Cohesion in the Bahraini and Kuwaiti markets
UAE and Qatar gains exposed to reap profits with weak global markets
UAE and Qatar stocks on operations for a profit have discredited the Dubai market 2.4 percent and Abu Dhabi about 0.9 percent and Doha about 0.5 per cent in the rest of the market was. This performance under weak global markets and a lack of positive news with new season announced the results of the second quarter of the year in many States. And profit from the shares of real estate companies, banks, stock exchanges in Dubai and Abu Dhabi to undo. European stocks had the biggest decline was recorded in one day during the month after falling US stock and new tensions over Ukraine and is prompting investors to refrain the risk. And Brent lowest close since November 2013 Tuesday despite recovering partially Friday.
And the impact in the Gulf region, where the Economic Outlook and positive long-term market but with the end of the second quarter results season almost the short-term investors saw no new incentives recalls lured into buying. The Emirates saw massive profits operations with DFM index 2.4 percent. ' Emaar Properties ' Shares fell 3.9 percent down for a second day after the company announced strong results for the second quarter but was a positive surprise for investors. ' arabtec holding ' arrow fell by 3.6 per cent. The stock exchange data showed that Hassan Asamek former arabtec CEO who resigned suddenly in June continues to reduce its stake in the company fell to 27.90 per cent of 28.85 percent in late July. Investors hoping to buy the ' Abar investment 'arm of the Abu Dhabi Government's investment is part of that share at least it might send a strong support for the ' arabtec ' but the data showed that the share of the ' Abra ' remained constant at 18.94 percent.
Trading volumes remained modest since they resumed in the market after the long Eid al-Fitr holiday. This prompted shares of the Dubai financial market company which manages the Emirate's stock exchange closed down 4.1 percent. The General index fell to Abu Dhabi 0.9 percent. UAE banks recorded strong results in the second quarter but the market digested, Faculty now. And Abu Dhabi Commercial Bank shares fell 4.8 percent. Dana gas announced that net profit for the second quarter jumped 70 percent and it expects to recover most of their dues to the Egyptian Government, which now stands at $ 297 million by 2018 under the new arrangement, which will sell larger quantities of distillate markets. But it has failed to support the Dana gas shares, which fell 2.8 percent. Qatar stock index fell 0.5 percent despite news of a Prince of Qatar law initially announced in May last year lifted the roof ownership of foreign investors up to 49% of shares of companies listed on the stock exchange. And not more than the maximum foreign ownership in companies currently 25 percent normally.
It was not immediately clear whether all Qatari companies are obliged to raise the ceiling on foreign ownership to 49 percent, or time available to do so. Mutual fund managers said that although the reforms constitute a positive step is unlikely to stimulate a rapid increase in the flow of funds in Qatar. In the Egypt stock continued to rise after a technical breakthrough this week, surpassing the peak ascent in May and June and news of a new plan of four billion dollars for the construction of the Canal Suez navigational channel next to the new current. The main index has increased 0.4 percent. However, global telecom shares slipped 3.5 percent after the company said it recorded a net loss of $ 173.1 million for the second quarter of 2014 compared to a loss of $ 22.7 million in the same period last year. The companies attributed to the weak pound and lower the value of their activities in Africa. In Kuwait the index climbed 0.1 percent to 7172 points, while Bahrain index dropped 0.1 percent to 1,486 points, the MSM index fell 0.04 percent to 7347 points.