Arab Today, arab today arab stocks lackluster on annual earnings geopolitics
Last Updated : GMT 00:26:33
Arab Today, arab today
Arab Today, arab today

Arab stocks lackluster on annual earnings, geopolitics

Arab Today, arab today

Arab Today, arab today Arab stocks lackluster on annual earnings, geopolitics

Amman - Arabstoday

Arab stock markets closed mixed last week as investors appraised the annual results of listed firms and the fallout on regional bourses of the Iran-West showdown and Arab uprisings, financial analysts said Friday. They expected Middle East markets to make benefit from any successful steps to be taken by European policy makers to handle the euro zone sovereign debt crisis which played havoc with regional markets over the past few months. “I believe investors are monitoring annual earnings and dividend distributions to decide their portfolios for the coming period,” Nizar Taher, chief of brokerage at the Jordan Ahli Bank, told Arab News. “Regional markets are also interested in seeing European policy makers adopt effective measures to bring the sovereign debt ordeal under control,” he said. Taher expected the row between Iran and western powers over Tehran’s threats to close the strategic Hormuz straits would continue to have a negative impact on regional markets particularly in the oil-rich Gulf states. Saudi shares suffered last week after the Saudi Basic Industries Corp. (SABIC), the top Middle East petrochemical conglomerate, released lower-than-expected profits for 2011, analysts said. The Tadawul All Share Index (TASI) lost 1.7 percent on weekly basis, closing at 6,377.99 points. “The market is showing unjustified concerns toward annual earnings of leading firms,” Saudi analyst Rashid Fawzan said. “I believe the expectations were very high. Nevertheless, SABIC has posted record profits last year,” he added. Fawzan believed that a 10-percent drop in the conglomerate’s fourth quarter earnings, to $1.4 billion, was behind the downbeat sentiment that dominated the Saudi market on Tuesday and Wednesday. SABIC’s chief Mohammad Al-Mady attributed the retreat of the fourth quarter profits mainly to the drop of the petrochemical prices, which he blamed on the euro zone crisis and the gloomy predictions of the world economic recovery that put downward pressure on demand. Fawzan expected the Saudi stock market to get a boost from the annual earnings of more leading firms, foremost banks. Kuwaiti stocks scored gains last week ahead of the publication of yearly results by the banking sector and the Feb. 2 early elections, analysts said. Kuwait’s KSE all-share index rose 0.9 percent on weekly basis, closing at 5,798 points. United Arab Emirates shares lost ground last week due to disappointing fourth quarter results, analysts said. The all-share index of the Abu Dhabi Stock Exchange fell 1 per cent, closing at 2,337 points while Dubai’s benchmark closed week unchanged at 1,328 points. Qatar’s index plunged 2.7 percent last week closing at 8,462 points, while Bahrain’s benchmark gained 0.8 per cent, closing at 1,142 points. Jordanian shares lost fresh ground last week as traders protested lack of action on the part of the new chief of the Jordan Securities Commission (JSC), Mohammad Tash, to reactivate the beleaguered stock market, analysts said. The all-share index of the Amman Stock Exchange (ASE) shed 0.8 percent last week, to close at 1,939 points. Egyptian stocks rebounded last week, buoyed by foreign buying, due to the improving political climate in the country after the election of a Parliament, analysts said. Egypt’s AGX 30 index, which measures the performance of the market’s 30 most active stocks, climbed 2.4 percent on weekly basis, to close at 3,868 points.  

arabstoday
arabstoday

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*

Arab Today, arab today arab stocks lackluster on annual earnings geopolitics Arab Today, arab today arab stocks lackluster on annual earnings geopolitics

 



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*

Arab Today, arab today arab stocks lackluster on annual earnings geopolitics Arab Today, arab today arab stocks lackluster on annual earnings geopolitics

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Egypt tourism revival steady but slow

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 600,000 children may flee to Bangladesh

GMT 06:49 2017 Monday ,18 September

600,000 children may flee to Bangladesh
Arab Today, arab today Equifax executives step down

GMT 16:16 2017 Saturday ,16 September

Equifax executives step down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today 5,000 'Dieselgate' deaths in Europe per year

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Renault-Nissan to launch

GMT 10:44 2017 Saturday ,16 September

Renault-Nissan to launch
Arab Today, arab today Eman Al Assy receives three offers

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers
Arab Today, arab today 'Severe' Typhoon Doksuri pounds Vietnam

GMT 15:49 2017 Friday ,15 September

'Severe' Typhoon Doksuri pounds Vietnam

GMT 11:10 2017 Friday ,15 September

Fadl Shaker retreats from surrendering himself

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:25 2017 Thursday ,14 September

Greece fumbled oil spill response

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:45 2017 Sunday ,17 September

France's hurricane-hit St Martin

GMT 21:57 2017 Sunday ,17 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday