Egypt businesses eye increased trade, investment with Saudi Arabia: HSBC report    China invites Egypt to join African duty-free export scheme    Oil prices edge higher on Wednesday    Maersk to resume Suez Canal transits in early December after strategic deal    Gold prices climb on Wednesday    MSMEDA discusses extending technical cooperation with JICA    Egypt, Italy sign agreements to establish 89 applied technology schools    Egypt, Algeria agree to deepen strategic ties, coordinate on Gaza ceasefire, regional crises    FM pushes for deeper US investment and outlines Egypt's Gaza and Nile red lines in AmCham address    Gaza struggles under fragile truce as Egypt plans reconstruction conference    Egypt calls for deeper health, pharmaceutical partnership with Türkiye    Ahl Masr Hospital Launches Region's First Burn Care Conference    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt, Qatar discuss expanding health cooperation, Gaza support    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date    Egypt signs host agreement for Barcelona Convention COP24 in December    Al-Sisi urges probe into election events, says vote could be cancelled if necessary    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Cairo hosts African Union's 5th Awareness Week on Post-Conflict Reconstruction on 19 Nov.    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egypt adds trachoma elimination to health success track record: WHO    Grand Egyptian Museum welcomes over 12,000 visitors on seventh day    Grand Egyptian Museum attracts 18k visitors on first public opening day    'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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



Gulf stock markets mostly rise, quieter as Ramadan nears
Amwal Al Ghad Published in Amwal Al Ghad on 24 - 05 - 2016

Most Gulf stock markets surged on Tuesday but trading volumes were small as some investors stayed away because of the approach of the holy month of Ramadan and summer holidays, when activity tends to decrease in some bourses.
Dubai's index spent most of the day little changed but closed 1.0 percent higher after a surge in the final half-hour.
Investment bank Shuaa Capital jumped 3.7 percent in unusually heavy trade after sources told Reuters that it cut about 15 percent of its workforce at the end of last week, ahead of a possible sale of a stake in the company by Dubai Group.
Dubai Group mandated Emirates NBD in April to arrange a sales process for its 48 percent stake in Shuaa. There is speculation in the market that a major financial firm in Dubai or the Middle East could buy the stake; Shuaa did not respond to requests for comment.
GFH Financial, the most heavily traded stock, added 2.1 percent after it invited its shareholders and investors to attend a briefing by senior management in Dubai on Wednesday afternoon on its future prospects.
Saudi Arabia's index rose 0.8 percent in its thinnest volume since early January, with the petrochemical sector index climbing 1.1 percent.
But Al Yamamah Steel, which had jumped 15 percent in its first two days of trade since listing on Sunday, fell back 2.4 percent.
Abu Dhabi's index rose 0.6 percent. Abu Dhabi Commercial Bank climbed 1.5 percent but seven of the 10 most heavily traded stocks were flat or lower.
Qatar fell 0.2 percent as real estate firm Ezdan lost 0.9 percent but drilling rig provider Gulf International Services, again the most heavily traded stock, surged 2.6 percent.
TUESDAY'S HIGHLIGHTS
SAUDI ARABIA
* The index rose 0.8 percent to 6,475 points.
DUBAI
* The index gained 1.0 percent to 3,248 points.
ABU DHABI
* The index rose 0.6 percent to 4,222 points.
QATAR
* The index fell 0.2 percent to 9,665 points.
KUWAIT
* The index gained 0.2 percent to 5,323 points.
OMAN
* The index fell 0.2 percent to 5,937 points.
BAHRAIN
* The index edged up 0.1 percent to 1,101 points.
Source: Reuters

Clic here to read the story from its source.