16/10/2014
Disappointing Results in Kuwait and Muscat
Gulf markets continue loosing points with «global» falling
Most stock markets in the Middle East continued to decline today with continued pressure on global equities, in addition to the results of the work of the companies disappointing quarterly Outlook pushed stock exchanges of the Sultanate of Oman and Kuwait. GCC stock saw wave selling fairly random in previous meetings, but the many oil-related shares came under more pressure today, with the low price of raw measurement world Brent to its lowest level in 47 months before recovering slightly to around 84 dollars per barrel. Oil prices are not a disaster for the Gulf economies with very low debt levels and large financial reserves and are able to continue Government spending. Dubai financial market index rose in early trading after the emergence of signs of stabilization in US stocks and Asian but not to back down after European stocks opened low and closed down 1.7 percent with most of the stocks on the list. And Dubai Islamic Bank arrow had the biggest pressure on the index to decline 3.6 percent.
The General index fell to Abu Dhabi 0.2 per cent following the footsteps of European stocks and sapping gains in early trading. Qatar stock exchange fell 1.4 percent while many perceive it as less than GCC stock markets vulnerable to the risks of the global slowdown, the Government is willing to support the companies listed if you experience difficulties. International Services Gulf Shares fell by 3.1 percent and shares of Qatar industries 1.4 per cent, were among the stocks that were the biggest pressure on the index. The index has increased for Egyptian stock exchange 0.2 per cent. Ezz was among the stocks that were in support of the cursor with his 2 per cent, after the Egyptian Government imposed temporary tariffs to protect domestic producers of rebar from less expensive foreign imports.
Kuwait index fell 0.5 percent. And Gulf Finance House shares dominated trading, falling to 6.4 percent after they said Fitch Ratings on Tuesday, Gulf Finance House profits remain weak and volatile, and it is unlikely that substantial and sustained improvement until the restructuring of the balance sheet and its business model. In the Sultanate of Oman MSM index securities 0.9 percent under pressure from the weak quarterly results. And Raysut cement fell down to 1.6 percent after the company's earnings came in below analysts' expectations, though it said today about the increase of 17.8 percent in net profit for the third quarter of the year after tax.
