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MENAFN - The Peninsula - 29/01/2014
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(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
 Feb 27 2015 - UAE's Etisalat posts USD13.28b revenue in 2014MENAFN
(MENAFN) UAE's Etisalat , or Emirates Telecommunications Corporation, posted USD2.42 billion net profit on revenues of USD13.28 billion in 2014, Gulf News reported.The telecommunications company said ...

 Feb 27 2015 - Oman's economic growth projected at USD75b in 2015MENAFN
(MENAFN) Oman's real gross domestic product (GDP) growth is projected at about 3.2 percent and 3.4 percent in 2015 and 2016, respectively, by global rating agency Standard & Poor's, Times of Oman ...

 Feb 27 2015 - UAE's Meraas gets USD588.8m contracts for advanced Dubai property projectsMENAFN
(MENAFN) UAE's Meraas was awarded USD588.8 million worth of contracts to Al Futtaim Carillion to build its ambitious Le Mer and Dubai Creek Waterfront schemes, The National reported.The project is ...

 Feb 27 2015 - Lebanon-born Syrian refugees risk stateless legal limboAFP
(MENAFN - AFP) Syrian refugee Yasmine Khalaf lies next to her day-old daughter Israa in a Lebanese hospital, worrying that her tiny newborn risks life without a legal identity. Israa, sleeping ...

 Feb 26 2015 - Jordan- King departs for CairoJordan News Agency
(MENAFN - Jordan News Agency) Amman Feb. 26 (Petra)- His Majesty King Abdullah II on Thursday left for Cairo on a visit to Egypt during which he will hold talks with Egyptian President Abdul Fattah ...

 Feb 26 2015 - Jordan- 688 dead 14000 injured in traffic accidents in 2014Jordan News Agency
(MENAFN - Jordan News Agency) Amman Feb. 26 (Petra)Statistics issued by the Central Traffic Department (CTD) Thursday showed that the number of traffic accidents and deaths had declined in 2014 ...

 Feb 26 2015 - Jordan- Conference on women in Sharia concludes meetingsJordan News Agency
(MENAFN - Jordan News Agency) Amman Feb.26 (Petra) - The closing session of Women in Sharia" conference which concluded meetings Wednesday evening discussed challenges faced by workers in the defense ...

 Feb 26 2015 - Jordan condemns burning of church in Jerusalem by Jewish extremistsJordan News Agency
(MENAFN - Jordan News Agency) Amman Feb. 26 (Petra)Minister of State for Media Affairs Mohammad Al Momani Thursday condemned the burning of a church by Jewish extremists in occupied Jerusalem earlier ...

 Feb 26 2015 - Jordan NATO discuss ties counter- terrorism effortsJordan News Agency
(MENAFN - Jordan News Agency) Amman Feb. 26 (Petra)Secretary-General of the Ministry of Foreign Affairs and Expatriate Affairs Mohammad Bani Yaseen and NATO Assistant Secretary General for Emerging ...

 Feb 26 2015 - Lebanese economy to grow 2.2 percent in 2015MENAFN
(MENAFN) Lebanon anticipates its economy to grow 2.5 percent in 2015, according to finance minister, after reporting a Eurobond of USD2.2 billion, the largest issue in the country's history, ...

more...


 






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