Middle East & Africa
Tuesday, 27 September 2011 13:48
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JOHANNESBURG: Shares of Rare Holdings dive nearly 20 percent as the South African construction materials supplier says its full-year headline loss likely widened to as much as 60.9 cents per share from 32.11 cents a year earlier.
Rare, which released the profit warning shortly after the market closed on Monday, is down 19.05 percent at 17 cents.
Copyright Reuters, 2011 ...
JOHANNESBURG: South African stock futures fell two percent in early trade on Monday, pointing to a softer open for the local market after Asian shares slumped on renewed concerns about Europe's debt crisis.
The All-share index futures expiring in December were down 2 percent at 0642 GMT.
Copyright Reuters, 2011 ...
DUBAI: Egypt's bourse slumped to a 30-month low on Sunday, leading a regional decline, with pressured world stocks dampening sentiment and a sharp decline in oil prices threatening local fundamentals.
Egypt's main index fell 2.4 percent to its lowest close since March 2009, with investors wary of the uncertain political outlook in the North African country and discouraged by last week's fall in global markets.
U.S equities recorded their worst weekly loss on Friday since the 2008 ...
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DUBAI: Qatar's bullish economic outlook helped lift its bourse to a two-week high on Sunday, while Egypt's Ezz Steel slumped to a 30-month low after saying its former chairman's jail sentence would impact future investments.
"Qatar will likely continue to outperform the region it is one of the fastest growing economies in the world and has a lot of liquidity in the system," said Shahid Hameed, Global Investment House head of asset management for the Gulf ...
CAIRO: Ezz Steel, whose shares tumbled last week after a court jailed its former chairman and ordered two licences be withdrawn, fell 10 percent after the firm issued a statement about the ruling's impact on the Egyptian firm.
The shares were suspended after the fall of 10 percent, according to stock market rules.
In a statement made earlier on Sunday, Ezz Steel said it was considering legal options to confront any impact from the ruling. It also ...
JOHANNESBURG: South Africa's Sasol Ltd, the world's top maker of motor fuel from coal, defied a stronger rand to post a 27 percent rise in full-year earnings on Monday, helped by cost cuts and higher commodity prices.
The petrochemical manufacturer said it expects a better operational performance in the 2012 financial year, even as it struggles with the strong local currency.
"The rand certainly remains a challenge going forward," Chief Financial Officer Christine Ramon said, adding that ...
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