INGOT Brokers AU | MENA market report (2017-08-15)

MENA market report (2017-08-15)

MENA’s equities ended today’s session in the red territory as the earning announcements by several companies in the region have weighed on the stock markets.

TASI declined by 0.31% during today’s session; Insurer MedGulf Co has reported a large loss for the second quarter of this year by 2.3%, which led its stock to fall sharply on Tuesday. Moreover, earlier this month Wafa Co. reported a decline in its profits for this quarter and its stock dropped by 2.8%.

Both equity markets in UAE Dubai and Abu Dhabi were lower on Tuesday as DFGI declined by 0.18% while ADI fell by 0.21%. The best real estate developer in Dubai Emmar Prosperities reported an increase in its net profit for the second quarter by 14.4%. However, Union properties reported a net loss of their annual profit by 2.29 billion dirhams. In Abu Dhabi Dana Gas stated that their net profit declined by 71% in this quarter.

Meanwhile, in Qatar, Qatar’s equity closed today’s session in negative territory where QSI index fell by 0.62% at 9,134.36 due to the losses generated by Healthcare and Telecommunication Services sectors. Amal Co QSC where the best performer in today’s session as it stock gained 1.19% to settle up at 11.04, while the worst performer was United Development Company QPSC as it stock fell by 0.43 points to end lower at 16.17.

Also, Kuwait equities traded lower today as KW15 fell by 0.08% at 972.59 as the losses generated by Industrials sector have weighed on the equities. The biggest gainer during today’s session was Mobile Telecommunications Company KSCP  as its stock rose by 1.43% to trade at 496.0. However, Kuwait Projects Company Holding KSCP was the worst performer where its stock dropped by 2.17% at 361.0.

Omani share was weaker during the session today, MSI fell by 0.78% at 4,938.530 due to the losses generated by Consumer Non-Cyclicals and Telecommunication Services sectors. Most of the shares which listed in Muscat Stock exchange generated losses while only 16 shares remained flat. The worst performer on MSI was Oman Fisheries Co SAOG as its stock fell by 5.71% to settle down at 0.099.


•          Saudi Arabian Stock Market

Saudi Arabia stocks ended Tuesday’s session in the red after recording losses in the Healthcare, Consumer Non-Cyclicals, and Consumer Cyclicals sectors. The TASI fell 0.31 percent to close at 7,103.24 points.

Today’s losers significantly outnumbered the gainers, with 36 gainers, 122 losers, and 17 flat shares.

The best performers on Tadawul All Share Index were, Saudi Airlines Catering Co SJSC surging by 4.62 percent, Banque Saudi Fransi SJSC gaining 3.00 percent and Al Khaleej Training and Education Co SJSC ending higher by 2.87 percent.

Meanwhile, the worst performers on Tadawul All Share Index were, Saudi Research and Marketing Group SJSC falling by 9.84 percent, Saudi Arabian Cooperative Insurance Co SJSC losing 9.55 percent and Al Jazira Mawten REIT ending 6.93 percent.

•          United Arab Emirates Stock Markets

United Arab Emirates stocks closed today’s trading session in negative territory as the losses in the Basic Materials & Consumer Non-Cyclicals, Healthcare, and Industrials sectors weighed on equities.

At the close in Dubai, the DFM General fell by 0.18% percent to close at 3579.56 points, while the ADX General Index declined 0.21 percent to trade at 4,471.11 points.

Declining stocks outnumbered advancing ones on the Dubai Stock Exchange by 15 to 6, and 15 ended unchanged; on the Abu Dhabi, 13 declined and 5 advanced, while 43 ended unchanged.

The best performers of the session on the DFM General were Amlak Finance PJSC which rose 1.92 percent to trade at 1.060 at the close. Meanwhile, Damac Properties Dubai Co PSC added 1.56 percent to end at 3.900, and National Central Cooling Co PJSC was up 0.48 percent to trade at 2.080.

The worst performers of the session were Marka PJSC which fell 5.14 percent to trade at 0.665 at the close. Union Properties PJSC declined 4.32 percent to end at 0.820, and Dubai Islamic Insurance and Reinsurance Co PSC edged down 4.17 percent or 0.04 points to 0.920.

The top performers on the ADX General were Commercial Bank International PSC which gained 14.55 percent to close at 1.26; National Marine Dredging PSC was up 4.20 percent to settle at 4.20, and National Bank of Ras Al Khaimah PSC which gained 1.97 percent to close at 4.65.

The worst performers were Arkan Building Materials Co PJSC which was down 6.06 percent to 0.62 in late trade, Sharjah Cement and Industrial Development Co PSC which lost 5.71 percent to settle at 0.99, and Waha Capital PJSC which was down 3.37 percent to 1.72 at the close.


•          Egypt Stock Market

Egypt equity market ended the Tuesday’s session in negative territory to declining by 0.25 percent or 32.71 points to close at 13,102.39 points.

The top performers in on the EGX 30 were Sidi Kerir Petrochemicals Co SAE, and Oriental Weavers Carpet Co SAE rose 2.35 percent and 2.24 percent, respectively. On the other hand, Amer Group Holding Co SAE, A Qalaa Holdings SAE, and Pioneers Holding Company for Financial Investments SAE declined by 6.25 percent, 3.57 percent, and 3.50 percent, respectively.




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