21/10/2014
Improved credit rating raises the "Egyptian"
Gulf markets change direction and go down after the «European» decline
Most Gulf stock markets retreated yesterday with the recovery of the long-short global equity, rising stock market indices in the UAE and Qatar in early trading but quickly squandered their gains after European stock markets slumped again. The Dubai index closed climbing 2.5 percent in the early trading session-low 1 per cent but its direction following a drop index euro forest 300 major European equities in early trading. And also the Abu Dhabi and Qatar indicator closed low 1.5 and 1.4 per cent respectively after a breakthrough on the rise. A 'Qatar' industry producing petrochemicals Rose 0.2 per cent, and was among the few stocks made gains on the Stock Exchange after the company announced yesterday that it achieved a 5 per cent increase in net profit for the third quarter of the year. Net profit of the company giant 1.86 billion reais ($ 115 million) in the third quarter. The analysts had expected in the poll for Reuters net profit of 1.66 billion riyals in the Mediterranean.
In Kuwait ended the major indicators of the Kuwait stock exchange session yesterday on variation, with price index decline of 0.03 percent to close at 7385.27 points, with slight losses of around 2.58 points. The Bahrain General index continued its decline for third straight session; the index fell by 0.09 percent at 1445.48 points. In the Muscat market index retreated 0.66 percent, the equivalent of 45.64 Bhd points near the level ' 6900 ' point to close at 6901.17 points, and the lost market capitalization of about 46 million shares. Egyptian stock exchange bucked the trend with the Saudi stock exchange, where the main index of the Egyptian stock exchange 0.1 per cent after Moody's changed its rating Outlook for the country to stable from negative.
