Egyptian Premier League fixtures (15th matchday)    Communication ministry provides 20 electronic services via digital means    Tennis: Federer overcomes slow start, reaches Australian Open QFs    Erdogan says Haftar cannot be expected to respect Libya truce    Lebanon's Bank Audi chooses Egypt's EFG Hermes as financial advisor in deal to sell its Egypt unit    Israel approves travel to Saudi under limited circumstances    STC claims negotiating to acquire stake in Vodafone Egypt    Iraqi security forces clash with hundreds of protesters in central Baghdad    Dozens pulled from rubble as Turkey quake toll hits 35    Trump says U.S. will not lift sanctions to negotiate with Iran    Live score: Egypt's Ahly v Tunisia's Etoile du Sahel (African Champions League)    China virus ability to spread getting stronger    US registers third coronavirus case: Health officials    Egypt's Sisi awarded by Germany's St. George medal for peace-making in Africa    Major Gulf stocks slump over spreading coronavirus fears    EBRD is interested in pumping investment into Egypt: President    Egypt denies cases of coronavirus among its citizens in China    Trump to reveal Middle East peace plan, amid Palestinian rejection    EGX expected to maintain sideways at 13,700-14,000 amid low liquidity    Zero coronavirus infection in Egypt, eastern Mediterranean region, says WHO    E-Commerce latest strategies to double online business    Egypt to play Tunisia for African Men's Handball Championship title, Olympics qualification    MOI pardons 2,957 prisoners on Police Day    A whisper from the past: voice of 3,000-year-old Egyptian mummy reproduced    France confirms three cases of deadly China virus    Egypt's AOI, Canada's Point North Co signs deal to revamp SEMAF    GEM at the forefront of Egyptian tourism promotion in 2020    A year of major tourist openings ahead: Al-Anani    Two Iraqi protesters killed, 25 wounded in clashes with police: Sources    Despite FDA's anti-vaping campaign, popularity of e-cigarette grows    Interdisciplinary study reveals new insights into evolution of sign language    Books not to miss this book fair - The dreams and agonies of an Egyptian filmmaker    Technical, legal committee meeting on GERD concludes in Khartoum    Financial solvency biggest challenge in Egypt's smart transport market    Egypt's Sisi marks National Police Day with visit to Police Academy    Audio recording: The voice of a 3,000-year-old Egyptian mummy    Egypt's achievements will be starting point for building modern state: El-Sisi    Al-Sisi reviews GERD negotiation updates ahead of Washington meeting    Sesame Street launches Arabic TV programme for Middle East children dealing with displacement    Egypt in a group with Gabon, Libya, Angola in 2022 World Cup qualifiers    Egypt to play Angola for group leadership in African Men's Handball Championship quarter-finals    Maspero triangle's towers will be up and standing in 30 months: NUCA    TMG to sponsor 5 Egyptian athletes qualified to Tokyo Olympics 2020    ‘Djamila Bouhired' movie star Magda al-Sabahi dies at 89    Egypt is best tourism destination for 2020 according to BBC    Egypt's Zamalek, Smouha presidents hit with disciplinary sanctions by EFA    Egypt's President Sisi pardons some prisoners on 25 Jan. Revolution anniversary    Egypt's Sami Anan released after near two-year detention    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Property-Related Shares Lift UAE; Regional Shares Mixed
Published in Amwal Al Ghad on 16 - 01 - 2014

Markets in the United Arab Emirates rose on Thursday as investors bought property-related stocks ahead of quarterly earnings, while regional bourses were mixed.
Dubai builder Arabtec jumped 4.9 percent, leading trading volumes to hit its highest close since September 2008.
Analysts polled by Reuters on average forecast Arabtec will post a 151 percent rise in earnings.
Dubai's index rose 1.2 percent in its sixth consecutive gain to reach a new five-year high.
"UAE markets are taking their natural course - people are focused on earnings, which will dictate market direction in the coming weeks," said Amer Khan, head of asset management at Shuaa Asset Management.
Abu Dhabi's Aldar Properties surged 8.3 percent to 3.25 dirhams, its highest level since June 2010. Naeem Holding estimates Aldar's fourth-quarter profit will increase by 48 percent.
Abu Dhabi Municipality said in a statement late on Tuesday that it had registered land development contracts for Aldar's residential units under freehold ownership, and the deeds would be issued to owners.
Abu Dhabi did not give details of the freehold arrangement or explain exactly how it differed from other property rights in Abu Dhabi, and officials have not been available to elaborate on the announcement.
"Some investors might think it's freehold like in Dubai and be getting ahead of themselves, but there needs to be more clarity to price in the impact on earnings, if any," Khan said.
Aldar's technical breakout above the August peak of 2.96 dirhams and the stock's lagging performance compared with its peers have helped fuel its recent rally, said Hisham Khairy, head of trading on the institutional desk at MENA Corp.
Abu Dhabi's benchmark rose 1.3 percent, taking its January's gains to 5.4 percent.
Elsewhere, Saudi Arabia's index climbed 0.2 percent to a fresh five-year high.
In Egypt, the measure fell 0.8 percent to 7,144 points, easing from Wednesday's three-year high as it failed to break above the January 2011 peak of 7,248 points.
About 90 percent of voters approved the country's new constitution in a referendum, the state news agency and a government official said. This is widely expected to lead to army chief General Abdel Fattah al-Sisi, the market's preference, declaring his candidacy for president.
Many analysts and investors said the constitution approval was already priced in.
Car assembler GB Auto rose 2.8 percent after it said it had agreed an exclusive local distributorship deal for lubricants with Gazprom Neft.
In Qatar, Masraf Al Rayan climbed 1 percent after the sharia-compliant bank said it completed its acquisition of Islamic Bank of Britain (IBB).
Doha's index rose for a 13th straight session, its longest winning streak since April 2008.
Qatar's upgrade to emerging market status by index compiler MSCI, which will be implemented in May and is forecast to attract about $500 million in additional benchmark global funds, as well as developments in preparation to host the 2022 World Cup underpin bullish sentiment for Doha-listed equities.
Kuwait's bourse was closed for a public holiday.
THURSDAY'S HIGHLIGHTS
DUBAI
* The index climbed 0.8 percent to 3,609 points.
ABU DHABI
* The index rose 1.3 percent to 4,521 points.
SAUDI ARABIA
* The index advanced 0.2 percent to 8,761 points.
QATAR
* The index advanced 0.3 percent to 11,106 points.
OMAN
* The index slipped 0.2 percent to 7,140 points.
BAHRAIN
* The index declined 0.3 percent to 1,269 points.
Source: Reuters


Clic here to read the story from its source.