"Americana" Shares rise to a record level in Kuwait
Thin trading for the Gulf markets with continued calm summer
Most stock markets in the Gulf and Middle East, witnessed thin trading Monday with the establish calm summer activity. But Kuwait food company ' Americana ' in Kuwait Stock Exchange rose registering a record high today after the Savola group said Saudi Arabia ' as preliminary talks to acquire the company. The ascended shares ' Americana ' which owns the Kharafi family majority share-2.6 per cent while shares rose in national investments and is a subsidiary of Al-Kharafi also 5.3 per cent. Savola said ' '-which produce edible oils, sugar and other food items in a statement to the Saudi stock exchange ' they started preliminary talks about a possible takeover for ' Americana ' estimated market value of about $ 4.4 billion. 'And increased shares ' Savola 0.7 per cent. Director of sales of shares in Dubai, the ' for ' Savola and complement to the already in Saudi Arabia and Iraq in terms of food production and distribution '.
In addition to the ' computer ' believed that the potential sale for ' Americana ' attract the attention of large American companies for direct investment, although it was not clear whether any of them made a serious offer to buy it or not. And in the UAE rose ' Abu Dhabi national energy ' (energy) 2.8%, curtailing its losses since the beginning of the year to 25.8 per cent after a State-run company turned to net profit in the second quarter and announced her separation from some plans for foreign acquisitions to improve cash flow. And ' power ' net profit stood at 239 million dirhams (65.1 million dollars) in the three months ended June 30 compared to a loss of $ 172 million in the same period last year. And Abu Dhabi general index 0.3 percent gains since the beginning of the year to 16.6 per cent, but it swings up and down in a narrow range with the Dubai market index which fell 0.1 percent today.
Equity Sales Manager ' where the UAE had very calm summer trading volumes have fallen sharply in the previous two weeks. There is a shortage of investors who want to take active positions. Have not seen large flows can move the price. People only slightly in their portfolio and the market is expected to remain sluggish in the next few weeks '. The ' reduced willingness to purchase indicates that the results of the second quarter of the year had little effect '. Arabia air which was 0.7 per cent since the low-cost airline posted a jump in quarterly profits amounted to 128 per cent in August, surpassing analysts ' expectations by a wide margin.
The main index rose for the Egyptian stock exchange 0.2 per cent recorded the highest in six years, although no dazzle investors the profits of some companies the leading shares. Declining shares ' te ' 1.1 percent while the company monopoly fixed telephone lines recorded an increase of 11 percent in its profits for the second quarter of the year. Down arrow ' TMG ' largest real estate development in Egypt of 1.5 per cent. The company recorded a 12 per cent increase in profits, according to initial results, which is described as ' the capital ' in a note with excellent results.