INGOT Brokers AU | MENA market report (2017-06-15)

MENA market report (2017-06-15)


MENA’s equity were mixed on Thursday due to the decline in oil prices, however despite the decline I oil prices, Dubai and Qatar shares were higher, while Saudi’s shares were weaker due to the hopes which will be put on review for possible emerging market status next week.

Although the oil prices decreased, Qatar’s index extends recovery from the losses generated last week due to the diplomatic crisis in the region, where Qatar’s index added 0.74% to close at 9257.90.

Meanwhile in Kuwait, Boursa Kuwait 15 Index rose by 0.31 percent to end the session at 901.27, while Oman index fell by 0.99% to close at 5248.410.


•          Saudi Arabia Stock Market


After the losses generated by the sectors of Media & Pushing, Industrial Investment and Multi Investment, Saudi equities were weaker on Thursday, declined by 0.48% to close at 6820.81.

Today’s losers outnumbered the gainers by 109 shares, with 140 gainers, 31 losers and 6 unchanged.

The best performers of the session on the Tadawul All Share were Emaar The Economic City, which rose 2.29% to trade at 13.40 at the close. Meanwhile, Salama Cooperative Insurance Co added 2.01% to end at 17.28 and Aldrees Petroleum & Transport Svcs was up 1.80% at 22.62 in late trade.

The worst performers of the session were Tihama Advertising & Public Relations, which fell 9.82% to trade at 32.15 at the close. Alujain Corporation declined 5.56% to end at 23.46 and Saudi Printing & Packaging Company was down 5.31% to 13.90.


•          United Arab Emirates Stock Market


As the profits generated by Finance & Investment, Real Estate & Construction and Transport   sectors, and due to the losses generated by Banking, Insurance and Services sectors, UAE’s equities were mixed on Thursday.

At the close in Dubai, the DFM General rose 0.25% at 3459.44, while the ADX General index declined 0.75% at 4501.77.

Declining stocks outnumbered the rising ones on the Dubai Stock Exchange by 19 to 10 and 7 ended unchanged; while on the Abu Dhabi Stock Exchange, 18 declined and 6 advanced, while 7 ended unchanged.

The best performers of the session on the DFM General were Gulf Navigation Holding PJSC, which rose 4.90% to trade at 1.500 at the close. Meanwhile, Takaful Emarat PSC added 3.48% to end at 2.380 and Dubai Investments PJSC was up 2.34% at 2.190 in late trade.

The worst performers of the session were Gulf General Investments Company, which fell 2.50% to trade at 0.390 at the close. Arabtec Holding PJSC  declined 2.43% to end at 0.762 and Takaful House was down 1.77% at 1.110.

On the other hand, The top performers on the ADX General were Dana Gas which rose 7.35% to 0.730, Commercial Bank International which was up 3.31% to settle at 1.250 and Natl Bk Of Rak which gained 2.84% to close at 4.54.

The worst performers were Nat Bk Qaiwain which was down 9.84% to 2.75 in late trade, Union Natl Bk which lost 4.55% to settle at 4.620 and Gulf Cement Co was down 4.12% to 0.9300 at the close.


•          Egypt Stock Market


The Egyptian stock market index EGX30 fell by 0.17 percent to end at 13,478.75 as the losses generated by Consumer cyclical, Telecommunication services and financial sectors.

The best performer of the session on the EGX 30 were, Amer Group Holding Co SAE rising by 5.26%, Porto Group Holding SAE adding 5.13% and Easten Co SAE settling 4.40% higher at 290.

The worst performers of the session on the EGX 30 were, Qalaa Holding SAE shading 3.57%, EFG Hermes Holdings SAE dropping 3.54% and Emaar Misr for Development SAE ended 3.71% lower at 8.05.

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