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Middle East & Africa


South African stocks rise again, Lewis touches record high JOHANNESBURG: South African stocks rose for a second straight session on Monday as furniture retailer Lewis Group touched a record high after reporting higher revenue and gold producers climbed on the back of better prices. Lewis, a credit retailer servicing the lower end of the market, said its revenue and sales were boosted by acquisitions and upbeat festive season sales in the 9 months to September. Shares in Lewis rose 3.8 percent to 85.90 rand after hitting an all-time high of 89.90 rand in the session. "It's a good set of results in this particular industry. With the consumer being under pressure with high debt levels, it's a tough trading environment for credit retailers," said Abri du Plessis, an analyst at Gryphon Asset Management. The benchmark Top-40 index added 0.76 percent to 44,531, while the broader All-Share index gained 0.74 percent to 50,711. Gold Fields and Harmony Gold were among ...

Saudi Arabia jumps on bets that oil has bottomed out DUBAI: Saudi Arabia's petrochemicals sector surged on Tuesday after OPEC's secretary-general said oil prices might have bottomed out and warned of a jump to $200 a barrel if investment in new supplies became too low.Brent crude traded above $48 per barrel, also supported by a slightly weaker U.S. dollar.The main Saudi stock index jumped 2.4 percent in the heaviest trade this month, as shares in petrochemicals giant Saudi Basic Industries surged 6.4 percent to 84.00 ...
Egypt resumes rally; Saudi Arabia extends gains DUBAI: Egypt's stock market turned bullish again in early trade on Tuesday after a short bout of profit-taking, while Saudi Arabia's bourse edged up on the back of banking stocks.The Cairo benchmark rose 1.3 percent as most stocks were in the black. Property firm Medinet Nasr Housing and Development led gains, surging 5.1 percent as Egypt's central bank continued the gradual depreciation of the pound.The pound slipped to 7.43 per dollar from 7.39 at a ...
Saudi stock market to open to foreigners by mid-2015 RIYADH: Saudi Arabia is on track to open its stock market to foreign investors by the end of June, the market's chief regulator said on Monday.A final date will be announced after relevant regulations are issued but it "will be before the end of the first half of 2015," said Mohammed al-Shaikh, chairman of the Capital Market Authority.Penny-stock players, however, will not be welcome on the expanded Tadawul All-Shares Index, the largest Arab bourse."We really ...
Saudi Arabia rises after smooth royal succession DUBAI: Saudi Arabia's stock market rose on Monday as it traded for the first time since King Salman succeeded his brother Abdullah, who died on Friday. Other bourses in the region were neutral or negative.After swiftly assuming power, King Salman pledged continuity in energy and foreign policies and appointed younger men as his heirs, appearing to settle the succession issue for years to come.Investors reacted positively to the smooth succession and the kingdom's main index ...
South African stocks end higher, Naspers in demand JOHANNESBURG: South African stocks ended higher on Monday, shaking off worries about the outcome of Greece's election, with Naspers adding the most points to the index.Naspers, the bourse's biggest company by value, climbed 3.34 percent to a record 1,704 rand, after four straight sessions of declines.Overall, traders shrugged off concerns over the pledge by Syriza, the winning party in the Greek election, to confront the country's international lenders. They focused instead on the latest stimulus ...
Dubai extends losses as oil slides DUBAI: Dubai's stock index fell sharply late in the session on Monday after the price of oil slid below $48 per barrel and Greek election results put pressure on global equities.The benchmark tumbled 4.0 percent in a broad sell-off. Among the most traded stocks, Dubai Islamic Bank lost 5.6 percent and Emaar Properties was down 4.7 percent.Market players said oil's renewed weakness may have dampened retail investors' sentiment, even though Dubai's diversified economy is relatively ...


Index Closing Chg%
Arrow DJIA 18,132.70 0.45
Arrow Nasdaq 4,963.53 0.49
Arrow S&P 2,104.50 0.30
Arrow FTSE 6,946.66 0.04
Arrow DAX 11,401.66 0.66
Arrow CAC-40 4,951.48 0.83
Arrow Nikkei 18,797.94 0.06
Arrow H.Seng 24,823.29 0.32
Arrow Sensex 29,220.12 1.65

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln