INGOT Brokers AU | MENA market report (2017-06-19)

MENA market report (2017-06-19)

The lake of fresh news in MENA Market and the increase in oil prices will affect the stock prices in the Gulf Markets. However, the hopes that KSA may join the MSCI’s group, which might lead to tiger billions of dollars of fund inflows, may continue to buoy the market. Moreover, the MSCI review will be announced on Tuesday.
Qatar’s index has weakened since the beginning of this month as most of Arab countries decided to cut the diplomatic relationships with Qatar, where Qatar’s index fell by 1.29% to close at 9069.34. 
Meanwhile in Kuwait, Boursa Kuwait 15 Index rose by 0.8 percent to end the session at 927.33, while Oman index fell by 0.54% to close at 5220.940. 
•    Saudi Arabia Stock Market

After the gains generated by the sectors of Financial Services, Industrial Investment and Insurance, Saudi equities were higher on Monday, rose by 2.4% to close at 7046.53.
Rising stocks outnumbered declining ones on the Saudi Arabia Stock Exchange by 145 to 27 and 7 ended unchanged.
The best performers of the session on the Tadawul All Share were Banque Saudi Fransi , which rose 7.45% to trade at 29.55 at the close. Meanwhile, Tabuk Agriculture Development Co added 6.72% to end at 12.70 and Sahara was up 6.33% at 13.10 in late trade.
The worst performers of the session were  Saudi Indian Company Insurance, which fell 7.01% to trade at 20.70 at the close. Salama Cooperative Insurance Co declined 2.33% to end at 16.78 and Medical Services Company was down 1.36% to 145.00.

•    United Arab Emirates Stock Market

As the profits generated by Services, Consumer Staples and Real Estate & construction sectors, and due to the losses generated by Telecoms, Banking and transport sectors, UAE’s equities were mixed on Monday.
At the close in Dubai, the DFM General rose 0.41% at 3458.37, while the ADX General index declined 0.21% at 4491.29. 
Declining stocks outnumbered the rising ones on the Dubai Stock Exchange by 18 to 13 and 8 ended unchanged; while on the Abu Dhabi Stock Exchange, 11 advanced and 8 declined, while 5 ended unchanged.
The best performers of the session on the DFM General were National Central Cooling Co., which rose 14.59% to trade at 2.120 at the close. Meanwhile, Takaful Emarat PSC added 7.21% to end at 2.380 and Gulf General Investments Company was up 2.06% at 0.396 in late trade.
The worst performers of the session were National Cement Company P.S.C., which fell 3.23% to trade at 3.00 at the close. SHUAA Capital PSC declined 2.17% to end at 1.350 and Dubai Financial Market PJSC was down 1.68% at 1.170.
On the other hand, the top performers on the ADX General were Gulf Cement Co which rose 3.26% to 0.950, Arkan Building Materials Co which was up 2.94% to settle at 0.700 and Union Natl Bk which gained 2.81% to close at 4.750.
The worst performers were Commercial Bank International which was down 6.67% to 1.120 in late trade, Rak Cement Co which lost 5.88% to settle at 0.800 and Dana Gas was down 2.86% to 0.680 at the close.

•    Egypt Stock Market

The Egyptian stock market index EGX30 fell by 11.92 points or 0.09% to settle at 13,508.39 up from 13,491.39 but below the session high at 13,532.13, these gains were led the gains in Industrials and Telecommunications Services sectors while losses in Consumer Cyclicals sector kept them limited. 
Today’s losers were almost as twice as much as the gainers, with 15 losers, 8 gainers and 7 flat shares.
The best performer of the session on the EGX 30 were, Ezz Steel Co SAE rising by 2.79%, Orascom Construction Ltd adding 3.17 points and Global Telecom Holding SAE settling 1.06% higher at 6.65.
The worst performers of the session on the EGX 30 were, Egyptian Iron and Steel Co SAE plummeting by 7.85%, Palm Hills Development Company SAE dropping 0.08 points and Porto Group Holding SAE ended 2.38% lower at 0.41.

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