22/09/2014
Cairo bombings stop "Egyptian" recovery
Profit-taking pressure leads UAE and Qatar stocks to decline
UAE stock markets fell and Qatar yesterday after the strong gains achieved by the exceptional inflows in the previous session, while the Egyptian stock market fell under the weight of the bombings that took place near the Ministry of Foreign Affairs, amid selling pressure from foreign institutions and individuals Arabs and foreigners. With all of the market bucked the Kuwaiti and Bahraini trend and achieved gains.
In Dubai, the general index down 0.2 per cent with low shares of Emirates NBD 0.5 per cent and Dubai Islamic Bank 0.6 per cent.
The market has risen 2.3 per cent last Thursday amid a mass turnout of foreign funds such as amendments to the FTSE Global apply from today, September 22 (September) month. Most of the demand and focus on "DEYAAR" and "Union Properties" which index for the first time. And maintained the momentum of arrows today and have risen 3.1 per cent and 1.4 per cent respectively, but net foreign purchases came, according to stock exchange data much less about him last Thursday.
In the meantime, fell another will enter the index is Abu Dhabi Commercial Bank, after rising in earlier 6.8 per cent. The stock fell 3.3 percent, while Abu Dhabi's index fell 1.1 per cent.
In Doha, the market index fell 1.5 per cent after rising to its highest level ever when he scored 14351 points in the previous session, also thanks to the amendments FTSE. Shares of Industries Qatar 1.4 per cent after the company said it froze Shale Petrochemical project, which was to cost billions of dollars and it was considering an alternative plan will generate better returns.
In Egypt, the abandoned market gains morning under the weight of the bombings that took place near the Ministry of Foreign Affairs, amid selling pressure from foreign institutions and individuals Arabs and foreigners, rather than the main index "EGX 30" gains morning to close retreated by 0.11 percent equivalent to 10.53 points to close at 9718.57 points.
The benchmark stock of small and medium-sized "Eiji X 70" including more frequent rate of 0.63 per cent to 627.91 points. The index extended losses to the broader "EGX 100" including dropping 0.37 per cent to 1148.27 points. And lost market capitalization of the listed stocks about 1.991 billion pounds to 525.21 billion pounds compared to 527.201 billion pounds by the end of trading last week.
The decline in the Egyptian Stock Exchange yesterday after it closed at its highest level in six years 9729 points the previous session. But shares "Nasr City Housing and Development", which rose by the maximum one-day 10 per cent last Thursday and continued its strong performance, rose 1.6 per cent. The company said last week it is targeting sales of one billion pounds (280 million dollars) from its crown Sultan which exceeds previous expectations of analysts.
In Kuwait, the price index ended trading yesterday at a rise of 0.18 percent the previous close at 7612.21 points, "the highest level in more than four months" recording gains of about 13.85 points, to achieve this height ninth straight and 12 in the month of 14 session.
In Bahrain, the index rose 0.2 per cent to 1,469 points, the MSM index fell 0.1 per cent to 7,500 points.
