02/03/2015
"Egyptian" retreat after the postponement of elections
Gulf markets is mixed amid low trading volumes
Gulf stock markets varied yesterday, with low trading volumes, while the Egyptian Stock Exchange fell after a court ruling could lead to the postponement of the parliamentary elections that were scheduled for this month.
And Dubai's index fell 1 per cent decline with Arabtec to build the most heavily traded 3.2 percent after rising 2.6 percent last week.The "MSCI" and "Financial Times" up arrow weight on Mahrathma Consequently amended inert fund allocations at the end of last week.
Aramex shares fell Logistics Services 2.1 per cent before a meeting of the Board of Directors, which will be discussed tomorrow dividend for 2014.
And general index of the Abu Dhabi increased 0.1 per cent with shares rise Emirates Telecommunications Corporation (Etisalat), 1.2 per cent, extending gains since the company announced the results of its operations for the fourth quarter of 2014 last week.
The Main index of the Egyptian Stock Exchange 0.5 per cent after the Supreme Committee for Elections has said it is working on a new timetable for the parliamentary elections after the long-awaited decision by the Supreme Constitutional Court declared unconstitutional an article in the electoral constituencies law.
Nevertheless, most of the real estate stocks rose after a newspaper "Daily News IGBT" reported that the National Bank of Egypt has to extend housing loans within the framework of the Central Bank of the housing program for low-income people.
Shares of Medinet Nasr Housing and Development 1.9 per cent share and Palm Hills Developments 2.3 percent and Talaat Moustafa Group Real Estate Development 1.6 per cent.
