INGOT Brokers AU | MENA market report (2017-07-13)

MENA market report (2017-07-13)

MENA’s equities continued its gains on Thursday, helped by the increase in oil prices and after the comments of Federal Reserve Janet Yellen, where Janet Yellen said on Wednesday that the monetary policy of U.S would be more tightened.

Moreover, as Qatar and UAE stock markets are both linked with MSCI emerging markets equity index, the equities of both were higher on Thursday, supported by inflows from emerging market investors.

On the political side, United States are trying to end the diplomatic crises between Qatar and four Arab countries. However, the trip of the U.S Secretary of States between Gulf countries didn’t lead to any sign about the probability of solving this crisis so far.

Moreover, the financial watchdog in Britain said on Thursday that the companies which controlled by sovereign states would be listed under new listing category. This category will come as the global stock exchanges are competing to win the Aramco listing as it’s expected to be the largest initial public offering.

As the gains generated by the sectors of Utilities, Financials, and Industrials, Qatar equities were higher on Thursday, where QSI rose by 2.04% at 9469.93. However, Oman and Kuwait equities were weaker on Thursday, where Muscat general index pressured by the huge losses generated by Consumer non-Cyclicals sector to decline by 0.94% at 5121.38. While, Boursa Kuwait 15 Index declined by 0.1% at 922.29 due to the large losses generated by the sectors of Telecommunication Services and Industrials.

The profits of Banking sectors in KSA has been increased as the Bank Saudi Franci and Alrjhi banking and investment increased their dividends payout, where Alrajhi’s share rose  by 1.2% and Bank al Jazira rose by 2.7%.

Both of indices of Dubai and AbuDhabi stock exchange were higher on Thursday, First AbuDhabi Bank rose by 3.94% as the bank financial results expected to be positive, while Union National Bank rose by 3.68% as the increase in the results in the second quarter of 2017.

•          KSA Stock Exchange:

As the gains generated by Media & Publishing, Hotels & Tourism and Financial Services Sectors, KSA’s equities were higher on Thursday where the main index (TASI) rose by 0.09% to close at 7,313.42.

Today’s losers on Tadawul all shares outnumbered the gainers with 83 losers, 80 gainers, and 12 stocks were left unchanged.

The best performers of the session on the Tadawul All Share were Saudi Research and Marketing Group that surged 9.94% to trade at 48.65 at the close. Meanwhile, Saudi Printing & Packaging Company advanced by 7.38% to end at 17.18 and Trade Union Cooperative Insurance was up 6.71% to 18.46 in late trade.

The worst performers of the session were Alujain Corporation that fell 4.69% to trade at 24.40 at the close. Southern Province Cement Co. declined 2.34% to end at 50.00 and Saudi Steel Pipe Company dropped 2.30% to 17.00.

•          UAE Stock Exchange:

UAE equities were higher on Thursday due to the gains generated by the sectors of Financial & Investments, Real States & Construction and Consumer Staples sectors, where ADI rose by 2.46% to close at 4518.07, while DFMG was up by 1.23% at 3537.42.

Advancing stocks outnumbered falling ones on the Dubai Stock Exchange by 22 to 13 and 3 ended unchanged; on the Abu Dhabi, 16 rose, and 7 declined, while 7 ended unchanged.

The best performers of the session on the DFM General were Damac Properties Dubai Co PSC which rose by 4.97% to trade at 4.010 at the close. Meanwhile, SHUAA Capital PSC added 4.27% to end at 1.220, and Dubai Investments PJSC added 2.76% to 2.230 in late trade.

The worst performers of the session were Takaful House, which tumbled 1.71% to trade at 1.150 at the close. National Central Cooling Co declined 1.41% to end 2.100 and Emirate Integrated Telecom Co PJSC was down 1.30% to 5.320.

The top performers on the ADX General  Ad Aviation rose by 14.75% to trade at 2.800, Ad Shipbldg Co was up 5.86% to settle at 2.350, and  Int Fish Farmi gained 5.62% to close at 1.69.

The worst performers were Abu Dhabi National for Building Materials Co PJSC who tumbled by 9.43% to trade late in the session at 0.480, Sharjah Cement AD lost 4.63% to settle at 1.030 and Eshraq Properties Co PJSC declined by 2.08% to trade at 0.940 at the close.

•          Egypt Stock Exchange:

As the gains generated by Financials, Basic Materials and Telecommunication Services, Egypt’s Equity were higher on Thursday, Where EGX30 rose by 0.97% at 13822.59.

Falling stocks outnumbered advancing ones by 15 losers, 10 gainers and 5 shares remained unchanged.

The best performers of the session on the EGX 30 were Egyptian Resorts Co SAE that added 6.67%, while Porto Group Holding SAE added 5.41% and Egyptian Iron and Steel Co SA and was up 3.19%.

The worst performers of the session on the EGX 30 were, Qalaa Holdings SAE declined by 2.97%, followed by Amer Group Holding Co SAE that fell by 2.86% and Orascom Construction Ltd ended the session 2.16% lower.









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