INGOT Brokers Australia | MENA Market Report (2017-06-05)

MENA Market Report (2017-06-05)

•             Saudi Arabia Stock Market

 

Top markets have in the Gulf Cooperation Council suffered early in the session, after an unexpected turn of events after Saudi Arabia, Egypt, the United Arab Emirates and Bahrain severed ties with Qatar, with the counties allegedly claiming that Doha is supporting terrorism. However, some markets were able to recover by the end of Monday’s session.

Gains in Energy, Financials and healthcare sectors drove Tadawul’s shares higher, where the Saudi stock market index Tadawul All Share Index settled up by 0.54 percent to end the session at 6,964.83.

Today’s losers significantly outnumbered the gainers by 33 shares, with 62 gainers, 95 losers and 16 unchanged.

The best performers of the session on the Tadawul All Share Index were, Al Baha Investment and Development Company SJSC which rose 9.94 percent or 2.46 points to trade at 27.20 at the close. Meanwhile, National Agriculture Marketing Company SJSC added 4.79 percent or 1.55 points to end at 33.90 and Arabian Shield Cooperative Insurance Company SJSC was up 3.84 percent or 1.55 points to 50.00 in late trade.

The worst performers of the session on the Tadawul All Share Index were, Abdullah Abdul Mohsin Al Khodari Sons Co SJSC which fell 2.32 percent or 0.24 points to trade at 10.12 at the close. MetLife AIG ANB Cooperative Insurance Co SJSC declined 2.31 percent or 0.50 points to end at 21.10 and Saudi International Petrochemical Co SJSC was down 1.93 percent or 0.28 points to end the session at 14.20.

 

•          United Arab Emirates Stock Market

 

Gains in the Energy, Telecommunications Services sectors helped offset some of the losses incurred early in the session as markets in the United Arab Emirates stock market indices to closed the session mixed, with Dubai Financial Market General Index dropping by 0.72 percent to close at 3,317.50 and Abu Dhabi Exchange General Index rose by a small margin of 0.03 percent to settle up at 4,484.46.

Falling stocks outnumbered rising ones on the Dubai Stock Exchange by 20 to 4 and 12 ended unchanged; on the Abu Dhabi, 13 declined and 8 advanced, while 8 ended unchanged.

The best performers of the session on the DFM General Index were, Drake and Scull International PJSC which rose 6.52 percent or 0.023 points to trade at 0.376 at the close. Meanwhile, National Central Cooling Co PJSC added 0.53 percent or 0.01 points to end at 1.910 and Damac Properties Dubai Co PSC was up 0.35 percent or 0.01 points to settle at 2.850 in late trade.

The worst performers of the session on the DFM General Index were Shuaa Capital PSC which fell 5.30 percent or 0.08 points to trade at 1.430 at the close. Aramex PJSC declined 2.76 percent or 0.14 points to end at 4.940 and Gulf General Investment Co PSC was down 2.63 percent or 0.01 points to 0.370.

On the other hand, the best performers of the session on the Abu Dhabi Exchange General Index were, Dana Gas PJSC which rose 6.82  percent to end the session at 0.47, Sharjah Islamic Bank PJSC which was up 2.22 percent to settle at 1.38 and Abu Dhabi Islamic Bank PJSC which gained 1.95 percent to end the session at 3.66.

The worst performers of the session on the Abu Dhabi Exchange General Index were, National Bank of Umm Al Qaiwain PSC which was down 8.62 percent to 2.65 in late trade, Abu Dhabi Aviation which lost 5.66 percent to settle at 2.50 and National Bank of Ras Al Khaimah PSC which was down 4.26 percent to finish the session at 4.50.

 

•          Egypt Stock Market

 

The Egyptian stock market index EGX30 was up 0.18 percent or 24.81 points to end at 13,520.13 nearing its six month’s high, supported by gains in Industrials,    Consumer Non-Cyclicals and Telecommunications Services.

where today’s losers outnumbered the gainer by 17 to 9 with 4 shares left unchanged.

The best performers of the session on the EGX 30 were, Orascom Construction Ltd rose by 3.78 to end the session at 121.00, EFG Hermes Holdings SAE added 2.66 percent or 0.67 points to settle at 25.87. Porto Group Holding SAE was up by 2.56 percent to trade at 0.40 at the close.

The worst performers of the session on the EGX 30 were, Arabian Cement Co SAE shedding 2.72 percent or 0.26 point to trade at 9.30, followed Oriental Weavers Carpet Co SAE dropping 1.68 percent or 0.32 to end at 18.76 and Egyptian Iron and Steel Co SAE ended 1.32 percent lower to settle at 4.47.

 

 

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