Just in:  

You are here: Home»Markets»Equity»Middle East & Africa

Middle East & Africa


Saudi Arabia rallies on as oil pares losses DUBAI: Saudi Arabia's stock market gained strongly for a second straight day on Wednesday as oil prices rebounded from the day's lows, reinforcing a growing perception among investors that they have found a floor.Brent crude fell early on Tuesday after an industry report said U.S. crude stocks rose by the most in two decades last week. But it had largely recovered and traded above $49 per barrel by the time the Saudi bourse closed.The main Saudi stock index jumped 2.6 percent to 8,913 points and trading volume reached its highest level since last May. The index faces chart resistance at its late December peak of 8,949 points; any break would point up to at least resistance on the 100-day average, now at 9,477 points.Petrochemicals giant Saudi Basic Industries, the country's biggest listed firm, surged 5.1 percent while its subsidiary Yanbu National Petrochemical Co (Yansab) rose its daily 10 percent limit.Banks ...

Saudi Arabia extends gains, Egypt pulls back DUBAI: Saudi Arabia's stock market rose in early trade on Wednesday on the back of banks and petrochemicals, while Egypt's bourse retreated from a multi-year high.The main Saudi index added 1.5 percent as shares in Samba Financial Group surged 7.5 percent and were the main support. Two brokerages, EFG Hermes and Global, identified the stock this week as offering good value and being well positioned for the expected US interest rate increase.Petrochemicals giant Saudi Basic ...
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 ...
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 ...


Index Closing Chg%
Arrow DJIA 17,409.00 1.31
Arrow Nasdaq 4,683.41 0.98
Arrow S&P 2,017.30 0.95
Arrow FTSE 6,810.60 0.22
Arrow DAX 10,737.87 0.25
Arrow CAC-40 4,631.43 0.44
Arrow Nikkei 17,606.22 1.06
Arrow H.Seng 24,595.85 1.07
Arrow Sensex 29,681.77 0.41

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln