Foreign institutions purchase is the engine that sparked a rally in Egypt
Egypt Stock Exchange, thanks to the recovery of real estate stocks .. and the rise of the Dubai market
Egyptian stock exchange recovered today with the support of the 6th of October company for development and investment (sodic) with foreign institutions to buy shares in the country's booming real estate sector. And most Gulf markets also escalated amid a slight increase in the demand for buying, but trading remained quiet in the summer, as ' Reuters '. (sodic) share raised 8.7 per cent to its highest in six years for up to 47.30 Egyptian pounds. The company said last week its profits grew 14 per cent in the second quarter of the year. He said ' Harshit Ozan ' real estate and banking analyst with Naeem brokerage in Cairo, ' companies announced quarterly results Egyptian real estate is especially good for book sales, new and improved budgets '.
And other property stocks rose, with shares of Talaat Moustafa climbed 5.5 percent, while the shares ' Palm Hills ' 1.6 per cent. Talaat Moustafa was announced last week in the box scores to its profits in the first half of the year. Ozan said, ' coming back to foreign real estate stock flows after the absent since the revolution. Purchase of foreign enterprises is the engine that sparked the rise today, and local investors followed suit '. Egyptian main index rose 0.9 percent to recouping some of the losses point 9396 the Monday while fell 1.4 per cent to score his biggest loss in eight weeks. In the UAE, the Dubai market index increased 0.6 percent to its highest in two weeks; trading volumes reached a similar level exceeded 200 million shares for the fourth time this month. Trading focused on a limited number of medium-sized companies, which usually target individual customers, who are looking for a quick buck, and then the gains today may not indicate the beginning of a long climb.
Arabtec shares stepped up ' real estate ' and ' real ' Union representing about half of the total number of shares traded 0.5 and 1.4 per cent respectively. Ali Aladow said conservative investor National Manager in Abu Dhabi, ' slightly elevated trading volumes today but I do not see any significant catalysts for the short term until the period before the announcement of third quarter results '. And little changed on the Abu Dhabi general index which rose 0.04 per cent to just a few points from the highest level in 10 weeks. Qatar stock exchange today rose $ 37.40 points, or 0.27 percent, to 13,000 and 682.04 points. During the meeting, the circulation of 20 million and 587 and 458 shares worth 943 million and 803 thousand and real as a result of the implementation of 146.75 8580 deal in all sectors. Kuwait market closed for stock trades today at a height in three indicators by 43.4 points to price level 7310 points by 2.39 points to weight and 6.94 points to (Kuwait 15).
Value traded stock at close to 26.7 million Kuwaiti dinars while the volume of shares traded around 227 million shares registered through 5153 deal. The MSM index closed (30) today at 7320.90 points by 11.36 points, 0.15 percent, compared with the last trading session. The trading value today was 7.61 million low by 17.44 percent compared with the last trading session, worth 9.22 million. The report by the Muscat Securities market that the market value of the companies rose 0.02 percent on the last trading day amounted about 15.40 billion Omani Rial.