Quotes: US 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
 Sep 23 2014 - Real Estate Transactions Worth over QR660 Million Last WeekQatar News Agency
(MENAFN - QNA) Real estate transactions between September 14 and 18 for the real estate sales contracts registered at the Ministry of justice are worth QR660,849,178, the real estate registration ...

 Sep 23 2014 - White House Intruder Raises Questions of Failures of US Secret ServiceQatar News Agency
(MENAFN - QNA) Questions are being raised in the US Congress and in the public about the failures of the US Secret Service to stop a man carrying a concealed knife from climbing over a fence and ...

 Sep 23 2014 - Saudi Arabia Seeks UN Resolution to End Israeli OccupationQatar News Agency
(MENAFN - QNA) The Kingdom of Saudi Arabia vowed today that it's time to seek a UN Security Council resolution to set a timetable to end the Israeli occupation of Palestinian territories and achieve ...

 Sep 23 2014 - Qatar to Host 13th UN Congress on Crime Prevention and Criminal JusticeQatar News Agency
(MENAFN - QNA) The government of the State of Qatar and the United Nations Office on Drugs and Crime (UNODC) signed here Monday an agreement for hosting the 13th UN Congress on Crime Prevention and ...

 Sep 23 2014 - Vice Chairman of Hungarian Investment Promotion Agency Meets Qatari AmbassadorQatar News Agency
(MENAFN - QNA) Vice Chairman of Hungarian Investment Promotion Agency Bettina Hruby met with HE Qatar's Ambassador to Hungary Abdullah Hussein Al Jaber. During the meeting, they reviewed bilateral ...

 Sep 23 2014 - French Premier Says 'No Negotiation' With AbductorsQatar News Agency
(MENAFN - QNA) French Prime Minister Manuel Valls Tuesday said there would be "no discussion, no negotiation" with an Algerian group that has abducted a French citizen. The Prime Minister told ...

 Sep 23 2014 - Turkey to expand trade with SharjahMENAFN
(MENAFN) A delegation of Independent Industrialists and Businessmen Association (MUSIAD) from Turkey held a meeting with the director of Hamiryah Free Zone Authority (HFZA) and Sharjah Airport Free ...

 Sep 23 2014 - Lebanese Soldier Killed in Gunfire Attack in TripoliQatar News Agency
(MENAFN - QNA) A Lebanese soldier was killed and two other soldiers wounded on Tuesday morning when an unidentified car opened fire on the Lebanese Army's barracks in al-Beddawi near the northern ...

 Sep 23 2014 - Saudi flag unfurled on world's tallest flagpoleArab News
(MENAFN - Arab News) Jeddah municipality will today hoist a giant Saudi flag onto the world's tallest flagpole to mark the country's 84th National Day.The pole is 170 meters high while the flag is ...

 Sep 23 2014 - Killing of Saudi hostage taker under probeArab News
(MENAFN - Arab News) The Saudi Embassy in Kuwait City said Monday that it was following up the killing of a Saudi citizen who had taken his family hostage at gun point in an exchange of fire with ...

more...


 






Google

 
 

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help