tadawul edges down 06
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Tadawul edges down 0.6%

Egypt Today, egypt today

Egypt Today, egypt today Tadawul edges down 0.6%

Tadawul edges down 0.6%
Dubai - Arab Today

The Tadawul All Share Index (TASI) fell 0.6 percent in modest trading on Wednesday.
Advanced Petrochemical dropped 2.5 percent after the polypropylene maker posted first-quarter net income of SR124 million ($33.1 million), down 12.9 percent from a year ago and below NCB Capital’s prediction of SR149 million.
Other petrochemical makers were also weak after Brent crude slipped below $51 a barrel overnight to its lowest close this year.
Saudi Mining Co. (Maaden) the only listed company directly involved in mining, edged up 0.5 percent. National Metal Manufacturing and Casting rose 0.7 percent.
Small ground freight and logistics company Batic Investments and Logistics Co. added 1.4 percent in active trade.
Elsewhere, Dubai’s index edged down 0.5 percent as Bahraini investment firm GFH Financial slumped 8.9 percent. The company reported quarterly net income attributable to shareholders of $31.91 million, up from $6.06 million a year earlier, but the stock had already risen sharply over the past week in anticipation of strong earnings.
Twenty-two other shares declined in Dubai, including builder Arabtec, which fell 2.4 percent.
In Abu Dhabi, the index rose 0.6 percent as the largest listed lender, First Abu Dhabi Bank, climbed 1.4 percent.
Qatar’s index lost 0.4 percent to a five-month low as telecommunications operator Ooredoo dropped 2.3 percent. Its Omani unit looks set to face fresh competition after Abu Dhabi’s Etisalat joined Saudi Telecom and Kuwait’s Zain Group in bidding for Oman’s third mobile license.
Kunal Damle, a senior institutional sales broker at SICO Bahrain, said all the bidders had a strong cash position and would not need to raise debt to operate in Oman. He believes Saudi Telecom and Zain stand the best chances of winning.
“From a consumer’s standpoint, Oman would be better off with the product offering from STC’s VIVA brand. However, the decision may hinge on the fact that Kuwait is a big investor in the sultanate,” Damle added.
At present, Oman Telecom-munication and Ooredoo Oman both have equal market shares of around 41 percent. Omantel was flat on Wednesday while Ooredoo Oman lost 0.4 percent.
The Egyptian index added 0.6 percent in thin trade with declining stocks in the broad market outnumbering gainers by 93 to 71.

Source: Arab News

egypttoday
egypttoday

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*

tadawul edges down 06 tadawul edges down 06



GMT 13:04 2018 Wednesday ,03 October

Qureshi agreed cooperation with United States

GMT 08:37 2017 Wednesday ,09 August

Gulf diplomatic crisis splits families, dashes dreams

GMT 12:50 2015 Wednesday ,28 January

15 Israeli soldiers killed in Hezbollah missile attack

GMT 11:52 2018 Tuesday ,23 January

Saudi university to open driving school for women

GMT 03:50 2017 Sunday ,23 April

Drought-hit Somalia moves closer

GMT 09:30 2017 Saturday ,08 July

Law enforcement forces in N. Sinai in manhunt

GMT 09:20 2017 Sunday ,29 October

World downhill champion Stuhec out of Olympics

GMT 09:08 2017 Tuesday ,15 August

Iranian drone buzzes US aircraft over Gulf

GMT 08:28 2017 Friday ,07 July

Beauty & hair magazine

GMT 12:10 2015 Thursday ,26 November

UAE Space Agency launches Planet Mars contest

GMT 14:27 2018 Thursday ,01 November

German businesses support closer EU-Russia ties

GMT 14:56 2018 Monday ,08 October

Barca held again as Sevilla lead La Liga

GMT 22:20 2012 Thursday ,08 November

RMA launches manufacturing plant in Bahrain

GMT 18:27 2014 Saturday ,27 December

Internet outage in area between Cairo, Kafr el-Dawwar

GMT 10:40 2018 Monday ,24 September

South Korea-Japan summit to be held

GMT 09:56 2018 Tuesday ,18 September

Gulf Air receives Thales InFlyt Experience officials

GMT 22:52 2018 Wednesday ,05 September

Porcshe GT3 back for 10th season
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt 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 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday