Saudi Arabia’s stock market closed higher for a fourth straight session on Monday after last week’s mega international bond sale by the government boosted sentiment, but Egyptian shares dropped further as a chronic dollar shortage weighed on sentiment.
Tadawul All-Share Index rose 1.0 percent, taking its gains over the last four sessions to 6.2 percent.
It underperformed the region earlier…Read more
The dollar rose in Asia Tuesday as the chances of an interest rate hike were further boosted, while most stock markets recovered from early losses to track a Wall Street lead higher.
US markets rallied Monday on the back of another upbeat round of corporate earnings and a provisional reading that showed activity in the US manufacturing sector expanded at…Read more
The Egyptian global depository receipts (GDRs) traded on London Stock Exchange (LSE) showed mixed performance at the close of Monday’s trading.
The GDRs of the Commercial International Bank (CIB) and Edita Food Industries went up by 0.35 percent and 1.35 percent to 4.36 dollars and 6.75 dollars respectively.
The GDRs of EFG Hermes and Orascom Telecom went down by 1.45…Read more
The central parity rate of the Chinese yuan weakened to a six-year low against the US dollar on Monday.
The central parity rate of the Chinese currency renminbi, or the yuan, weakened 132 basis points to 6.7690 against the US dollar Monday, according to the China Foreign Exchange Trade System.
It was the weakest level since September 2010…Read more
After a disappointing start, Asia’s main equity markets were broadly higher on Monday, as Japan traders swung around to the view that trade data there were better than expected.
The Nikkei Stock Average was up 0.3% in midmorning trade, after an early decline of 0.1%. Across the region, Australia’s S&P/ASX 200 was down 0.6% and Hong Kong’s Hang Seng…Read more
Major stock markets in the Gulf rose on Sunday with Saudi Arabia outperforming it peers, continuing to climb on the back of upbeat investor sentiment following the mammoth international bond sale at the end of last week. Egypt’s index slipped on profit taking.
Tadawul All-Share Index added a further 1.6 percent, taking its gains since Wednesday to 5.1 percent as…Read more
The Egyptian Exchange (EGX) showed a mixed performance at the end of Sunday's trading amid sales by Arab and foreign investment funds and purchases by Egyptian investors.
The market capital lost about one billion pounds to hit 407.6 billion pounds.
The main benchmark EGX 30 index went down by 0.04 percent reaching 8,274.15 points.
The broader EGX 70 index of…Read more
With S&P 500 earnings on track to rise after four consecutive quarters of contraction, US stocks are clearing a major hurdle that puts the record high in sight for the benchmark US stock index.
The S&P 500 hit a record high in mid August even after the long profit slump. The index has trended lower since then, and even closed…Read more
Megamerger buzz returned to Wall Street Friday on a mixed day for US stocks, with shares of Time Warner and Reynolds American both surging on news of possible takeover deals.
Tobacco giant Reynolds American shot up 13.8 percent after British American Tobacco launched a $47 billion bid to buy the 58 percent of the company it does not yet own.…Read more
The Egyptian global depository receipts (GDRs) traded on London Stock Exchange (LSE) rose at the close of Friday’s trading.
The GDRs of the Commercial International Bank (CIB) and EFG Hermes went up by 0.23 percent and 4.28 percent respectively.
In the meantime, the GDRs of Edita Food Industries and Orascom Telecom remained unchanged at 6.66 dollars and 0.40 dollars respectively.Read more