saudi stocks edge higher
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today
Almaghrib Today, almaghrib today
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today

Saudi stocks edge higher

Almaghrib Today, almaghrib today

Almaghrib Today, almaghrib today Saudi stocks edge higher

An investor walks at the Saudi Stock Exchange
Dubai - Arab Today

The Tadawul All Share Index (TASI) added 0.2 percent on Monday with buying momentum building in the final hour. Petrochemical shares were the main support with almost two-thirds of the 14 producers gaining. 
Loss-making Nama Chemicals surged 9.5 percent after slumping 6.7 percent on Sunday. Shares in the polymer maker have been volatile since it announced a recovery plan late last month.
Insurance stocks, often traded by retail investors, were robust; Buruj Cooperative Insurance jumped 8.6 percent.
The sector was one of the best-performing with net income more than doubling in 2016, according to Al-Rajhi Capital. Analysts attributed the growth to greater efficiencies and higher pricing.
Meanwhile, most stock markets in the Gulf moved little but the United Arab Emirates (UAE) bourses outperformed with mid-to-large sized companies boosting Dubai, while Egypt’s index slipped in thin volume.
Dubai’s main index added 1.2 percent as Emaar Properties gained 2.7 percent after saying it would recover AED1.22 billion ($332 million) from an insurance claim for a fire that engulfed one of its hotels in late 2015.
The Dubai-listed shares of GFH Financial Group fell as much as 6.5 percent during the day but ended 0.4 percent higher. The Bahrain-based financial firm announced plans for a big increase in share capital to fund a new growth strategy of acquiring financial institutions and infrastructure investments.
Large caps helped carry Abu Dhabi’s index 0.7 percent higher. Dana Gas, which has not yet reported quarterly earnings, rose 1.9 percent.
Kuwait’s index rebounded 0.2 percent after sinking 2.3 percent in the previous session as investors worried over rising political tensions between the Cabinet and Parliament, which may delay the country’s economic plans.
The Kuwaiti index soared 19 percent last month but has lost steam in the past week and fund managers are split over whether the bull run has ended.
“We are skeptical that Kuwait offers a durable, positive investment case for frontier investors,” investment bank Exotix said in a report.
But it added that the stocks were back to their mean valuations for the past five years from the point of view of price/book ratios, and said stocks such as National Bank of Kuwait and Agility combined relatively low valuations with dividend yields above 3 percent.
Egypt’s index fell 0.3 percent with two-thirds of the blue-chip constituents declining.
GB Auto lost 3.5 percent after the automotive industry council published a report showing car sales in Egypt fell to their lowest in five years and car brands sold by GB Auto declined 55 percent month-on-month in November 2016, the month when the Egyptian pound was floated and lost nearly half its value.
al car unit sales,” they wrote.

Source: Arab News

almaghribtoday
almaghribtoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi stocks edge higher saudi stocks edge higher

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi stocks edge higher saudi stocks edge higher

 



Almaghrib Today, almaghrib today Skincare PR Performance Full Year 2017

GMT 09:22 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Almaghrib Today, almaghrib today New hunt for flight MH370 gets under way

GMT 11:03 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Almaghrib Today, almaghrib today Modern colorful bedroom renovation

GMT 10:57 2017 Thursday ,21 December

Modern colorful bedroom renovation
Almaghrib Today, almaghrib today Puigdemont candidate for Catalan president

GMT 13:56 2018 Tuesday ,23 January

Puigdemont candidate for Catalan president
Almaghrib Today, almaghrib today Turkey detains dozens more

GMT 10:47 2018 Wednesday ,24 January

Turkey detains dozens more
Almaghrib Today, almaghrib today The Rake announces editorial updates

GMT 10:46 2018 Tuesday ,16 January

The Rake announces editorial updates
Almaghrib Today, almaghrib today Europe brings on charm and blue skies

GMT 11:51 2018 Tuesday ,23 January

Europe brings on charm and blue skies
Almaghrib Today, almaghrib today For the Variety of Interior Design Styles

GMT 10:46 2017 Tuesday ,19 December

For the Variety of Interior Design Styles
Almaghrib Today, almaghrib today US Christian tourists see deep meaning

GMT 13:44 2018 Monday ,22 January

US Christian tourists see deep meaning
Almaghrib Today, almaghrib today Amazon to open first cashierless shop

GMT 10:03 2018 Tuesday ,23 January

Amazon to open first cashierless shop

GMT 23:51 2017 Wednesday ,30 August

Trump may be inciting 'violence' against media: UN

GMT 04:28 2011 Sunday ,11 September

Is monogamy making us miserable?

GMT 15:04 2011 Thursday ,16 June

\"UK\" Oil boss killed in motorway crash

GMT 10:12 2017 Tuesday ,19 September

Norway wealth fund hits 'milestone' $1 trillion value

GMT 06:18 2016 Tuesday ,05 July

NASA's Juno spacecraft orbits Jupiter

GMT 07:03 2011 Thursday ,15 September

Virgin aims for first space launch within a year

GMT 14:32 2015 Thursday ,20 August

Indian pilgrims finish journey to Tibet

GMT 09:04 2015 Saturday ,29 August

DEWA receives Dubai World Central delegation

GMT 20:53 2013 Wednesday ,13 November

Kuwait elected to UNESCO executive board

GMT 00:42 2015 Friday ,10 April

Palestinian president Mahmoud Abbas leaves Doha

GMT 18:01 2014 Monday ,10 February

BAPCO exports 85.5m barrels to world market in 2013

GMT 22:44 2016 Friday ,15 April

3.9-magnitude earthquake hits the Dead Sea

GMT 10:38 2016 Monday ,12 December

Brazil bribery probe hits projects in other countries

GMT 15:47 2014 Wednesday ,11 June

New Miss USA a martial-art champ in high heels

GMT 06:28 2012 Saturday ,28 April

Egyptian giants lead away charge

GMT 20:37 2012 Tuesday ,24 April

EFA proposes a new date for Egypt Cup
Almaghrib Today, almaghrib today
 
 Almaghrib Today Facebook,almaghrib today facebook  Almaghrib Today Twitter,almaghrib today twitter Almaghrib Today Rss,almaghrib today rss  Almaghrib Today Youtube,almaghrib today youtube  Almaghrib Today Youtube,almaghrib today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

.almaghribtoday .almaghribtoday .almaghribtoday .almaghribtoday
almaghribtoday almaghribtoday almaghribtoday
almaghribtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
almaghribtoday, Almaghribtoday, Almaghribtoday