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#Qatar leads most Gulf markets higher; Egypt falls | Reuters

Most stock markets in the Middle East ended higher on Sunday, with Qatar’s index leading the gains on a rise in financial shares, while Egypt closed lower.Financial markets globally have been buoyed over the past two weeks by U.S. drugmakers Pfizer and Moderna Inc releasing encouraging news on the effectiveness of their vaccine candidates against the coronavirus.Saudi Arabia’s benchmark index added 0.1%, with Dr Sulaiman Al-Habib Medical Services leaping 5.1% and real estate firm Jabal Omar Deve...
Tags: Travel, Saudi Arabia, Qatar, Egypt, Middle East, United Arab Emirates, Dubai, Pfizer, Gulf, Reuters, Qatar National Bank, Rupert Neil Bumfrey, Industries Qatar, Dubai Islamic Bank, Commercial International Bank, Jabal Omar Development


Mideast Stocks: #Saudi bourse leads most Gulf markets higher | ZAWYA MENA Edition

Most Middle Eastern Markets ended higher on Wednesday mirroring gains in oil prices, after President Donald Trump falsely claimed victory in a tight U.S. election that proved far closer than polls had predicted.A victory by Trump is viewed as bullish for oil because of sanctions on Iran and his support for Saudi-led OPEC oil cuts to support prices.Brent crude was up by 1.02 cents, or 2.50%, at $40.73 by 1242 GMT.Saudi Arabia's benchmark index advanced 1.1%, boosted by a 2.9% rise in Samba Financ...
Tags: Travel, Saudi Arabia, Opec, Qatar, Iran, Donald Trump, Lebanon, Gulf, Trump, Mideast, Emir, Rupert Neil Bumfrey, Dubai Islamic Bank, Commercial International Bank, Samba Financial, Gulf Egypt


Mideast Stocks: Major Gulf markets mixed; Aramco's Q3 profit slides | ZAWYA MENA Edition

Mideast Stocks: Major Gulf markets mixed; Aramco's Q3 profit slides | ZAWYA MENA Edition Saudi Arabia's stock market closed lower on Tuesday hurt by a string of disappointing corporate earnings, while the Qatari index ended a three-session losing streak.The kingdom's benchmark index slipped 0.3%, with Saudi British Bank dropping 2.1% after it announced a 10.5% fall in third-quarter profit.National Industrialization Company (Tasnee) was down 2.3%, after it posted net loss in the quarter ending Se...
Tags: Travel, Saudi Arabia, Qatar, United Arab Emirates, Dubai, Aramco, Saudi Aramco, Rupert Neil Bumfrey, Industries Qatar, Dubai Islamic Bank, Commercial International Bank, IHS Markit, Saudi British Bank, Gulf Egypt, National Industrialization Company Tasnee, First Abu Dhabi Bank


#Saudi index sees biggest fall since May | Reuters

Saudi index sees biggest fall since May | ReutersSaudi Arabian shares fell sharply on Sunday in a broad sell-off, while a plunge in Commercial International Bank weighed on the Egyptian index.The kingdom’s benchmark index slid 4.1%, its biggest intraday fall since May, with Saudi Basic Industries Corp (SABIC) shedding 4.5% and oil giant Saudi Aramco losing 2.3%.SABIC, the Gulf’s largest petrochemical firm, reported a net profit of 1.09 billion riyals ($290.64 million) in the third-quarter, up fr...
Tags: Travel, Saudi Arabia, Qatar, Yemen, Gulf, Reuters, Saudi Aramco, SABIC, CIB, Abu Dhabi Commercial Bank, Rupert Neil Bumfrey, Emaar Malls, Commercial International Bank, Gulf Egypt, First Abu Dhabi Bank, Saudi Basic Industries Corp SABIC


MIDEAST STOCKS-Banks lift #Saudi index; blue-chip sell-off dents Egypt - Reuters

MIDEAST STOCKS-Banks lift Saudi index; blue-chip sell-off dents Egypt - Reuters:The Saudi Arabian stock market endedhigher on Wednesday, as the Organization of the PetroleumExporting Countries (OPEC) and its allies meet to discuss futureoil output cuts, but Egypt saw a sharp decline as all itsblue-chip stocks fell except one.Key members of OPEC and allies including Russia,collectively known as OPEC+, are set to decide whether to extendoutput cuts of 9.7 million barrels per day (bpd) that end inJ...
Tags: Travel, Saudi Arabia, Russia, Opec, Egypt, Egypt Reuters, EFG Hermes, Rupert Neil Bumfrey, Commercial International Bank, Samba Financial Group, Al Rajhi Bank, Gulf Egypt, PetroleumExporting Countries OPEC


MIDEAST STOCKS- #Kuwait, other bourses sink as coronavirus worries intensify - Reuters

MIDEAST STOCKS-Kuwait, other bourses sink as coronavirus worries intensify - Reuters:Middle Eastern stocks plunged on Sunday,with Kuwait falling the most, as the spread of coronavirusstoked fears that outbreak could hurt the global economy and oilprices.Leaders in Europe, the Middle East and the Americas rolledout bans on big gatherings and stricter travel restrictions ascases of the virus spread around the world.In Kuwait, the index, which traded after a threesession break, slumped 11%, its big...
Tags: Travel, Europe, Egypt, Middle East, Kuwait, Reuters, Rupert Neil Bumfrey, Commercial International Bank, Eastern Company, National Bank of Kuwait Kuwait


Mideast Stocks: Property shares boost Egypt, most Gulf markets trade up | ZAWYA MENA Edition

:A rebound in real estate shares lifted Egypt's blue-chip stock index on Wednesday, while most major Gulf markets rose marginally.Egypt's blue-chip index gained 1.1%, with 24 out of 30 stocks advancing.The country's largest lender, Commercial International Bank, added 0.6%, while developer Madinet Nasr MNHD.CA jumped 9.9% to become the top gainer on the index.Middle Eastern funds plan to increase their investments in Egypt, despite recent political protests, while keeping their exposure to the r...
Tags: Travel, Egypt, Gulf, Reuters, Rupert Neil Bumfrey, Commercial International Bank, Madinet Nasr MNHD


MIDEAST STOCKS-Egypt, #Qatar gain on financials; cement makers lift Saudi - Reuters

MIDEAST STOCKS-Egypt, Qatar gain on financials; cement makers lift Saudi - Reuters:Egypt's blue-chip index and the Qatarstock market rose modestly on Wednesday, buoyed by theirfinancial shares, while the Saudi index edged up on the back ofits cement producers.The Egyptian index rose 0.9 percent, after itslargest lender Commercial International Bank increased0.6 percent and Egypt Kuwait Holding rebounded 3.7percent after trading ex-dividend on Tuesday.  Eastern Company inched up 0.1 percent. O...
Tags: Travel, Egypt, Egypt Qatar, Rupert Neil Bumfrey, Commercial International Bank, Eastern Company, Saudi Reuters, Egypt Kuwait Holding, HC Research


Egypt Shares Gain in Best Start to a Year Since 2014: Inside EM - Bloomberg

:Egyptian stocks were among the biggest gainers in the Middle East, extending the main index’s best start to a year since 2014.The EGX30 Index, already one of the world’s top performers so far this year, climbed 0.8 percent, led by an advance in Commercial International Bank Egypt, which accounts for more than a third of the gauge. Eastern Tobacco jumped as much as 5.6 percent after Chemical Industries Holding Co. said it would sell part of its stake in the company. [Author: [email protected]c...
Tags: Travel, Bloomberg, Egypt, Middle East, Rupert Neil Bumfrey, Commercial International Bank, Eastern Tobacco, Chemical Industries Holding Co


Mideast Stocks: Egypt continues winning streak, banks boost #Saudi | ZAWYA MENA Edition

Mideast Stocks: Egypt continues winning streak, banks boost Saudi | ZAWYA MENA Edition:Egypt's blue-chip share index rose sharply on Tuesday boosted by major lender Commercial International Bank after its strong fourth-quarter earnings, while banks also lifted Saudi Arabia's stock market.Egypt's blue-chip index gained for a ninth straight session, climbing 2.6 percent with 27 of its 30 stocks rising. The country's biggest lender Commercial International Bank jumped 3.9 percent after it reported ...
Tags: Travel, Saudi Arabia, Egypt, Rupert Neil Bumfrey, Commercial International Bank, VEON Ltd, Global Telecom Holding


MIDEAST STOCKS-Financials buoy Egypt, #Saudi inches up on banks | Reuters

MIDEAST STOCKS-Financials buoy Egypt, Saudi inches up on banks | Reuters:Egypt's blue-chip shares rose on Monday, bolstered by financial stocks, while Saudi Arabia reversed early losses as most of its banks gained.Egypt's blue-chip index rose 0.9 percent with its largest bank, Commercial International Bank, gaining 2.2 percent. The bank has gained in the last few sessions after its board decided to increase its authorised capital to 50 billion Egyptian pounds ($2.79 billion) from 20 billion poun...
Tags: Travel, Saudi Arabia, Egypt, Reuters, State, Rupert Neil Bumfrey, Commercial International Bank, Abu Qir Fertilizers


MIDEAST STOCKS-Global woes hurt Egypt, weak oil pushes down #Saudi | Reuters

MIDEAST STOCKS-Global woes hurt Egypt, weak oil pushes down Saudi | Reuters:Egypt's blue-chip index fell sharply on Monday, weighed down by financial shares, mirroring a slide in global stocks amid fears of a slowdown in global growth, while Saudi Arabia snapped a seven-day winning streak as its petrochemicals were pulled down by sliding oil prices.Egypt's blue-chip index fell 1.4 percent with 23 of its 30 stocks declining.The country's biggest lender Commercial International Bank retreated 1.4 ...
Tags: Travel, Saudi Arabia, Egypt, Reuters, Rupert Neil Bumfrey, Commercial International Bank, Global Telecom


MIDEAST STOCKS-Top bank boosts Egypt, Gulf falls in thin trade | Reuters

MIDEAST STOCKS-Top bank boosts Egypt, Gulf falls in thin trade | Reuters:Egypt's blue-chip stock index rose sharply on Wednesday, boosted by its biggest bank, while all major Gulf markets were weak, with some investors away on year-end holidays.The Egyptian index rose 1.3 percent as Commercial International Bank gained 1.9 percent.Real estate firm Talaat Mostafa rose 3.2 percent after saying its sales last year reached 21.3 billion Egyptian pounds ($1.2 billion), up from 13.1 billion pounds a ye...
Tags: Travel, Egypt, Gulf, Reuters, Rupert Neil Bumfrey, Commercial International Bank, Talaat Mostafa, Egypt Gulf


Mideast Stocks: Egypt slides on blue-chip sell-off, Most Gulf markets gain | ZAWYA MENA Edition

Mideast Stocks: Egypt slides on blue-chip sell-off, Most Gulf markets gain | ZAWYA MENA Edition:The Egyptian index fell sharply on Wednesday, pressured by its banks amid weak global sentiment, while most major Gulf markets rose marginally.Egypt's blue-chip index  dropped 1.3 percent, with 23 of thirty stocks declining.The country's largest lender Commercial International Bank fell 2.8 percent and Ezz Steel dropped 3.5 percent. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Egypt, Gulf, Rupert Neil Bumfrey, Commercial International Bank, Most Gulf, Ezz Steel


MIDEAST STOCKS-Saudi stocks slip on profit-taking, other markets up | Reuters

MIDEAST STOCKS-Saudi stocks slip on profit-taking, other markets up | Reuters:Saudi Arabian stocks dipped on Wednesday as investors booked profits, while shares in most other parts of the Middle East gained ground led by Egypt, where Commercial International Bank continued its recent surge.Profit-taking in Saudi followed the index on Tuesday closing above its 200-day average, which analysts say is a positive technical signal for the market.Market heavyweight Saudi Basic Industries Corp (SABIC) s...
Tags: Travel, Egypt, Middle East, Reuters, Rupert Neil Bumfrey, Commercial International Bank, Savola Group, Saudi Basic Industries Corp SABIC, Saudi Arabian Mining Co Ma'aden


MIDEAST STOCKS-Most Gulf stocks in red over Syria tension, Saudi stabilises

MIDEAST STOCKS-Most Gulf stocks in red over Syria tension, Saudi stabilises:"Most Gulf stock markets closed lower on Thursday as the threat of U.S. military action in Syria kept investors on the sidelines, but the Saudi Arabian market stabilised after a sell-off on the previous day.In Egypt, the index fell 1.8 percent as investors booked profits, overwhelming a 1.4 percent gain on Wednesday. Banking and property stocks were hit hard with Commercial International Bank falling 3.3 percent.Property...
Tags: Travel, Syria, Egypt, Gulf, Rupert Neil Bumfrey, Commercial International Bank, Madinet Nasr for Housing and Development, Wednesday Banking, SODIC SODIC


MIDEAST STOCKS-Gulf mostly softens, Commercial International Bank buoys Egypt

MIDEAST STOCKS-Gulf mostly softens, Commercial International Bank buoys Egypt:"Major Gulf stock markets softened on Tuesday, in line with a small pull-back by global bourses and oil prices, but Egypt was buoyed for a second day by strength in its biggest bank.The Saudi stock index rose in early trade but closed 0.3 percent down as Saudi British Bank fell 2.2 percent after reporting a 16.3 percent rise in fourth-quarter net profit to 706 million riyals ($188 million), missing analysts’ average fo...
Tags: Travel, Egypt, Rupert Neil Bumfrey, Commercial International Bank, Saudi British Bank, Major Gulf


MIDEAST STOCKS-Bourses most exposed to foreign funds lag as global mood cautious

MIDEAST STOCKS-Bourses most exposed to foreign funds lag as global mood cautious:"Stock markets in the Middle East that are most exposed to foreign funds were the chief losers on Sunday, taking their cue from international bourses, where the mood was soured last week by growing tensions between the United States and North Korea.The worst performer in the region was Egypt's blue-chip index, which dropped 1.4 percent as all but two of the 30 most valuable shares declined. The broader EGX100 fell 0...
Tags: Travel, North Korea, United States, Egypt, Middle East, EFG Hermes, Rupert Neil Bumfrey, Commercial International Bank


MIDEAST STOCKS-Juhayna profit fall pulls down Egypt; Gulf mixed

MIDEAST STOCKS-Juhayna profit fall pulls down Egypt; Gulf mixed:"A slide in shares of Egypt's Juhayna Food Industries after it reported second-quarter earnings pulled down Egypt's stock market on Thursday, while Gulf bourses were mixed.Egypt's blue-chip index dropped 1.4 percent as Juhayna sank 4.2 percent after saying consolidated net profit attributable to shareholders fell to 27.2 million Egyptian pounds ($1.5 million) from 29.8 million pounds a year earlier.A couple of other blue chips also ...
Tags: Travel, Egypt, Gulf, Rupert Neil Bumfrey, Commercial International Bank, Global Telecom, Juhayna, Juhayna Food Industries


MIDEAST STOCKS-Egypt jumps on IMF loan talks, oil pulls down Gulf | Reuters

MIDEAST STOCKS-Egypt jumps on IMF loan talks, oil pulls down Gulf | Reuters:"Egyptian stocks surged on Wednesday on news that Cairo was close to agreeing an International Monetary Fund (IMF) lending programme, while weak oil prices pulled down most bourses in the Gulf.The main Egyptian equities index climbed 5.0 percent to 7,915 points, its biggest daily gain since mid-March, in the market's heaviest trade since mid-April.Blue chips favoured by foreign investors outperformed with Commercial Inte...
Tags: Travel, Egypt, Imf, Cairo, Gulf, Reuters, International Monetary Fund IMF, Rupert Neil Bumfrey, Commercial International Bank, Global Telecom



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