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 26 2015 - Rolls-Royce Omani sales grow 27 percentMENAFN
(MENAFN) Rolls-Royce, through its sole authorized dealership Al Jenaibi International Automobiles, said that it has registered a 27 percent increase in the sales of its cars in the Sultanate of Oman ...

 Jan 26 2015 - Emirates Reit's 2014 profits improve due to higher rent incomeMENAFN
(MENAFN) Dubai-based Emirates Reit posted an increase of 39 percent in 2014 net profit to reach USD48.56 from USD34.85 million in the previous year due to increased rental income, Emirates 24/7 ...

 Jan 26 2015 - UAE's Select acquires Radisson hotel in UKMENAFN
(MENAFN) Royal Gulf Ltd, part of Select Group, announced that it has acquired the Radisson Blu Hotel in Birmingham, England's second largest city, which has been managed by Carlson Rezidor Hotel ...

 Jan 26 2015 - Dubai real estate market posts strong growth in 2014MENAFN
(MENAFN) MPM Properties said in a new report that despite 2014 being a year of further growth for Dubai real estate market, the last quarter of the year witnessed a decline in values of the deals in ...

 Jan 26 2015 - Qatar's real estate deals hit USD988mMENAFN
(MENAFN) Qatar's Central Bank (QCB) said that the country's real estate market profits have eased down in December compared to the previous month, with the real estate index declining to 255.6 points ...

 Jan 26 2015 - UAE's DSI subsidiary wins USD50m contractMENAFN
(MENAFN) Drake & Scull International (DSI) said that its subsidiary Gulf Technical Construction Company (GTCC) has won a USD50 million contract from Reef Residence Real Estate for the Al Reef ...

 Jan 26 2015 - Oman's inflation eases to 0.8 percent in DecemberMENAFN
(MENAFN) The Omani National Centre for Statistics and Information (NCSI) said that Oman's annual inflation rate, as measured by the consumer price index (CPI), declined to 0.8 per cent in December, ...

 Jan 26 2015 - Qatar's QEWC net profit up 9.3 percent in Q4MENAFN
(MENAFN) Qatar Electricity and Water Co (QEWC), the Gulf state's monopoly utility firm, said that it has recorded a 9.3 percent increase in its net profit during the October-December period of 2014, ...

 Jan 26 2015 - QEWC net profit up 11% to QR1.53bnGulf Times
(MENAFN - Gulf Times) Qatar Electricity & Water Company (QEWC) has made a net profit of QR1.53bn last year, up 11% on the previous year.The results were announced by the company following a meeting ...

 Jan 26 2015 - Marsa Malaz Kempinski, Qatar's new ultra-luxury resort, unveiledGulf Times
(MENAFN - Gulf Times) An impressive blend of Arabian elegance and European grandeur is one of the unique highlights of Marsa Malaz Kempinski, The Pearl € Doha, Qatar's new ultra-luxury resort, which ...

more...


 






Google

Internatinal Property Show

 
 

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