March 29, 2023

Dubai Week

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Most of the Gulf stock markets rise .. and "CIP" supports the Egyptian market

Most of the Gulf stock markets rise .. and “CIP” supports the Egyptian market

Most stock markets in the Gulf region ended trading yesterday, while the Commercial International Bank pushed the Egyptian market.
In Abu Dhabi, the index rose 0.3 percent to 7,730 points, up 0.5 percent on Al-Alamia Holdings and 2.9 percent on its “Alpha Abu Dhabi Holding” segment.
Reuters quoted Holding as saying that the company had agreed to buy a 41 percent stake in the Nasser al-Rifai brand, which imports and exports fruits and vegetables, under a 166 million dirham ($ 45.20) contract. Million).
The Dubai index ended the session at 2774 points after the decline in shares of real estate companies was offset by gains in financial sector companies.
CBRE Group, a real estate investment firm, said on Thursday that average residential property prices in Dubai had risen 4.4 percent in the 12 months to August, the highest annual increase since February 2015.
But the continued decline in rents indicates the continued weakness of the sector, which has been in trouble for a long time, and “CBRE” continued the decline in rents in Dubai and fell to an annual average of 2.7 per cent in August (until August).)
The Qatari index was up 0.2 percentage points at 11,553 points, up about 1.7 percent on shares of “Masite Petrochemical”.
Qatar National Bank, the largest Gulf bank, has reported a net profit of 10.3 billion Qatari riyals ($ 2.83 billion) for the first nine months of this year, up 8 percent. But the bank’s shares ended unchanged.
The Bahrain index was up 0.1 percent at 1701 points, the Muscat index was up 0.2 percent at 3,969 points and the Kuwaiti index was down 0.1 percent at 7,471 points.
In Cairo, the main index of the Egyptian stock market was up 1.2 percent to 10,662 points, leading the Commercial International Bank to rise 1.9 percent. Yesterday, the Egyptian Federal Agency for Public mobilization and statistics showed that annual consumer price inflation in Egyptian cities rose to 6.6 percent in September from 5.7 percent in August.
Inflation is between 5 and 9 percent within the central bank’s target range, and the bank meets on October 28 to set interest rates.

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