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Middle East & Africa


South African stocks falter as valuation worries weigh JOHANNESBURG: South African stocks fell on Monday as investors dumped index heavyweights such as Barclays Africa and Shoprite on concerns about valuations.Shares of retailer Woolworths tumbled 7.7 percent to 74.78 rand as it traded both ex-dividend - without the right to its latest dividend payment - and ahead of the listing of new shares from a recent rights offer.Many investors are betting South Africa is likely to see little gains in the remainder of the year, citing inflated valuations. Johannesburg is currently at a price-to-earnings ratio of more than 18, making it the fifth-most expensive market among more than 30 emerging market equity indices."The market is going to need to generate very strong earnings to justify current pricing. Most importantly, any disappointments could have a significantly negative effect on share prices," said Nic Norman-Smith, chief investment officer of Lentus Asset Management.He added that, on a price-to-book basis, the Johannesburg bourse ...

Dubai stocks pulls back further; Ezz Steel climbs in Egypt DUBAI: Dubai's bourse continued to slide in early trade on Monday after its main index failed to break through chart resistance and investors started preparing for the initial public offer of shares in Emaar Properties' mall unit.The Dubai index fell 0.7 percent and hovered around the psychologically important 5,000 point mark as most stocks were in the red.Prompting some investors to cash out, Emaar, Dubai's largest listed developer, said on Sunday that subscriptions for the ...
Nigerian stocks up as investors buy into banks LAGOS: Nigerian stocks ended in the black on Friday led by banking shares after news that two foreign investors had bought significant stakes in Ecobank and Union Bank, helping reverse earlier losses recorded this week. London-listed Atlas Mara, the African investment vehicle of former Barclays boss Bob Diamond, on Friday increased its stake in Union Bank to almost 30 percent with a $270 million investment, boosting sentiment on the Nigerian bourse. Sub-Saharan Africa's second-biggest index ...
Egypt, Qatar hit new highs, UAE markets retreat DUBAI: Egypt's bourse hit a fresh six-year closing high on the back of Telecom Egypt on Thursday, while Qatar National Bank lifted the Doha bourse to a new all-time high. Markets in the United Arab Emirates pulled back.The Cairo index rose 0.2 percent to 9,650 points as fixed-line monopoly Telecom Egypt surged 5.8 percent after the government approved a long-awaited plan to issue a unified landline and mobile telecommunications licence.The new licence could allow Telecom ...
Telecom Egypt jumps on new licence; banks lift Qatar DUBAI: Shares in fixed-line monopoly Telecom Egypt rose in early trade on Thursday after the country's government approved on Wednesday a long-awaited plan to issue a unified landline and mobile telecommunications licence. The stock jumped 3.0 percent shortly after opening, offsetting pull-backs by other blue chips such as Commercial International Bank, which slid 0.8 percent. The main Egyptian index was nearly flat as a result.The new licence could allow Telecom Egypt to start reclaiming its ...
UAE markets lead gains as Dubai's Emaar rebounds DUBAI: Bourses in the United Arab Emirates outperformed the region on Wednesday as Dubai developer Emaar Properties rebounded after profit-taking and Abu Dhabi's Waha Capital jumped after securing $575 million in fresh funding.Dubai's main index rose 1.1 percent to a three-month closing high of 5,172 points as shares in Emaar gained 2.2 percent. The stock had dropped 3.0 percent on Tuesday after surging 13.7 percent in the two previous sessions.Emaar, the emirate's largest listed developer, ...
Egypt rises on real estate; Saudi, Dubai pull back DUBAI: Egypt's bourse outperformed an otherwise sluggish region on Tuesday on the back of property firms and other blue chips, while banks dragged down Saudi Arabia after the kingdom's central bank tightened consumer lending regulations.The Cairo index rose 1.8 percent, its biggest gain in five weeks, after the country's central bank on Monday kept interest rates unchanged, as expected by the market, and said there was upside risk to the inflation outlook.At its previous meeting ...


Index Closing Chg%
Arrow DJIA 17,390.52 1.13
Arrow Nasdaq 4,630.74 1.41
Arrow S&P 2,018.05 1.17
Arrow FTSE 6,546.47 1.28
Arrow DAX 9,326.87 2.33
Arrow CAC-40 4,233.09 2.22
Arrow Nikkei 16,413.76 4.83
Arrow H.Seng 23,998.06 1.25
Arrow Sensex 27,865.83 1.90

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln