Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar bourse index gains 91.35 points  Join our daily free Newsletter

MENAFN - The Peninsula - 13/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) Qatar Exchange continued its upswing trend yesterday by adding 91.35 points (0.80 percent) to advance to 11,452.97 points from its previous closing of 11,361.62 points.



The volume of the shares traded fell to 17,710,211 from 19,697,807 on the last day and the value of shares increased to QR792,313,124.11 from QR774,811,214.06.



Among the top gainers were Qatar National Bank, which was up 1.57 percent to QR188, Commercial Bank of Qatar gained 2.29 percent to QR71.60, Qatar Islamic Bank added 1.02 percent to QR79.40 and Masraf al Rayan up by 2.70 percent to QR39.95



The banking and financial sector index added 1.48 percent, while consumer goods and services sector index up 4.60 percent. The industrial sector lost 0.13 percent while insurance sector gained 0.40 percent.



Meanwhile, the regional markets registered a mixed response yesterday. Egypt's bourse rose as the country's biggest listed bank posted strong fourth-quarter earnings, while markets in the United Arab Emirates weakened after a disappointing earnings report from Abu Dhabi property developer Aldar



Egypt's index added one percent to 7,571 points after Commercial International Bank (CIB) posted a 29 percent rise in quarterly net profit to 757m Egyptian pounds (109m). The bank's stock rose 1.9 percent.



The index is "heading towards 7,600 points after CIB reported strong Q4 earnings numbers," said Islam Batrawy, Cairo-based head of MENA equity sales at NBK Capital. "CIB was the major contributor to the upward move




In the UAE, however, both bourses closed lower after Aldar Properties disappointed some investors despite reporting higher net profit. Its stock fell 4.2 percent while Abu Dhabi's index was down 0.1 percent.



"I think disappointment could be with the dividend," said Sanyalak Manibhandu, senior analyst at NBAD Securities



"Ahead of the announcement, I think a lot of investors were expecting Aldar to pay at least 10 fils (per share worth Dh1). They paid seven." Last year, Aldar paid a cash dividend of six percent



Brokerage Arqaam Capital also pointed to delays in handing over some projects which led to lower-than-expected revenues. It described Aldar's recurring income as "uninspiring".



That may have prompted some retail investors to book profits and sell UAE small-cap stocks along with those in the property and related sectors



Dubai-based builder Arabtec shed 3.3 percent while shares in Emaar Properties edged down 0.4 percent. Dubai's index fell 0.4 percent, ending a seven-session upward streak



Oman bourse gained 0.2 percent, while Saudi Arabia's index rose 0.6 percent, largely lifted by telecommunications firm Etihad Etisalat (Mobily) , which gained 2.5 percent in thin trading



Mobily made no major announcements on Wednesday. Last month, it said it would start leasing its mobile phone network to a new operator to launch a rival service in the first quarter of this year. It also beat analysts' forecast with a 8.6 percent increase in fourth-quarter profit


 


The Peninsula




  MENA News Headlines
 May 24 2016 - Hezaha wa Safer: the first Arabic online travelling channelDaily News Egypt
(MENAFN - Daily News Egypt) For many people, travelling is a long-awaited dream that may never come true due to the high expenses required for transportation, hotels, and other trip necessities.Yara ...

 May 24 2016 - The Wonders of Science: AUC's Fun Lab mixes education with excitementDaily News Egypt
(MENAFN - Daily News Egypt) In a country where studying science is a trial for many students, the American University in Cairo (AUC) decided to spread science literacy and raise scientific awareness ...

 May 24 2016 - Sales of Geely Emgrand 7 register EGP 124mDaily News Egypt
(MENAFN - Daily News Egypt) Geely Emgrand 7 kept its top ranking among Chinese cars during the first quarter of 2016. The carmaker sold 1,225 cars worth EGP 124m. Chery Tiggo came in second with ...

 May 24 2016 - Sales of Geely Emgrand 7 register EGP 124mDaily News Egypt
(MENAFN - Daily News Egypt) Geely Emgrand 7 kept its top ranking among Chinese cars during the first quarter of 2016. The carmaker sold 1,225 cars worth EGP 124m. Chery Tiggo came in second with ...

 May 24 2016 - Hyundai's Africa, Middle East region appoints Mike Song as new headDaily News Egypt
(MENAFN - Daily News Egypt) Hyundai has appointed Mike Song as its new head of Africa and Middle East Region.Song assumes his duties at the regional headquarters of the company in Dubai as of this ...

 May 24 2016 - Passenger car sales fall 31% in Q1 quarter of 2016Daily News Egypt
(MENAFN - Daily News Egypt) With great difficulty, the automotive market managed to sell a total of 33,381 cars worth EGP 6.8bn during the first quarter of this year. This is a 31.2% drop in a ...

 May 24 2016 - MNHD registers 176% increase in revenues with 7,600 units under developmentDaily News Egypt
(MENAFN - Daily News Egypt) Madinet Nasr Housing and Development's (MNHD) revenues registered EGP 169.7m during the first quarter (Q1) of 2016, a 176% increase in a year-over-year comparison, ...

 May 24 2016 - Egypt Vision 2030 begins to revive tourism industry, renovate infrastructure: planning ministerDaily News Egypt
(MENAFN - Daily News Egypt) In the framework of Egypt's aims to renovate and develop its various economic sectors, with a focus on reviving tourism, implementation of its ambitious Egypt Vision 2030 ...

 May 24 2016 - Banks in EGX exceed market's expectations during Q1 of 2016: BeltoneDaily News Egypt
(MENAFN - Daily News Egypt) The performance of banks registered in the Egyptian Exchange (EGX) during the first quarter of 2016 was higher than the market's expectations, as a result of controlling ...

 May 24 2016 - El-Salawy appointed as CEO of ABK EgyptDaily News Egypt
(MENAFN - Daily News Egypt) Al-Ahli Bank of Kuwait (ABK) in Egypt has officially appointed Khaled El-Salawy as its chief executive officer.El-Salawy was the deputy chief executive officer at the ...

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

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