09/09/2014
Egyptian Stock Exchange main index fell 0.2%
Recovery of stock exchanges in Dubai and Qatar and contrast in the other stock markets
Dubai and Qatar bourses continued their rise on Friday after making limited gains in the previous session, while most of the other stock markets in the region a few movements in the absence of fresh incentives. Dubai financial market index rose 1.1 percent to 5091 points after tumbling for a short time without the important psychological level of 5,000 points earlier in the session. Emaar Properties was the biggest real estate development company listed on the Emirate's support for the index climbing up 1.8 per cent. The company plans to launch an initial public offering of shares in Emaar shopping malls mules unit this month and will be open for subscription in shares on September 14.
The subtraction of the biggest will be selling in the Middle East since 2008, said the reconstruction that it will allocate a large part of the shares to individual investors who dominate the DFM. According to Reuters, the ADX general index added 0.5 percent to 5186 points, the highest close in three months, with the rise of the shares of Emirates Telecommunications Corporation Etisalat largest listed company in the Principality of 0.4 per cent and Abu Dhabi Commercial Bank shares 0.7 per cent and first Gulf Bank shares at 0.5 percent. Qatar exchange index rose 0.6 percent, but failed for the second time this month in cohesion above 14,000 points. Industries Qatar was the booster President to handle his rise 1.1 percent.
The index fell to Egyptian stock exchange 0.2 percent after a record high close in six years at the previous meeting. The shares of pioneers holding and EFG-Hermes shares were among the biggest pressure on the index by the ITU 3.9 and 2.2 per cent respectively. Ezz steel rose 0.6 percent. Naeem brokerage said in a note Tuesday that Cairo in response to inquiry, denied al Ezz rumors it is considering raising capital or rights issue to finance the new project which will weaken the value of the shares of existing shareholders.
