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الثلاثاء, 21 نوفمبر 2017 07:52 ص
Today….Cairo Development and Investment calls for the company’s EGM Invitations

Company Name: Cairo Development and Investment
ISIN Code: EGS70021C018
Reuters Code : CIRF.CA
Content : A release was sent concerning the EGM invitation that will be held on 21/11/2017.


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الثلاثاء, 21 نوفمبر 2017 07:51 ص
Today… Distribution of coupon no.(9) for EGYPTIAN TREASURY BONDS 2020- ISSUE 21 may 2013

Company Name: EGYPTIAN TREASURY BONDS 2020- ISSUE 21 may 2013
Maturity Date: 20/11/2017
Pay date: 21/11/2017
Coupon Number: 9
Currency: LE
Issue Number: 1
Corporate action type: Cash Dividends: value paid is 0.0795 LE per share


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الثلاثاء, 21 نوفمبر 2017 07:46 ص
ADX, DFM fall over 1% as uncertainty remains

The main equity indices in Abu Dhabi and Dubai fell more than a per cent on Sunday as economic and geopolitical uncertainty continued to cast a dark shadow on investor sentiment and on liquidity in the region.

The Dubai Financial Market (DFM) index fell 1.07 per cent to reach 3,423.12 as most stocks ended in the red, while the Abu Dhabi Securities Exchange (ADX) general index fell 1.12 per cent to 4,279.31.

Marwan Haddad, lead portfolio manager at Al Mal Capital, pointed that a lot of the selling pressure on Sunday came from GCC investors who are likely concerned about the short-term impact of Saudi Arabia’s anti-corruption crackdown.

“Sentiment is very weak, and investors are nervous after what happened in Saudi Arabia. Liquidity is weak as well, and there are more sellers than buyers. I think the market will probably take another week or two to find a new base,” he said.

Earlier this month, Saudi Arabian authorities arrested a number of princes and former ministers on corruption charges, following the establishment of a supreme committee to fight corruption in public finance.

“Over the medium term, it’s a very positive story when you’re cracking down on corruption. We should also expect a decent expansionary budget from Saudi Arabia, and that should help the market,” Haddad said.

Other stock markets in the Gulf also ended the day in the red, with Saudi Arabia’s Tadawul index 0.6 per cent lower at 6,872.16, and Kuwait’s main index down 0.74 per cent to 6,262.39. In company-specific movement in the UAE, GFH Financial Group was the most actively traded stock on DFM, accounting for 31 per cent of the Dh444 million traded in the market. Its share prices inched down 0.61 per cent.

Drake and Scull International ended flat, while Emaar Properties and Dubai Islamic Bank fell 1.15 per cent and 0.66 per cent.

Al Mal’s Haddad said while geopolitical news is expected to impact investor sentiment going forward, fundamentals in the market were strong, and valuations are attractive. He described the UAE’s equity market as being almost the cheapest in the region in terms of valuations, with companies such as Emaar, DP World, and Aramex having attractive valuations.

In Abu Dhabi where stocks were also mostly in the red. Etisalat was the most actively traded stock in the market, with its share prices falling. Aldar Properties slid 1.35 per cent, as First Abu Dhabi Bank fell 0.49 per cent, and Abu Dhabi Commercial Bank ended flat at Dh7.1. Meanwhile, Dana Gas’s share prices lost 4.2 per cent after the English High Court on Friday ruled against the company and in favour of holders of the company’s bonds.

Gulf news/Gulf base

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الثلاثاء, 21 نوفمبر 2017 07:45 ص
CBB moves to lift restriction on trading in real estate invest. trust

The Central Bank of Bahrain amended regulations that pave the way for retail investors to invest in Bahrain-domiciled real estate investment trusts (Reit) as part of the kingdom's commitment to boost the Reit industry by making the investment vehicle more liquid.

The removal of restrictions on who can invest in real estate investment trusts will now permit all types of investors including high net worth individuals, institutional and retail investors. Reits are traded on exchanges like stocks but the underlying assets are only real estate from which a rental dividend is distributed to shareholders.

"Overall, Reits have become an important addition to the real estate investment landscape in the last few years for both retail investors and the large institutional investors; reflecting the increased growth, maturity, transparency and sophistication of the local, regional and global real estate markets," said Abdul Rahman Al Baker, executive director of financial institutions supervision at the kingdom's regulator.

Reits, which typically invest in commercial real estate, have popped up across the region in recent years to allow investors to tap the real estate market without having to buy real estate directly.

Although listed reits have only existed in the UAE since the launch of Emirates Reit on Nasdaq Dubai in 2014, institutions have been setting up unlisted collective investment vehicles since the mid-2000s.

These include the US$200 million Arabian Real Estate Investment Trust, set up in 2006 by HSBC and Daman, the original Emirates Reit vehicle which was established in 2010 by Dubai Islamic Bank and Dubai Properties and the original ENBD Reit, which was set up as a Jersey- based open-ended real estate fund in 2005.

The news comes as more and more reits are expected to start trading in the UAE and across the Arabian Gulf. Saudi Arabia approved reit listing rules last year to bolster its housing market and currently has two listed. In Bahrain, the country’s first Sharia-compliant retail reit was listed in January on the local bourse.

In April, the fund manager behind ENBD Reit’s main rival, Emirates Reit, announced it had teamed up with Al Hamra Real Estate Development and National Bonds to create the UAE’s first residential real estate trust. The fund manager is also looking to set up reits based around hotels, logistics and sporting assets.

The National/Gulf base

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الثلاثاء, 21 نوفمبر 2017 07:45 ص
Muscat bourse falls on weak sentiment

Shares on the Muscat bourse reacted on weak investor sentiment. MSM30 Index ended on a negative note to close at 5,085.24 points, down by 0.24 per cent. The MSM Sharia Index ended at 725.12 points, down by 0.17 per cent. Oman Takaful was the most active in terms of volume as well as turnover. The top gainer was Oredoo Oman, up by 0.37 per cent, while the top loser was Al Maha Petroleum, with a loss of 4.47 per cent.

A total number of 437 trades were executed on Monday, generating a turnover of OMR2.2 million with 11.2 million shares changing hands. Out of 33 traded securities, 1 advanced, 14 declined, and 18 remained unchanged. Omani investors were net buyers for OMR221,000 while regional investors were net sellers for OMR194,000 followed by foreign investors for OMR27,000 worth of shares.

Financial Index was down by 0.22 per cent to close at 7,359.38 points. Oman Qatar Insurance, Oman Takaful, Al Ahlia Insurance and Al Madina Investment declined by 3.33 per cent, 3.03 per cent, 1.94 per cent and 1.75 per cent, respectively.

Industry Index ended at 6,727.31 points, down by 0.11 per cent. Galfar Engineering was the only loser in the sector and was down by 1.23 per cent to close at OMR0.080.

Services Index was down by 0.52 per cent to close at 2,567.46 points. Oreedoo Oman was the only gainer and was up by 0.37 per cent to close at OMR0.542. Al Maha Petroleum, Omantel, OIFC and Port Services Corp declined by 4.47 per cent, 1.60 per cent, 0.72 per cent and 0.56 per cent, respectively.

Times of Oman/Gulf base

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أرفض الوهم العددي للسياح والمقياس الحقيقي هو الدخل

قال المهندس أحمد بلبع رئيس لجنة السياحة بجمعية رجال الأعمال المصريين أن زيادة نسب إشغالات الفنادق في المدن السياحية يواكبها تدن شديد في الأسعار