egypt jumps after new president takes office
Last Updated : GMT 17:31:38
Arab Today, arab today
Arab Today, arab today

Egypt jumps after new president takes office

Arab Today, arab today

Arab Today, arab today Egypt jumps after new president takes office

Cairo - Arabstoday

Egypt’s bourse yesterday surged to a five-week high on the first day of trading since the country’s first democratically-elected president took office, while Gulf markets were mixed in muted trade as euphoria from last week’s eurozone debt deal waned. Cairo’s index jumped 5% to close at its highest level since May 24. “It is optimism over the election and about how smoothly the process went over the last few days” said Mohamed Kotb of Naeem Brokerage. “Investors see a president has been elected and are anticipating a new government that finally will deal with the country’s problems, putting the economy as a priority.” Blue-chips jumped, particularly real estate companies, with Palm Hills up 8.9%, Talaat Moustafa gaining 9.8% and Amer Group 7.6% higher. Commercial International Bank advanced 10%. Total equity turnover on the index was around double the typical trading day in June at 752mn Egyptian pounds ($124.2mn), Kotb added. In Saudi Arabia, the index rose 0.6%, up for a second session in the last three since last week’s five-month low, as bargain hunters returned. Small-and mid-caps dominated, with Dar Al Arkan and Emaar Economic City gaining 9.6 and 7.1% respectively. Zain Saudi rose 1.3%. These three stocks accounted for half of all the session’s trading. The real estate index leapt 5.5%. An announcement after trading ended said the cabinet had approved the kingdom’s long-awaited mortgage law. Dubai’s index ticked up 0.1%, but volumes fell to their lowest since January 2 as a summer lull deepened. Market leader Emaar Properties and builder Arabtec gained 1.4 and 0.4% respectively. With second-quarter results expected to bring few surprises, investors are shying away despite signs of a turnaround in Dubai’s beleaguered property sector. Abu Dhabi’s index eased 0.07% to 2,458 points. In Kuwait, the index climbed 0.4%. Emir Sheikh Sabah al-Ahmad al-Sabah accepted the resignation of the government, a move that could help ease a political crisis after a court ruling effectively dissolved parliament. Elsewhere in the Gulf, Oman’s index slipped 0.7% to 5,622 points, while Bahrain’s measure ticked up 0.07% to 1,121 points. from gulf times.

arabstoday
arabstoday

GMT 03:39 2017 Friday ,24 November

European markets wobble amid US Thanksgiving holiday

GMT 22:09 2017 Thursday ,23 November

Bahrain Bourse daily trading performance

GMT 02:02 2017 Thursday ,23 November

Asian markets rally after Wall St lead, euro struggles

GMT 22:40 2017 Wednesday ,22 November

Bahrain Bourse daily trading performance

GMT 11:50 2017 Tuesday ,21 November

European stocks shrug off Germany's political woes

GMT 03:59 2017 Tuesday ,21 November

Weekly inflation decreases by 0.88%

GMT 23:50 2017 Monday ,20 November

Bahrain Bourse daily trading performance

GMT 14:54 2017 Sunday ,19 November

Bahrain Bourse daily trading performance
Arab Today, arab today
Arab Today, arab today

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*

egypt jumps after new president takes office egypt jumps after new president takes office

 



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*

egypt jumps after new president takes office egypt jumps after new president takes office

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
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 Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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