Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar Exchange index dips by 75.61 points  Join our daily free Newsletter

MENAFN - The Peninsula - 29/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) Qatar Exchange index lost 75.61 points, or 0.67 percent, yesterday to reach 11,170.25 points from the previous closing of 11,245.86 points yesterday



The volume of shares fell to 7,747,626 from Monday 8,717,748 and the value of shares decreased to QR451,078,249.96 from QR525,331,411.06 on Monday



Among the top losers were Qatar National Bank whose share was down 1.61 percent to QR183.00, Commercial Bank of Qatar lost 1.24 percent to QR71.50, Ooredoo fell 4.23 percent to QR149.40 and Islamic Holding decreased by 1.62 percent to QR45.65



The Banking and Financial sector index lost 0.84 percent while Consumer Goods and Services sector index added 0.33 percent. The Industrial sector was up 0.06 percent while insurance sector gained 0.94 percent points



Meanwhile, Egypt's stock market climbed to a 44-month high yesterday after the army chief was given the green light to run for president, while markets in the United Arab Emirates snapped a two-session decline.



The Supreme Council of the Armed Forces cleared Field Marshal Abdel Fattah Al Sisi to run in upcoming elections, which he looks sure to win. Many Egyptians see him as the best chance for political stability.



"Sisi still didn't officially announce his bid for presidency, but all roads are leading in that direction because of popular demand," said Mohamed Radwan, director of international sales at Pharos Securities in Cairo.



"People are more comfortable having Sisi as president rather than anyone else because it creates a sense of stability."



Sentiment was also helped by Finance Minister Ahmed Galal saying the interim government would soon launch a second stimulus package of about the same size as the first one, 30bn Egyptian pounds (4.3bn).



In a sign that Sisi may have to face a growing Islamist militant campaign, gunmen killed a senior Egyptian Interior Ministry official outside his home in Cairo on Tuesday, according to security officials.



But for now at least, many investors feel the level of violence is tolerable. Cairo's benchmark index rose 1.5 percent to 7,368 points, its highest level since May 2010.



It climbed above strong technical resistance at 7,248 points, the January 2011 high; a weekly close above that level would confirm a break. The index faces another major resistance at 7,693 points, the peak in April 2010



Shares in EFG-Hermes rose 3.3 percent after the investment bank said it was arranging three initial public offers of shares with a combined value of over 300m this year - Egypt's first IPOs since 2010.



In the United Arab Emirates, Dubai's bourse jumped 3.2 percent to 3,805 points, halting a two-day drop that was triggered by the global sell-off in emerging markets. It ended just short of Thursday's five-year, intra-day peak 3,826 points



Blue chip Emaar Properties jumped 6.3 percent to 8.24 dirhams, its highest close since September 2008, after EFG-Hermes raised its price target for the stock to 10.1 dirhams and upgraded it to a 'buy', citing improved sentiment towards growth stocks in the region and the strengths of Emaar's own business, which saw strong gains in leasing and hospitality revenues during the first nine months of last yea

 


The Peninsula




  MENA News Headlines
 Jan 31 2015 - Bahrain's Investcorp to buy Spanish ceramics firmMENAFN
(MENAFN) Bahrain-based Investcorp said that it will be acquiring Fritta, a Spanish company that makes products for the ceramics industry, Arabian Business reported.Fritta produces important items in ...

 Jan 31 2015 - Total wins 10 percent stake in Abu Dhabi oil concessionsMENAFN
(MENAFN) French company Total said that it has signed a deal with the Abu Dhabi National Oil Company (Adnoc) for a 10 cent stake in developing oilfields in Abu Dhabi as part of oil concessions for a ...

 Jan 31 2015 - Iraqi oil exports decline in JanuaryMENAFN
(MENAFN) Iraq, OPEC's second-largest producer, registered a decline in its oil exports from its southern region in January from a record high recorded in the previous month due to shipping delays, ...

 Jan 31 2015 - Vodafone Qatar revenue up 21 percent in 9MMENAFN
(MENAFN) Vodafone Qatar's said its total revenue grew by 21 percent to USD474.59 billion for the nine months ended December 31, 2014, The Peninsula Qatar reported.The company's mobile customer base ...

 Jan 31 2015 - Qatar Airways to acquire 10 percent of IAGMENAFN
(MENAFN) Qatar Airways announced that it has bought nearly 10 percent of the parent company of British Airways and Spain's Iberia, deepening wealthy Qatar's business ties to Europe, Arab News ...

 Jan 31 2015 - Saudi RCJY signs three deals worth USD138.25mMENAFN
(MENAFN) Chairman of the Royal Commission for Jubail and Yanbu (RCJY) signed three contracts worth USD138.25 million to provide essential equipment and develop industrial zones, Arab News ...

 Jan 31 2015 - Saudi- Outspoken prince to launch pan-Arab news channelThe Peninsula
(MENAFN - The Peninsula) An outspoken, billionaire Saudi prince will on Sunday launch a pan-Arab satellite news channel aimed at challenging established networks in the region.Prince Alwaleed bin ...

 Jan 31 2015 - Qaeda in Yemen says France top enemyThe Peninsula
(MENAFN - The Peninsula) The ideological leader of Yemen-based Al-Qaeda in the Arabian Peninsula (AQAP) said Friday that France had surpassed the United States as the top enemy of Islam.With the ...

 Jan 31 2015 - Qaeda group launches assault on Western-backed Syria rebelsThe Peninsula
(MENAFN - The Peninsula) Al-Qaeda's affiliate in Syria battled Western-backed rebels Friday as the jihadists pressed their bid to seize control of northern areas, a monitoring group and rebels ...

 Jan 31 2015 - Iraq- Air strike kills IS 'chemical weapons expert'The Peninsula
(MENAFN - The Peninsula) A US-led coalition air strike killed a chemical weapons specialist with the Islamic State group in Iraq who once worked for Saddam Hussein, US military officers said ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help