09/02/2014
Profit-taking in «Bahraini» and «Kuwaiti»
Gulf markets interact with the results of companies away from the vagaries of «global»
Gulf markets ignored last week emerging markets losses and gains, positive news for listed companies, both in terms of new contracts or high rankings for leading Emaar UAE market, or to start the announcement of the results of the financial companies and distribution, with some markets reacted positively, with other season awaited announcements. In the UAE the positive news led about some of the leading companies in the Dubai market shares to rise during last week's 4.27 percent, continuing the market issued by the region's markets this year in terms of earnings, the General at 3931.44 point just shy of penetrating level of 4,000 points
And Emaar shares led the market this weekend market, the 'S & P Agency lifted Word Press ' long-term credit rating for the company, Emaar Properties, a leading property developer, from BB to BBB-with stable estimate. Real estate sector index closed up 7.92 percent with shares ' arabtec ' 15.18 per cent and Emaar shares 3.75 per cent, of which ' arabtec holding ' announced last week signed a memorandum of understanding, under which selection ' arabtec construction ' affiliate by Wells real estate company specialized in the real estate sector, ' investment ' wells, to design and create 37 Tower in Abu Dhabi and Dubai, with a total value of $ 22.4 billion
And in Abu Dhabi during the pointer last week achieved the gains exceeded 1 per cent at 4721.72 points, the highest level for the index in nearly five years, with the support of first Gulf Bank, after the Bank announced the best quarterly profit in its history in the fourth quarter of 2013, the Bank achieved a net profit amounted to 4.77 billion, up 15 percent over the previous year. The banking sector index closed up 1.59 per cent with bank stocks rise 4 percent, Abu Dhabi Islamic Bank 9.71 percent.
Kuwaiti shares rose last week by about 0.98 per cent, the index closed at 9,334 points price rose most market sectors, the market situation of expectation prevailed for business results companies, amid expectations that this week's market is seeing more profit-taking and selling pressure on stocks traded, especially with the growing frequency of disclosure of listed companies for distribution to the shareholders of 2013. And in the week market index ended up 0.76 percent at 1304.18 points, surpassing the 13,000-point barrier, with the support of the hotel sector, which rose by 4.45 percent, services by 1.97 percent, during the week, investors trading shares of 20 companies, the shares of nine companies, while the stocks of eight companies, and keep the rest of the stock continued. Specialists expect to see the market this week for a profit
In Doha, the banking sector led the market's rise last week, as the market index rose 0.33 percent to close at 11192.2 points with a decline in market liquidity, analysts said the market managed to end the period of profit-taking and preparing for new waves of Ascension led the leading shares in the banking sector, with the public and private sectors during market highs last week by 2.95 per cent for banks, and 2.08 percent. In the Muscat market over the past week made up 0.27 percent for market index closed at 7106.50 points, surpassing the level of 7100 points, considered by analysts a key support will lead the market higher this week, amid signs the market's correction over the past two weeks.
