INGOT Brokers Australia | MENA market report (2017-08-01)

MENA market report (2017-08-01)

Gains in the Consumer Cyclicals and Industrials sectors, as well as the rise in the mid-sized and large companies, lift Dubai Financial Market higher while Abu Dhabi Stock Exchange was affected by the decline in its most significant listed shares.

Moreover, Saudi Arabian equities rose to settle higher, snapping their six-sessions losing streak.

Following the announcement that Dana Gas along with its consortium partners had been awarded $14 million plus interest in a dispute with Iraq's Kurdistan Regional Government led its shares by 3.1 percent higher.

 

•          Saudi Arabia Stock Market

Gains in the Energy sector led Saudi Arabia’s equities higher, but the losses in the Consumer Non-Cyclicals and Telecommunications Services sectors kept these gains limited.

Today’s gainers outnumbered the losers by 45 shares with, 105 gainers, 60 losers, and 10 flat shares. Moreover Tadawul All Share Index added 15.10 points or 0.21 percent to settle in the green at 7,107.27.

The best performers on Tadawul All Share Index were, Saudi Paper Manufacturing Co SJSC surging by 9.51 percent, Middle East Paper Co SJSC gaining 1.38 points and Middle East Specialized Cables Co SJSC ending higher at 6.60.

Meanwhile, the worst performers on Tadawul All Share Index were, Savola Group Company SJSC falling by 4.12 percent, Tourism Enterprises Co SJSC losing .2 points and Saudi Chemical Co SJSC ending 1.15 points lower at 37.35.

 

•          United Arab Emirates Stock Markets

Similar to yesterday’s trading session United Arab Emirates’ stock markets ended mixed, where Dubai Financial Market ending in the green led by the gains from Consumer Cyclicals and Industrials sectors while Abu Dhabi Securities Exchange traded mixed following the large losses in Healthcare sector while the gains in the Energy sector gains kept the losses limited.

In the two markets, the gainers outnumbered the loser with a large number of unchanged shares; Dubai Financial Market had 12 gainers, 9 losers, and 15 flat stocks while Abu Dhabi Securities Exchange had 10 gainers, 6 losers, and 45 unchanged shares.

Dubai Financial Market General Index gained 16.17 points or 0.45 percent to setter higher at 3,649.35, while Abu Dhabi Securities Exchange General Index ended lower by 0.1 percent or 4.50 points at 4,561.65 in its mixed trading session today.

The best performers on Dubai Financial Market General Index were, Dubai Investments PJSC rising by 2.54 percent, Air Arabia PJSC gaining 0.02 points and Emaar Properties PJSC ending higher at 8.390.

Meanwhile, the worst performers Dubai Financial Market General Index are, Damac Properties Dubai Co PJSC shading 2.50 percent, S Emirates NBD Bank PJSC losing 0.11 points and Takaful Emarat Insurance PJSC ending 0.03 points lower at 2.320.

The best performers on Abu Dhabi Securities Exchange General Index were, National Bank of Ras Al-Khaimah PSC rising by 4.17 percent, Sharjah Islamic Bank PJSC adding 0.05 points and Dana Gas PJSC ending higher at 0.66.

Meanwhile, the worst performers on Abu Dhabi Securities Exchange General Index were, Gulf Medical Projects Co PSC plunging by 9.91 percent, Al Khazna Insurance Company PSC losing 0.35 points and International Holding Company PJSC ending 0.03 points lower at 1.58.

 

•          Egypt Stock Market

Egyptian stock market ended in the red for the second consecutive trading session led by the relatively large losses in the Consumer Non-Cyclicals sector and following the sharp decline in the opening hour with the EGX30 ending lower at 13,396.22.

During today’s trading session the EGX 30’s movers were mostly losers, with 20 losers, 8 gainers, and 2 flat shares.

The best performers on EGX 30 were, El Sewedy Electric Co SAE rising by 3.15 percent, Arabian Food Industries Co SAE gaining 0.16 points and Arabian Cement Co SAE ending 0.63 percent higher at 8.00.

Meanwhile, the worst performers on EGX 30 were, Credit Agricole Egypt SAE falling by 3.95 percent, Orascom Construction Ltd losing 3.82 points and Amer Group Holding Co SAE ending 0.01 points lower at 0.31.

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