INGOT Brokers Australia | MENA market report (2017-06-01)

MENA market report (2017-06-01)

•             Saudi Arabia Stock Market

Relatively large losses in Utilities, Financial Services and Healthcare sectors drove Tadawul’s shares lower, where the Saudi stock market index Tadawul All Share Index settled down by 0.11 percent to end the session at 6,863.62.

Today’s losers significantly outnumbered the gainers by 25 shares, with 53 gainers, 78 losers and 42 unchanged.

The best performers of the session on the Tadawul All Share Index were, Saudi Fisheries Co which rose 10.47 percent or 2.70 points to trade at 28.50 at the close. Meanwhile, Al Andalus Property Co added 4.54 percent or 1.00 points to end at 23.05 and Saudi Company for Hardware was up 3.42 percent or 3.5 points to 105.75 in late trade.

The worst performers of the session on the Tadawul All Share Index were, Arabia Insurance Cooperative Co which fell 3.01 percent or 0.40 points to trade at 12.90 at the close. Banque Saudi Fransi declined 2.53 percent or 0.70 points to end at 27.00 and Fitaihi Holding Group was down 1.95 percent or 0.25 points to end the session at 12.60.

•          United Arab Emirates Stock Market

Gains in the Energy, Consumer Non-Cyclicals, Utilities and  Telecommunications Services sectors drove the United Arab Emirates stock market indices to close in the green, with Dubai Financial Market General Index rising by 0.37 percent to close at 3,351.73 and Abu Dhabi Exchange General Index surged by a margin of  1.16 percent to settle up at  settling 4,4789.81.

Rising stocks outnumbered declining ones on the Dubai Stock Exchange by 18 to 7 and 11 ended unchanged; on the Abu Dhabi, 14 rose and 9 declined, while 38 ended unchanged.

The best performers of the session on the DFM General Index were, Dubai Islamic Insurance Co. which rose 14.89 percent or 0.126 points to trade at 0.972 at the close. Meanwhile, Dar Al Takaful added 5.31 percent or 0.06 points to end at 1.190 and Islamic Arab Insurance Co was up 5.16 percent or 0.022 points to settle at 0.448 in late trade.

The worst performers of the session on the DFM General Index were Damac Properties Dubai which fell 3.01 percent or 0.09 points to trade at 2.900 at the close. Aramex PJSC declined 2.16 percent or 0.11 points to end at 4.990 and Ajman Bank PJSC was down 0.84 percent or 0.01 points to 1.180.

On the other hand, the best performers of the session on the Abu Dhabi Exchange General Index were, AXA Green Crescent Insurance Co PJSC which rose 13.04 percent to 0.78 National Bank of Fujairah PJSC which was up 10.03 percent to settle at 3.29 and Union Cement Co PSC which gained 8.70percent to end the session at 1.25.

The worst performers of the session on the Abu Dhabi Exchange General Index were, Commercial Bank International PSC which was down 6.58 percent to 1.42 in late trade, Invest Bank PSC which lost 5.62 percent to settle at 2.35 and Agthia Group PJSC which was down 2.81 percent to finish the session at 5.53.

•          Egypt Stock Market

The Egyptian stock market index EGX30 rose for two consecutive sessions the index was up 0.96 percent or 127.66 points to end at 13,467.29 nearing its six month’s high, supported by the gains in Consumer Cyclicals, Basic Materials and Financial sectors.

Gains in Consumer Cyclicals and Basic Materials sectors led the majority of the Index’s shares higher, where today’s gainers outnumbered the losers by 17 to 3 with 10 shares left unchanged.

The best performers of the session on the EGX 30 were, Heliopolis Co for Housing and Development SAE rose by 6.77 to end the session at 28.85, Qalaa Holdings SAE added 3.80 percent or 1.83 points to settle at 0.82. and Arabia Cotton Ginning Co SAE was up by 2.90 percent to trade at 4.62 at the close.

The worst performers of the session on the EGX 30 were, EFG Hermes Holdings SAE shedding 2.85 percent or 0.73 point to trade at 24.91, followed Porto Group Holding SAE dropping 2.63 percent or 0.01 to end at 0.37.and Orascom Construction Ltd ended 2.43 percent lower to settle at 116.20.

 

 

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