INGOT Brokers AU | MENA market report (2017-05-31)

MENA market report (2017-05-31)

•             Saudi Arabia Stock Market

The relatively large gains in Agriculture & Food, Retail and Financial Services sectors left Tadawul’s shares higher, where the Saudi stock market index Tadawul All Share Index settled higher by 0.01% or 6,871.

Oil shipper National shipping Co (Bahri.SA) ended up 0.3 percent after the news which states that the company have signed a joint venture agreement with state oil Aramco, London-listed Lamprell and South Korea's Hyundai Heavy Industries to build and operate a shipyard on the kingdom's east coast.

Today’s losers significantly outnumbered the gainers by 25 shares, with 87 gainers, 61 losers and 30 unchanged.

The best performers of the session on the Tadawul All Share Index were, National Gas & Industrialization Co which rose 4.71% or 1.40 points to trade at 31.10 at the close. Meanwhile, Middle East Paper Co added 4.20% or 0.60 points to end at 14.90 and Taiba Holding Co. was up 3.70% or 1.50 points to 42.00 in late trade.

The worst performers of the session on the Tadawul All Share Index were, Saudi Industrial Investment Group which fell 2.77% or 0.55 points to trade at 19.30 at the close. Salama Cooperative Insurance Co declined 2.74% or 0.45 points to end at 16.00 and Gulf Union Cooperative Insurance was down 2.62% or 0.45 points to 16.75.

 

•          United Arab Emirates Stock Market

Losses in the Services, Real Estate & Construction and Consumer Staples sectors drove the United Arab Emirates stock market indices to close in the red, with Dubai Financial Market General Index falling by 0.03% to 3,339 and Abu Dhabi Exchange General Index declining 1.7% or settling down at 4,427.

Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 20 to 15 and 3 ended unchanged; on the Abu Dhabi, 12 rose and 6 declined, while 6 ended unchanged.

The best performers of the session on the DFM General Index were, Dubai Islamic Insurance Co. which rose 14.95% or 0.110 points to trade at 0.846 at the close. Meanwhile, Takaful House added 8.65% or 0.090 points to end at 1.130 and Islamic Arab Insurance Company was up 5.97% or 0.024 points to 0.426 in late trade.

The worst performers of the session on the DFM General Index were Emaar Malls which fell 2.34% or 0.060 points to trade at 2.500 at the close. Dubai Financial Market PJSC declined 1.80% or 0.020 points to end at 1.090 and Arabtec Holding PJSC was down 1.68% or 0.013 points to 0.762.

On the other hand, the best performers of the session on the Abu Dhabi Exchange General Index were, Em Driving Co which rose 14.12% to 9.70, Ad Aviation which was up 8.00% to settle at 2.700 and Agthia Group which gained 6.95% to close at 5.69.

The worst performers of the session on the Abu Dhabi Exchange General Index were, First Abu Dhabi Bank PJSC which was down 3.65% to 10.55 in late trade, Union Natl Bk which lost 1.87% to settle at 4.710 and Emirates Telec which was down 1.71% to 17.20 at the close.

 

•          Egypt Stock Market

The Egyptian stock market index EGX30 rose in an up trending session by 0.76% or 100.47 points to end at 13,339.63 nearing its six month’s high, supported by the gains in Financials and Consumer Cyclicals sectors.

However the loses in Basic Materials and Industrials sectors led the majority of the Index’s shares lower, where today’s losers outnumbered the gainers by 23 to 6 with a single flat share.

The best performers of the session on the EGX 30 were, Commercial International Bank Egypt S.A.E. rising by 3.89%, Heliopolis Co for Housing and Development SAE adding 0.94 points and Talaat Mostafa Group Holding Co SAE settling 2.70% higher at 7.66.

The worst performers of the session on the EGX 30 were, Sidi Kerir Petrochemicals Co SAE shading 4.86%, Cairo for Oil and Soap Co SAE dropping 0.42 points and Amer Group Holding Co SAE ended 2.94% lower at 0.33.

 

 

 

© Copyright 2017

The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects Gotinsiders.com current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterized by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.