INGOT Brokers AU | MENA market report (2017-07-20)

MENA market report (2017-07-20)

Most of MENA’s equities were higher on Thursday’s session as an overnight increase in oil prices and due to the positive earnings in the biggest bank in Egypt.
Saudi’s equities closed today’s session in the green as the gains in the prices of Saudi Basic Industries’ stock where the share rose by 0.8% at 99.60.the stock of Morgan Stanley also increased from 86 to 122 in overnight. As Bank Al Inma announced that its earnings rose higher than expected at 2.1% on Wednesday, its stock still rising, Bank Al Inma Share is most heavy traded share.
In UAE, as Amlak and Damak were partnering to sell second homes to customers, Amlak share rose sharply by 14.3% while Damac dropped significantly by 1.3%.  However, Shuaa Capital’s stock increased 0.2 % after it agreed to acquire integrated securities and capital.
Elsewhere, in Egypt, the commercial International Bank reported an increase in its net profit by EGP 0.37 billion at 1.83, the increase in its net profit due to the devaluation in EGP and his stock rose by 18% this year due to positive earnings.
In Qatar Stock Exchange, Qatar’s equities are recovering after the diplomatic crises hit the shares after 4th of June 2017, where the QSI rose at 9562 points in today’s session, supported by the gains generated by Telecommunication Services and Basic Materials Sectors, however, on June 4, it closed at 9,924 points. The best performer on QSI I Today’s session was Gulf International Services QSC, which the share rose by 3.47% to close at 22.97, while the worst performer was Qatar Navigation QSC which its share declined by 5.15% at 68.20.
In Kuwait Stock Exchange, the equities closed the session in the green due to the gains generated by Financials Sector, where KW15 rose by 0.46% to settle at 931.35 at the close. The best gainer on the index was Kuwait Financial House KSCP where the stock increased by 2.78 % at 514.00, while the biggest loser on the index was Burgan Bank SAKP, which its stock gained 1.77% at 333.00.
Due to the losses in most of Oman’s sectors, the all of Oman’s stocks were lower in today’s session, and this led the main Index MSI to decline by 0.87% to settle at 4,999.370. The biggest loser in the session was Phoenix Power Co SAOG where the stock dropped by 4.17% at 0.114.
•    KSA Stock Exchange:
KSA equities gained on Thursdays Sessions as due to the gains generated by Retail, Transport and Media & Publishing sectors. TASI rose by 0.44% at 7,261.13.
Today’s gainers on Tadawul all shares outnumbered the losers with 107 gainers, 52 losers, and 16 stocks were left unchanged.
The top performers of the session on the Tadawul All Share were Malath Cooperative Insurance Company SJSC that surged 6.47% to trade at 23.68 at the close. Meanwhile, Tihama Advertising and Public Relations and Marketing Holding SJSC advanced by 5.82% to end at 37.25 and Batic Investments and Logistics Co was up 5.70% to 59.30 in late trade.
The worst performers of the session were Alujain Corporation SJSC that tumbled by 2.11% to trade at 23.20 at the close. Al Jouf Cement Co SJSC dropped 1.83% to end at 7.53, and Emaar The Economic City SJSC lost 1.28% to the last settle at 15.40.
•    UAE Stock Exchange:
United Arab Emirates Equities ended today’s session in negative territory.
Equities in Dubai ended the session lower as DFM index dropped 0.24% to trade at 3573.51 while ADX fell by 0.91% to trade at 4552.49 as losses generated by Services, Real State & Construction and Consumer Staples led share lower.
Falling stocks were equal to rising ones on the Dubai Stock Exchange by 13 to 13, and 10 shares remained unchanged; on the Abu Dhabi Securities Exchange, 9 declined, 5 advanced, while 47 ended unchanged.
The top performers of the session on the DFM General were Shuaa Capital PSC which surged by 14.88% to trade at 1.180 at the close. Meanwhile, Amlak Finance PJSC rose by 14.29% to end at 1.20, and Deyaar Development PJSC added 3.04% to 0.543 in late trade.
The worst performers of the session were Dubai Financial Market PJSC, which tumbled 2.46% to trade at 1.190 at the close. Damac Properties Dubai Co PSC declined 2.02% to end 3.880, and Emaar Malls Group PJSC was down 1.98 % to 2.480.
The top gainers on the ADX General were Invest Bank PSC which surged by 12.08% to trade at 2.69 at the close, Abu Dhabi Aviation was up 6.79% to settle at 2.99, and Abu Waha Capital PJSC gained 1.72% to close at 1.77.
The worst performers were Al Khazna Insurance Company PSC who tumbled by 8.89% to trade late in the session at 0.41, Union National Bank of Ras Al Khaim lost 6.45% to settle at 4.35, and Dana Gas PJSC declined by 2.94% to trade at 0.66 at the close.
•    Egypt Stock Exchange:
The Egyptian stock market rose in Thursday's session as gains in the Basic Materials, Telecommunication services, and Consumer Cyclicals sectors pushed the stock higher, where Egyptian index EGX30 trading higher by 0.06% to trade at 13,715.06 at the close.
Today’s losers on EGX30 outweighed the gainers by 22 to 8 and 0 flat shares.
The best performers of the session on the EGX 30 were Arabian Food Industries Co SAE that added 3.78%, while Medinet Nasr for Housing and Development SAE for Financial Investments SAE added 2.62% and Cairo for Oil and Soap Co SAE and was up 1.17%.
The worst performers of the session on the EGX 30 were, Ezz Steel Co SAE who declined by 3.94%, followed by Amer Group Holding Co SAE that fell by 2.86% and Egyptian Resorts Co SAE ended the session 2.70% lower.


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