdaq 4,635.24 1.03
Arrow S&P 1,994.99 1.30
Arrow FTSE 6,749.40 0.90
Arrow DAX 10,694.32 0.41
Arrow CAC-40 4,604.25 0.59
Arrow Nikkei 17,674.39 0.39
Arrow H.Seng 24,507.05 0.36
Arrow Sensex 29,182.95 1.68

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln