05/03/2015
"Egyptian" fall 0.2% with falling real estate stocks
The absence of positive catalysts push Gulf bourses to fall
Most Gulf stock markets fell in trading yesterday after a series of mixed news about the companies failed to support investor sentiment, and the absence of positive catalysts supporting the climb.
And Dubai's index fell 0.3 per cent decline with Arabtec construction of 0.7 per cent amid concerns about the housing project in Egypt, which cost $ 40 billion, which stumbled again.
According to the news that the chairman of Arabtec Holding the building met with officials from the Egyptian Ministry of Housing yesterday, to renegotiate the terms of the project after the two sides disagreed on the agreement reached earlier.
Aramex shares jumped Logistics 4.2 percent after the company's board proposed a cash dividend by 14 per cent, or 0.14 dirhams per share for 2014, up from 0.115 dirhams per share, in 2013.
The overall index fell for the Abu Dhabi 0.1 per cent decline with National Bank of Abu Dhabi 1.5 per cent.
And Qatar's index fell 1.3 per cent, with most stocks fell on his list.
The index fell president of the Egyptian Stock Exchange with a 0.2 per cent decline in some of the stocks of real estate after rising in the previous session, supported by reports that the government will agree soon on a $ 80 billion to build a new capital.
Fell Sixth of October Development and Investment Corp (Sodic) 0.6 per cent and Medinet Nasr Housing and Development 1.2 percent.
At the same time Pioneers Holding shares rose to invest 0.5 per cent after Walid Zaki chief executive, said the company is planning to three new acquisitions this year in food and real estate.
