08/09/2014
Egypt's index rise to 9723 points, the highest level in 6 years
Dubai bourse decline with the sale in shares in preparation for the launch of Emaar Malls
Dubai stocks perform less than other stock markets in the region today, as investors started to sell some of their SDR holdings shares to provide cash to participate in the planned initial public offering of shares ' reconstruction of the mules ', a unit of Emaar malls, while most other exchanges. The Dubai index fell 1.7 per cent, with declining shares ' Emaar Properties ' 1.3 per cent. Emaar announced today for further details about the IPO of shares ' mules ' ages, the net asset value of its malls 33.2 billion dirhams (nine billion dollars). And will be open for subscription in placing on September 14.
Al Aldow said conservative investor National Manager in Abu Dhabi ' I think in general its willingness to participate in the initial public offering of shares ' ages Moules ', there is a pressure on the market to exit (other stocks) and subtraction '. The subtraction of the biggest will be selling in the Middle East since 2008; Emaar said it will allocate part of the version for retail investors who dominate the DFM. Qatar exchange index dipped 0.7 percent after having touched an all-time high during the session at 14053 points, turned the arrows that led up to the greatest pressure on the index. Qatar national Bank shares fell 1.8 percent, Qatar industries ' shares ' of 2.1 per cent. And Abu Dhabi general index 0.4 per cent. And first Gulf Bank rose 1.9 percent, shares of Emirates Telecommunications Corporation (Etisalat) 0.4 per cent and Abu Dhabi Commercial Bank shares 1.2 percent, and the three were the main booster for the pointer.
Abu Dhabi national energy (energy) Shares fell 2.5 per cent, Sources for ' Reuters ' last Thursday said that the company might sell assets this year, and that it had appointed two international consultants to advice on a possible sale. The main index climbed for the Egyptian stock exchange 0.8 per cent to 9723 points, marking the highest close in six years, and the shares ' Ezz ' and TMG's key supporters of the index rise 4.9 and 1.6 per cent respectively.
The Egyptian daily Al-Ahram said the administrative court last week suspended the implementation of the decision to cancel the land area of three million square meters of a TMG in Ain El Sokhna resort by the Red Sea. The same newspaper also said that another court in Egypt on Thursday suspended implementation fined Ahmed Ezz, the main shareholder and former Chairman, Ezz accused of monopolistic practices of 100 million Egyptian pounds ($ 14 million). The main index has increased for the Saudi market 0.6 per cent to 11136 points, marking the highest close in six years. The shares of Saudi basic industries Corporation (SABIC) booster the main index climbing 1.2 percent.
