DUBAI: Egypt's stock market is likely to drift in coming days while investors await the outcome of protests planned for Friday against the disqualification of three leading candidates for the presidency.
If the protests turn violent that could (...)
CAIRO/DUBAI: Political uncertainty is sapping demand for Egyptian equities and is likely to take the momentum out of any rebound in the coming week, analysts say.
Trading volumes have been weak since the Muslim Brotherhood announced at the (...)
CAIRO/DUBAI: Egyptian stocks rallied on Wednesday after their biggest losing streak in months created fresh buying opportunities, and most Gulf markets also rose, supported by an upbeat global backdrop.
Cairo's main index rose 0.8 percent, (...)
DUBAI/CAIRO: Gulf stock investors will focus on Saudi Arabia next week as its companies begin posting their 2011 earnings, with heavily weighted petrochemical firms likely to announce strong profit growth. But analysts say the profit figures may not (...)
CAIRO/DUBAI: Optimism for the year ahead lifted Egypt's stock market on Monday, while Gulf bourses were mixed in muted trade as many investors were still away on holidays.
Egypt's benchmark index rose 1.6 percent as some investors took new (...)
DUBAI/CAIRO: Hopes for an extended rebound of Gulf stock markets have faded once again because of global market turmoil triggered by Greece's shock decision to hold a referendum on its bailout package.
Early this week, shares in the Gulf appeared (...)
DUBAI/CAIRO: Saudi Arabia's stock market is likely to be largely unaffected by geopolitical tensions with Iran next week and to focus instead on petrochemical companies which are due to announce quarterly earnings, analysts said.
Washington's (...)
DUBAI/CAIRO: Foreign institutions and funds bought into Egypt's beaten-down stocks with heavyweight Orascom Construction Industries (OCI) climbing 4.5 percent.
The index rose 0.8 percent, trimming its 2011 losses to 43.3 percent.
"There is (...)
DUBAI/CAIRO: Egypt's benchmark index recouped on Tuesday some of the previous day's losses, pushed higher by Citadel Capital.
Citadel jumped 6.3 percent as a foreign buyer bought more than 5 million shares in the private equity firm, traders (...)
CAIRO/DUBAI: Egypt's bourse rose on Sunday on relief that a weekend protest to demand a swifter move to civilian rule was less violent than some investors feared, while trading was muted on most Gulf markets.
Egypt's main index rose 1.4 (...)
DUBAI/CAIRO: Dubai's index fell to a 3-month low on Sunday, on disappointment after a delay on a possible index upgrade, and Egypt's bourse fell after the government turned down a $3 billion IMF financing package.
Egypt's index fell 0.8 percent as (...)
DUBAI/CAIRO: Lack of buying interest weighed on Gulf markets on Thursday, while investors in Egypt digested news of a planned narrower-than-expected budget deficit and its possible impact on the country's economy.
Abu Dhabi's Aldar Properties (...)
DUBAI/CAIRO: Egypt's index ended down 0.9 percent, a day after it reached a post-revolution high, with traders saying foreigners have been selling and a new trigger is required to push the market into higher territory.
"We just need a catalyst, (...)
CAIRO/DUBAI: Egypt's index, EGX30, rose for a first session in four after the government said it would not tax profits on stock and bond market trades.
Most Gulf Arab markets slid, tracking declines on global markets over the weekend as weak U.S (...)
CAIRO/DUBAI: Egypt's main index hit a seven-week high on Thursday as concerns eased that demonstrations planned for Cairo the following day could turn violent and wreak further damage on fragile investor sentiment.
The EGX 30 rose 1.1 percent to (...)