INGOT Brokers AU | MENA market report (2017-05-18)

MENA market report (2017-05-18)

  • Saudi Arabia Stock Market

Losses in the Media & Publishing, Retail and Petrochemicals sectors drove the Saudi Arabia’s stock market down by 0.13% to close at 6,938 points on Thursday’s trading session. However the index still outperformed its peers for the week, also it is worth mentioning that next week markets will keep an eye on the visit by U.S. president Donald Trump to Saudi Arabia as investors are expecting that this visit will give a push to the economy through signing deals that could help the mining, energy, auto and defense sectors to grow rapidly.

Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 110 to 41 and 26 ended unchanged.

Tadawul’s best performers of the session were Alujain Corporation which rose 6.69% or 1.60 points to trade at 25.50 at the close. Meanwhile, National Agriculture Development Co added 6.69% or 1.90 points to end at 30.30 and Saudi Industrial Development Co. was up 4.02% or 0.45 points to 11.65 in late trade.

While the worst performers of the session were Alinma Tokio Marine Co which fell 3.61% or 1.00 points to trade at 26.70 at the close. Solidarity Saudi Takaful Co declined 2.92% or 0.55 points to end at 18.30 and Tihama Advertising&Public Relations was down 2.77% or 1.10 points to 38.60.

  • United Arab Emirates Stock Market

Furthermore the United Arab Emirates’ stock markets declined in Thursday’s trading session, with DFM General Index falling by 0.50%, while ADX General Index dropped by 0.27%.

The losses in the Consumer Staples, Finance & Investment and Real Estate & Construction sectors drove the index down, those losses were correlated with the losses in the MSCI emerging market index as DXBE Entertainments fell 4.3 percent and Emaar Properties chop 0.8 percent

Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 25 to 9 and 4 ended unchanged; on the Abu Dhabi, 11 fell and 6 advanced, while 5 ended unchanged.

DFM’s best performers of the session were Gulf Navigation Holding PJSC which rose 5.26% or 0.070 points to trade at 1.400 at the close. Meanwhile, Takaful Emarat PSC added 3.67% or 0.080 points to end at 2.260 and Takaful House was up 1.92% or 0.020 points to 1.060 in late trade.

And ADX’s General Index top performers were Abu Dhabi National for Building Materials Co PJSC which rose 13.46% to 0.590, Gulf Medical Projects Co PSC which was up 4.35% to settle at 4.80 and Arkan Building Materials Co PJSC (AD:ARKN) which gained 1.49% to close at 0.6800.

Meanwhile DFM’s worst performers of the session were DXB Entertainments (P.J.S.C.) which fell 4.32% or 0.037 points to trade at 0.820 at the close. Drake & Scull International PJSC declined 2.73% or 0.010 points to end at 0.356 and Gulf General Investments Company was down 2.22% or 0.009 points to 0.396.

Moreover ADX’s worst performers of the session Ad Natl Energy which was down 5.00% to 0.570 in late trade, Rak Cement Co which lost 3.61% to settle at 0.800 and Eshraq Properties Co PJSC which was down 2.73% to 1.0700 at the close.

  • Egypt Stock Market

Egyptian Stock market index EGX 30 ended in the session in red after falling 0.9 percent to close at 12,952.38 in Thursday’s trading session. The index was affected by the decrease in its largest share the commercial bank of Egypt which closed down by 0.9 percent

Today’s falling shares outnumber the gaining ones by 24 to 4 and 2 ended neutral.

EGX 30 best performers were, Eastern Co SAE rising by 2.01%, Heliopolis Co for Housing and Development SAE gaining 0.68% and Orascom Construction LTD rising 0.34%.

And EGX 30 worst performers were, Amer Group Holding Co SAE falling by 6.06%, Porto Group Holding SAE shading 6.06%, Cairo for Oil and Soap Co SAE dropping by 3.96% and Juhayna Food Industries SAE declined 3.58% to close at 8.63.

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