07/04/2015
"Egyptian" continues to decline amid profit-taking intensive operations
Gulf bourses Contrast performance.. and «real Estate » arise «Dubai» shares by 1.2%
Performance of the GCC stock markets varied during trading yesterday.While DME stepped led by the real estate sector stocks, in contrast, intensive profit continue taking by weak economic data in the pressure on the Egyptian Stock Exchange.
The Dubai Financial Market Index increased 1.2 percent, fueled partly by weak US data on jobs in the last week, and apparently reduces the prospect of higher interest rates in the United States soon.
It is likely that the economies of the Gulf are going on the path of monetary policy in the United States due to linking their currencies to the dollar, the longer the delay in monetary tightening a positive factor for real estate companies that are affected by interest rates and a significant weight in Dubai.
Union Properties 'shares Rose 7.9 per cent and " Deyaar " share by 4.4 per cent," Emaar Properties' 1.7 per cent.
He added, "DAMAC Properties' shares rose by 6.6 percent, after rising 8 per cent yesterday after the company said it was considering buying a stake in the project to build a mixed-use development of 50 stores in central London building, its first investment in the British property market.
And Abu Dhabi's index rose 0.3 percent, the Kuwait market closed higher in the price index by 6.8 points, reaching the level of 6213 points, while the weighted indexes fell and (Kuwait 15) 1.8 and 4.2 points respectively.
Qatar market index Scored down by 0.3 per cent to 11732 points.
Oman's index rose by 0.2 per cent, as the Bahrain market index rose 0.6 per cent.
Among the reasons for the decline the disappointing economic data, where yesterday the first survey showed that the private non-oil sector shrank in Egypt in March (March) last year for the third consecutive month but at a slower pace than the previous month, recording a decline in production and employment.
The main index of the Egyptian Stock Exchange 1.2 percent after losing 3.2 percent yesterday, with continued profit taking intensive operations began three weeks ago.
The index fell 15 per cent since reached its highest level in years last February, falling 4.7 per cent since the beginning of the year, although it is still up 25 per cent from the end of 2013.
Shares of "OT" was the most actively traded in the market and technology yesterday, after shareholders approved the company's proposals, including plans to expand into new sectors such as electricity, transportation and logistics.The stock closed flat at 1.04 pounds.
