INGOT Brokers AU | MENA market report (2017-08-16)

MENA market report (2017-08-16)

MENA’s shares were mixed during today’s sessions, where Saudi, Emirati and Egyptian equities ended the session in the green while Qatari, Omani and Kuwaiti shares closed the session in negative territory.

In KSA stock market, TASI rebounded from the losses which generated by the past three days.

Also, equities in the both markets Dubai and Abu Dhabi ended the session in a positive territory, where DFMGI and ADI rose by 0.27% and 0.59% respectively. GFH acquired 1.2 billion infrastructure portfolio in the Middle East and Africa; its stock increased by 4.3% during Tuesday’s session. Union Properties was up by 0.5% after declining 4.3% in yesterday’s session, as the company reported 2.29 billion dirhams as a net loss during this quarter. In Abu Dhabi, the ADI supported by the gains which generated by Dana Gas on Thursday’s session, however Dana Gas stated on Monday that their quarterly net profit declined by 71%.

On the other hand, Qatar’s equity ended today’s session in the red as QSI dropped by 0.5% to settle at 9022.25 due to the losses generated by Healthcare and Basic Materials sectors. Ooredoo QSC was the best performer in the session as its share surged by 1.45% to settle at 90.90, while Medicare Group was the worst performer in the session where its stock fell by 3.13% to 77.50 at the close.

Moreover, Kuwait’s equities were lower today, KW15 declined by 0.41% at 968.62 as the losses in Consumer Non-Cyclicals and Consumer-Cyclicals sectors have weighed on the stocks. The biggest gainer on KW15 was Mobile Telecommunications Company KSCP as its stock rose by 1.81% at 505.0, while the biggest loser was Mezzan Holding Company KSCP where its share tumbled by 7.07% at 815.00 at the close.

Furthermore, Oman’s share ended today’s session in the red, MSI declined by 0.53% at 4912.570 due to losses generated by the sectors of Telecommunication Services and Utilities. Galfar Engineering and Contracting SAOG as it surged by 1.43% at 0.071, while Bank Dhofar SAOG was the worst performer where its stock fell by 2.27% to trade lower at 0.215.

•          Saudi Arabian Stock Market

Saudi Arabia shares ended Wednesday’s session in the green after recording gains in the Telecommunications Services, Financials, and Industrials sectors. The TASI rose by 0.35 percent to close at 7,128.35 points.

Today’s gainers significantly outnumbered the losers, with 113 gainers, 48 losers, and 14 flat shares.

The best performers on Tadawul All Share Index were, Taleem REIT Fund surging by 9.87 percent, Mediterranean and Gulf Cooperative Insurance and Reinsurance Co CJSC gaining 9.82 percent and Al Jazira Mawten REIT ending higher by 9.64 percent.

Meanwhile, the worst performers on Tadawul All Share Index were, Yanbu Cement Compay SJSC falling by 3.06 percent, Saudi Research and Marketing Group SJSC lost 3.03 percent and Al Baha Investment and Development Company SJSC ending 2.86 percent.

•          United Arab Emirates Stock Markets

United Arab Emirates stocks closed today’s trading session in positive territory as the gains in the Utilities, Energy, Consumer Non-Cyclicals and Telecommunications Services sectors supported the equities.

At the close in Dubai, the DFM General rose by 0.27% percent to close at 3589.30 points, while the ADX General Index surged 0.59 percent to trade at 4497.34 points.

Advancing stocks outnumbered declining ones on the Dubai Stock Exchange by 12 to 7, and 17 ended unchanged; on the Abu Dhabi, 11 rising and 9 declined, while 41 ended unchanged.

The best performers of the session on the DFM General were Dubai Islamic Insurance and Reinsurance Co PSC which rose 3.59 percent to trade at 0.953 at the close. Meanwhile, Arabtec Holding PJSC added 2.48 percent to end at 3.310, and Marka PJSC was up 1.95 percent to trade at 0.678.

The worst performers of the session were Deyaar Development PJSC which fell 1.33 percent to trade at 0.518 at the close. Dar Al Takaful PJSC declined 0.93 percent to end at 1.060, and Ajman Bank PJSC edged down 0.88 percent or 0.01 points to 1.130.

The top performers on the ADX General were Abu Dhabi National Insurance Co PSC which gained 12.50 percent to close at 3.60; Abu Dhabi National Energy Co PJSC was up 11.11 percent to settle at 0.60, and Dana Gas PJSC which gained 5.08 percent to close at 0.62.

The worst performers were Abu Dhabi Aviation which was down 10.00 percent to 2.61 in late trade, Umm Al Qaiwain General Investment Co PSC which lost 9.94 percent to settle at 1.45, and Commercial Bank International PSC which was down 9.52 percent to 1.14 at the close.

•          Egypt Stock Market

Egypt equity market ended the Wednesday’s session in positive territory to rise by 0.36 percent or 46.80 points to close at 13,149.19 points.

The top performers in on the EGX 30 were El Sewedy Electric Co SAE, and Telecom Egypt Co SAE rose 8.02 percent and 2.16 percent, respectively. On the other hand, Amer Group Holding Co SAE, Egyptian Chemical Industries SAE, and Pioneers Holding Company for Financial Investments SAE declined by 3.23 percent, 2.87 percent, and 2.37 percent, respectively.

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