10/03/2015
"Egyptian" continues to climb after strong economic data
Limited movements of the Gulf bourses due to uncertainty about oil prices
Gulf stock markets saw limited movement due to the uncertainty about oil prices, despite the rise of Orascom Construction when you insert it in Dubai, while the Egyptian Stock Exchange continued to rise after strong economic data.
The Dubai Financial Market Index increased 0.3 percent and the share of Dubai Islamic Bank in support of the index his rise 0.7 per cent on the last day which carries a dividend of AED 0.40 President.
At the NASDAQ Dubai attention was focused on the President inclusion "Orascom" Egyptian establishment which increased its share from the initial public offering price of $ 14.25, the stock closed at $ 14.69, after fluctuating between 14.40 and $ 14.75.
The chief executive's "OCI" for the establishment, the company shares will be included in Cairo today or tomorrow.
Market General Index of Abu Dhabi fell 0.3 percent and the Union National Bank fell 1.9 per cent after the expiration of the right to dividends.
And Qatar's index rose 0.8 per cent to 12236 points, extending recovery from falling to its lowest level in a month at 12076 points scored at the end of last week.And trading volume increased significantly.
Shares of Barwa Real Estate 1 per cent after the company announced an increase in its net profit for the fourth quarter of last year, more than lesbian and improved dividend for the whole year.
And recommended that the Board of Management Barwa dividend cash dividend of 2.2 riyals per share, up from two riyals per share, in 2013.
The index rose president of the Egyptian Stock Exchange 0.8 per cent, its highest close in two weeks at 9714 points, continuing to benefit from strong quarterly data on gross domestic product announced at the end of last week.The "Oriental Weavers" Carpet Manufacturing share a major supporter of the index his rise 7.8 percent to 12.50 pounds.The share price has risen by about lesbian last year and continued to rise in January (last January) after falling oil prices, which is expected to lead to a decline in raw material prices.
Then the stock fell after that about 26 per cent, with the stability of oil prices and as investors sell it for a profit, which made him fall below the target by most brokers price.Analysts predicted that the average share price of "Oriental Weavers" up to 14.70 pounds.
Shares in Sixth of October Development and Investment "Sodic" Real Estate Development 3.8 per cent, extending gains since the company announced last week its transformation to achieve quarterly profit.Commenting on these results confirmed, "NBK Capital" on its assessment of the arrow "Sodic" when a recommendation to buy with estimates of the rise of a possible 29 per cent.
