05292016Sun
Last update: Sun, 29 May 2016 03am

Middle East & Africa

Markets - Equity - Middle East & Africa

Gulf markets mixed, Dubai bounces from support DUBAI: Gulf stock markets were mixed in quiet, early trade on Wednesday though Dubai's index bounced from technical support.Dubai climbed 0.8 percent to 3,302 points in the first 45 minutes. The index reached a mid-March low of 3,253 points.GFH Financial, the most heavily traded stock, rose 2.9 percent after saying it had signed a 100 million pound ($144 million) deal to become an anchor partner in a central London property development. It said this would reflect positively on its financial results in the first or second quarters of this year, but did not elaborate.Abu Dhabi's index was flat but Aldar Properties , the most active stock, added 1.5 percent.Qatar dropped 0.4 percent as Gulf Warehousing retreated 3.1 percent, after soaring last week when the Qatar Central Securities Depository said it had raised the maximum foreign ownership percentage in its shares to 49 percent of capital.But Qatari Investors Group climbed 1.1 ...

Markets - Equity - Middle East & Africa

TSX rises as gold mining stocks rally on cautious Fed TORONTO: Canada's main stock index rose on Tuesday, reversing earlier losses as cautious comments from Federal Reserve Chair Janet Yellen helped support gold mining stocks.The Toronto Stock Exchange's S&P/TSX composite index unofficially closed up 36.04 points, or 0.27 percent, at 13,426.23. Six of the index's 10 main groups were higher.Copyright Reuters, 2016 ...

Markets - Equity - Middle East & Africa

Saudi falls after weak data, most bourses rise DUBAI: Saudi Arabia's stock market fell sharply on Tuesday as petrochemical stocks sagged and the central bank reported weak economic data, but most major markets in the region gained. The Saudi index fell 1.5 percent to 6,177 points, closing below its mid-March low of 6,202 points, which suggested an uptrend since mid-February may have ended. Trading turnover shrank, a sign that investors were pulling out of the market. Petrochemical heavyweight Saudi Basic Industries tumbled 3.0 ...

Markets - Equity - Middle East & Africa

Egypt shares rise, Saudi edges down on petrochemicals DUBAI: Egypt's stock market rose broadly in early trade on Tuesday while Saudi Arabia was pulled down by petrochemical shares after Brent crude oil fell back below $40 a barrel.The Egyptian index climbed 0.9 percent in the first half-hour with nine of the 10 most heavily traded stocks rising. There was no significant reaction to the hijacking of an EgyptAir plane to Cyprus.The most heavily traded stock, Egyptian billionaire Naguib Sawiris's Orascom Telecom Media, added ...

Markets - Equity - Middle East & Africa

Markets narrowly mixed, Dubai holds chart support DUBAI: Middle East stock markets were mostly mixed in narrow ranges and moderate trading volumes on Monday, as Dubai tested and held technical support and petrochemical shares supported Saudi Arabia.The Dubai index closed 0.4 percent lower at 3,266 points, off a low of 3,248 points. It has chart support on its mid-March low of 3,253 points and any break would trigger a minor double top formed by the March peaks and indicating a fresh leg ...

Markets - Equity - Middle East & Africa

Petchems lift Saudi, Orascom Telecom pulls down Egypt DUBAI: Strong petrochemical shares lifted Saudi Arabia's stock market in early trade on Monday, while Orascom Telecom Media pulled Egypt lower again because of concern about its deal to acquire CI Capital.Saudi Basic Industries climbed 2.3 percent, helping the Saudi index rise 0.9 percent. Saudi Telecom rebounded 2.4 percent after sliding for several days in response to regulators cutting regional roaming fees in the Gulf.Egypt's index fell 0.6 percent as Egyptian billionaire Naguib Sawiris's Orascom ...

Markets - Equity - Middle East & Africa

Gulf markets mixed, Dubai's Shuaa loses steam DUBAI: Stock markets in the Gulf were mixed in early trade on Sunday with most shares moving little, as Dubai's Shuaa Capital lost steam after soaring last week.Shuaa rose more than 7 percent in the opening minutes of trade on Sunday but after 75 minutes was flat. On Thursday the stock, which has rebounded from a record low hit earlier this year, soared the 15 percent daily limit in its heaviest trading volume since at ...