INGOT Brokers AU | MENA market report (2017-07-27)

MENA market report (2017-07-27)

Overall, MENA’s equities were mixed on Thursday’s session where TASI, DFM, EGX30, and QSI closed the session in the red, while ADI, MSI, and KW15 closed the session in positive territory.
In KSA, the profit of National Medical Co. declined sharply from SAR 59.3 million to SAR 9.5 million, this led the stock to tumble by 6.4%, and the main index of KSA stock exchange (TASI) fell by 0.4% at the close. However, the stock of Chemanol Co. added 2% as the company reported an increase in their second quarter net profit of SAR 2.6 million; the profit was zero approximately in a year ago.
Equities in UAE were mixed; Dubai Financial Market General Index (DFMGI) dropped by 0.1%, While Abu Dhabi Index added 1% as on Wednesday Etisalat Co. announced that their net profit rose by 6%, its stock added 2.2% gains. However, on Thursday, the reports showed that its net profit declined by 14% in the second quarter of 2017.
Elsewhere in Egypt, EGX fell by 1.36 as the stock of Juhaina Co. sank by 4.2% as they reported a decline in their net profit by EGP 2.6 million. Moreover, Edita Food Industrial’s stock fell by 4.3% as the firm reported losses in their quarterly results of EGP1.7 million while before on year the company achieved EGP 41.6 million. Furthermore, the shares of the International commercial bank and Global Telecom declined by 1.9 and 3.0% respectively.
Meanwhile, Qatar’s equities ended today’s session in the red pressured by the losses in Basic Materials, Industrial and Financial sectors, where QSI fell by 0.22% to trade at 9,563.08. The biggest gainer in the session was, Commercial Bank QSC as its stock gained by 1.95% at 31.40, while Qatari Investors Group QSC was the worst performer, where its stock fell by 1.78% to end the session at 49.60. Qatar First Bank reported QAR 76.7 as a net loss for the first half of this year, while the Bank achieved 16.8 million profits in a year ago.
On the other hand, in Kuwait stock Exchange; the main index KW15 rose by 0.15 to close higher at 954.42 supported by the gains generated by Consumer Non-Cyclical sector. The biggest gainer in the session was Mezzan Holding Company KSCP as its stock added 2.25% gains to trade at 910.0. However, Kuwait Projects Company Holding KSCP was the worst performer where its stock declined by 1.33% to close lower at 370.0.
Also, Oman’s equities closed Thursday’s session in positive territory as MSI gained 0.40 to close higher at 5,047.59 due to the gains generated by Basic Materials sector. Raysut Cement Co SAOG was the best performer in today’s session as its stock rose by 7.11 to close at 0.948, while HSBC Bank Oman SAOG was the biggest loser in the session, its stock fell by 2.44% at 0.120.

KSA Stock Exchange:

KSA stocks fell on Thursday as losses in the Agriculture & Food, Transport, and Hotel & Tourism sectors pushed shares lower, Tasi dropped by 0.35% at 7,175.17.
Today’s losers on Tadawul all shares outnumbered the gainers with 116 losers, 42 gainers, and 17 stocks were left unchanged.
The top performers of the session on the Tadawul All Share, Saudi Research and Marketing Group SJSC that surged 9.98% to trade at 63.90 at the close. Meanwhile, Aldrees Petroleum and Transport Services Co SJSC advanced by 3.34% to end at 26.30 and Ash Sharqiyah Development Co SJSC was up 3.05% to 43.59 at the close.
The worst performers in today’s session were Al Hammadi Company for Development and Investment SJSC that tumbled by 2.22% to trade at 37.5. Allied Cooperative Insurance Group SJSC dropped 1.93% to end at 14.24, and National Agriculture Development Co SJSC lost 1.45% to the last settle at 27.20.

UAE Stock Exchange:

United Arab Emirates Equities were mixed in today’s session.
Equities in Dubai ended the session lower as DFM index fell by 0.06% to trade at 3606.17, while ADX rose by 0.98% to trade at 4568.28. Due to gains generated by Consumer Staples, Banking and Telecoms led shares higher, while the losses caused by real State & Construction, Finance & Investments and services sectors led shares lower.
Advancing stocks outnumbered falling ones on the Dubai Stock Exchange by 15 to 9, and 12 shares remained unchanged; on the Abu Dhabi Securities Exchange, 10 Declined, 9 advanced, while 42 ended unchanged.
The top performers of the session on the DFM General were Gulf Navigation Holding PJSC which surged by 2.19% to trade at 1.400 at the close. Meanwhile, Dar Al Takaful PJSC rose by 1.77% to end at 1.150, and Shuaa Capital PSC added 1.53% to 1.330 in late trade.
The worst performers of the session were Ajman Bank PJSC, which tumbled 2.48% to trade at 1.180. Emaar Malls Group PJSC declined 1.98% to end 2.470, and Dubai Investments PJSC was down 1.63 % to 2.410.
The top gainers on the ADX General were Bank of Sharjah PJSC which surged by 4.31% to trade at 1.21 at the close. Gulf Cement Co PSC was up 4.30% to settle at 0.97, Waha Capital PJSC gained 2.82% to close at 1.82.
The worst performers were Al Khazna Insurance Company PSC who tumbled by 7.89% to trade late in the session at 0.35, Dana Gas PJSC lost 3.08% to settle at 0.63, and Methaq Takaful Insurance Co PSC declined by 2.30% to trade at 0.85 at the close.

Egypt Stock Exchange:

The Egyptian stock market was lower in Thursday's session as losses in the Consumer Non-Cyclicals, Basic Materials and Consumer Cyclicals sectors pressured the equities, where Egyptian index EGX30 trading down by 1.36% to trade at 13,609.22 at the close.
Today’s losers on EGX30 outweighed the gainers by 27 to 1 and 2 flat shares.
The best performers of the session on the EGX 30 were Sidi Kerir Petrochemicals Co SAE that added 0.18%, while Arabia Cotton Ginning Co SAE and Porto Group Holding SAE remained flat to trade at 4.87 and 0.39 respectively.
The worst performers of the session on the EGX 30 were Juhayna Food Industries SAE who declined by 4.18%, followed by Amer Group Holding Co SAE that fell by 3.03% and Global Telecom Holding SAE ended the session 2.96% lower.


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