19/12/2013
Egyptian market continues to gain
«Emar» raise Dubai index to the highest level in 5 years
DFM share rose yesterday registering their highest in five years, supported by gains in shares of Emaar's leadership after the company's Board of Directors approved the conversion of bonds into shares but the number of new shares less than expected. Emaar said it has approved requests for bond holders to convert them into shares; it would be a new version of 18.7 million shares, which is a very small part of the company's existing stock of 6.09 billion shares. Emaar shares rose 2.3 percent to 7.25 dirhams (1.97 dollars) position down two and continued support to the market today.
And other real estate firms jumped in Dubai with the rise of stock Deyaar real estate Union 6.6 and 6.5 per cent respectively. Dubai financial market index rose 2 percent, marking its highest level in five years to reach its gains since the beginning of the year to 97.9 per cent. The General index slipped to Abu Dhabi 0.2% the highest in 36 months record set on Tuesday. In the Sultanate of Oman rose Muscat Securities market 0.3 per cent to its highest level in 16 weeks with investors building positions on the basis of the results of the year-end cash dividends while banks led the gains of BankMuscat shares and National Bank of Oman 1.2 percent each.
Kanaga sander Gulf Research Director for capital markets said ' working to increase the relative weight in industrial goods capable of increasing the rates of utilization of production capacity. Rates of banks and telecommunication companies will pay good dividends. The BBC announced Monday they will dig 300 wells to extract gas in the Omani desert over the next 15 years under a 16-billion-dollar project could give a major boost to the economy of size, about $ 80 billion. Sander said that banks and construction companies would benefit from the project in the long term. Kuwait index fell 0.4 percent, continuing its decline to the lowest close since September 11. Qatar Bourse closed on public holiday and will resume work Sunday morning, 22 December. In Cairo, Egyptian shares at the end of the session, trading yesterday to their highest levels in nearly three years to reach the standard index to 6723.64 points.
The index rose to egX ' hotfile x 30 ', which measures the performance of 30 market activities slightly by 0.05 percent to close at 6723.64 points, surpassing the level of closed on 24 January 2011 the time level of 6723.17 points the day before the eruption of revolutionizing the 25th of the same month. Saw trading yesterday trading session 202 million shares through the process of implementing a value about 462.4 million pounds. While there was little change on the index ' x 70 ' to Eiji shares of small and medium-sized enterprises, to 535.55 points index ' hotfile x 100 ' broader 0.05 percent, ending trading at 908.18 points.
