09262016Mon
Last update: Mon, 26 Sep 2016 08am

Middle East & Africa

Markets - Equity - Middle East & Africa

Gulf starts week on strong footing, Egypt slips back DUBAI: Strength in international equities markets at the end of last week helped lift share prices in the Gulf on Sunday with markets most exposed to foreign capital inflows outperforming, while Egypt slipped on profit-taking. Dubai's index climbed 1.1 percent.Four-fifths of the traded shares advanced, with companies which have not yet reported quarterly earnings attracting the most volume. Builder Arabtec climbed 3.4 percent and amusement park developer Dubai Parks and Resorts added 1.7 percent.Blue chips helped push Qatar's index up 1.0 percent with Vodafone Qatar advancing 2.4 percent. Pertrochemical conglomerate Industries Qatar, which reported strong earnings late last week, jumped 3.9 percent. Abu Dhabi's index edged up 0.4 percent as local traders bought small and mid-cap stocks. Insurer Methaq Takaful Insurance jumped 8.1 percent in heavy trade and Abu Dhabi National Energy rose 2.0 percent. In Saudi Arabia the equities index rose 0.7 percent as all 14 petrochemical stocks advanced; ...

Markets - Equity - Middle East & Africa

Gulf prices edge up with rise in overseas markets DUBAI: Strength in international equities markets at the end of last week helped lift share prices in the Gulf in early trade on Sunday.Dubai's index added 0.6 percent as mid-cap shares outperformed. Construction firm Arabtec, which has yet to publish its quarterly financial report, added 3.4 percent.Similarly, mid-cap shares helped push Abu Dhabi's index up 0.1 percent. RAK Properties was 1.7 percent higher.Qatar's main index climbed 0.2 percent in very thin volume with 10 of ...

Markets - Equity - Middle East & Africa

Egypt closes at one-year high on IMF hopes, Gulf sags DUBAI: Egypt's stock market closed at a one-year high on Wednesday on optimism among local investors that a loan deal with the International Monetary Fund would boost the economy, while weak oil prices and global bourses pushed Gulf bourses down further. Cairo's main index jumped 1.6 percent to a one-year high of 8,105 points in rising turnover, confirming a break above major technical resistance on the April peak of 7,994 points. Egypt said last week ...

Markets - Equity - Middle East & Africa

Weak oil and global bourses pull down Gulf; Egypt rises DUBAI: Weak oil prices and global equity markets pulled down stocks in the Gulf on Tuesday, with some Saudi Arabian petrochemical shares and banks falling sharply, but Egypt edged up on the back of its currency's firmness in the unofficial market.The Saudi index sank 1.2 percent as petrochemical giant Saudi Basic Industries fell 1.5 percent and Saudi British Bank lost 2.7 percent. But major retailer Jarir Marketing, which had dropped 18 percent from its June ...

Markets - Equity - Middle East & Africa

Gulf firms on positive Q2 results, Egypt weakens DUBAI: Gulf stock markets rose on Monday, supported by positive quarterly earnings from several major companies, while Egypt cooled for a second day as foreign traders exited positions. Dubai's index added 0.9 percent as Emaar Properties climbed 1.9 percent to 6.95 dirhams after reporting an 8 percent rise in second-quarter net profit to 1.27 billion dirhams ($346 million). That was ahead of the 1.06 billion dirhams forecast by SICO Bahrain and Thomson Reuters data shows ...

Markets - Equity - Middle East & Africa

Gulf bourses slip on weak oil, Egypt ends five-day rise DUBAI: Stock markets in the Gulf fell on Sunday, weighed down by weak oil prices and lacklustre second-quarter corporate results over the last few weeks, while Egypt's main index pulled back on profit-taking after a strong run.Riyadh's stock index declined 0.5 percent to a fresh 16-week closing low of 6,302 points as the petrochemical sector dropped 0.9 percent.The September Brent oil contract settled at $42.46 a barrel on Friday, down 0.6 percent on the day ...

Markets - Equity - Middle East & Africa

Gulf soft on oil, Q2 results DUBAI: Stock markets in the Gulf were soft in early trade on Sunday, weighed down by weak oil prices and a lacklustre set of second-quarter corporate results.Riyadh's stock index lost 0.2 percent after 40 minutes of trade as the petrochemical sector dropped 0.4 percent. The September Brent oil contract settled at $42.46 a barrel on Friday, down 0.6 percent on the day and 14.5 percent lower on the month.Emaar the Economic City, builder of the ...