INGOT Brokers AU | MENA market report (2017-05-21)

MENA market report (2017-05-21)

  • Saudi Arabia Stock Market

After U.S president Donald Trump has visited Saudi Arabia, Saudi and U.S companies have signed on many deals and these deals valued by more than 200 billion dollars. This led the Saudi Arabia index (Tasi) to increase by 0.8% at 6,991 points.

Rising stocks outnumbered declining ones on the Saudi Arabia Stock Exchange by 122 to 32 and 22 ended unchanged.

Moreover, Tasi increased after the gains generated by the sectors of Media & Publishing, cement and Financial Services. Tadawul’s best performance were   Tabuk Agriculture Development Co, which increased by 5.36% at 13.75 at the close. Meanwhile, Takween Advanced Industries rose by 4.15% to end at 12.55 and Saudi Industrial Export Co was up 3.34% or 1.00 points to 30.90 in late trade.

The worst performers of the session were Umm Al-Qura, which fell 2.24% at 19.60. Emaar The Economic City declined 1.59% to end at 15.45 and Nama Chemicals Co. was down 1.03% to 19.25. Also, it should be noted that USD/SAR rose 0.01% to 3.7502.

•          United Arab Emirates Stock Market

Overall, after the gains generated by the sectors of Insurance , Consumer Staples and telecoms and the losses generated by the sectors of Services, Banking and Real states & Constructions, USE stocks were mixed on Sunday.

Rising stocks outnumbered declining ones on the Dubai Stock Exchange by 21 to 13 and 3 ended unchanged; on the Abu Dhabi, 11 rose and 8 declined, while 5 ended unchanged.

At the close in Dubai, the DFM General rose 0.25%. The best performers of the session on the DFM General were Arabtec Holding PJSC, which rose 10.77% to trade at 0.792 at the close. Meanwhile, Islamic Arab Insurance Company added 3.21 to end at 0.418 and Gulf Navigation Holding PJSC was up 2.86% to 1.440 in late trade.

The worst performers of the session were Gulf General Investments Company which fell 2.78% to trade at 0.385 at the close. Emirates NBD PJSC declined 1.69% to end at 8.150 and Takaful House was down 0.94% points to 1.050.

On the other hand, the ADX General index fell 0.24%. The top performers on the ADX General were Ad Natl Energy which rose 5.26% to 0.600, National Corp Tourism Hotels which was up 3.85% to settle at 2.70 and Gulf Cement Co which gained 3.16% to close at 0.9800.

The worst performers were Gulf Medical Projects Co PSC which was down 10.00% to 4.32 in late trade, Gulf Pharm Ind (which lost 3.49% to settle at 2.210 and Int Fish Farmi which was down 0.64% to 1.56 at the close.

It should be noted that the USD/AED was unchanged 0.00% to 3.6730.

•          Egypt Stock Market

Egyptian Stock market index EGX 30 rose 0.2 percent to 12,975 points.

EGX 30 best performers were, El Nasr For Manufacturing Agricultural Crops added 20.27%, Heliopolis Co for Housing and Development Egypt Aluminum rose by 9.97% and Misr National Steel - Ataqa gained 9.86%.

And EGX 30 worst performers were, El Orouba Securities Brokerage dropped by 8.82, Cairo Oils & Soap declined 6.78, El Kahera Housing fell by 6.64.

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