INGOT Brokers AU | MENA market report (2017-10-25)

MENA market report (2017-10-25)

Overview:

MENA shares were mixed on Wednesday, while oil prices traded lower.

Bahraini stocks were up today as the primary Bahrain Benchmark Bahrain All Shares Index added 0.15 percent or 1.959 points to close the session in the green territory at 1,278.46, supported by the gains in Financial sectors while other sectors remained unchanged during today’s session.

Meanwhile, Kuwaiti shares fell on Wednesday where its leading index KW15 dropped by 0.19 percent or 1.93 points to close the session on negative notes at 995.10 as the losses in Consumer Cyclicals sectors weighed on the stocks.

However, Qatar’s equities closed today’s trading session in the green where it main index QSI gained 0.18 percent or 14.57 to settle up at 8,124.73 supported by the gains in Healthcare, Utilities and Industrials sectors.

On oil pace, oil prices fell on Wednesday where U.S crude oil was traded at $52.32 a bushel, OPEC will continue to cut oil production till March 2018.

Saudi Stock Market:

Saudi equities were higher today where TASI advanced by 0.30 percent or 20.92 points to close up at 6,905.82 supported by the gains in all sectors except Healthcare and Consumer Non-Cyclicals as both fell by 0.37 and 0.34 percent respectively.

SEC was one of the biggest gainers, rising by 4.5 percent in early trading after news on Tuesday that the kingdom will consider selling a large stake in the utility to SoftBank Vision Fund, the world's largest private equity fund.

The stock of Middle East Healthcare fell by 4.18 percent today as the firm reported a decline of 39.8 percent in its net profit during the quarter endeing September 2017.

United Arab Emirates Stock Market:

Both Abu Dhabi and Dubai equities were higher on Wednesday.

Abu Dhabi stocks rose on today’s trading session as it leading Benchmark ADI added 0.07 percent or 2.95 points to settle higher at 4,499.39 supported by the gains in Energy and Basic Materials sectors.

Also, Dubai shares were higher today as its primary index DFMGI rose by 0.66 percent or 23.92 points to close the trading session in positive territory at 3,665.36 supported by the gains in Basic Materials, Healthcare and Financials sectors.

Egypt Stock Market:

However, Egyptian shares fell today where its main index fell by 0.19 percent or 27.00 points to settle lower at 13,901.38 as the losses in Basic Materials, Industrials and Financials sectors pressured the shares.

 

 

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