alrajhi bank maaden boost saudi stocks
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Al-Rajhi Bank, Maaden boost Saudi stocks

Arab Today, arab today

Arab Today, arab today Al-Rajhi Bank, Maaden boost Saudi stocks

International index compiler FTSE is due to decide next month whether to upgrade Saudi Arabia
Dubai - Arabs Today

The Tadawul All Share Index (TASI) rose on Tuesday on the back of gains by Al-Rajhi Bank and mining firm Maaden, while Dubai also outperformed most Gulf bourses although trading was thin.
The Tadawul index climbed 0.4 percent with Al-Rajhi up 2.2 percent to SR65.80 ($17.55), bringing its gains over the last five days to 4.9 percent. Of 14 analysts covering the stock, seven rate it a “buy” or “strong buy” and six rate it a “hold,” according to Thomson Reuters data; their median target price is SR70.90.
Maaden rose 1.8 percent after international base metal prices surged to multi-year highs overnight.
Maather REIT Fund jumped its 10 percent daily limit from its initial public offer (IPO) price to SR11 upon listing in Riyadh to become Saudi Arabia’s fifth listed REIT (real estate investment trust).
Its subscription in the IPO had been covered 15.2 times and analysts at NCB Capital had estimated that based on its subscription price of SR10 per share, its dividend yield for 2017 would be 7.2 percent.
Three other REITs were among the 10 most actively traded stocks and swung widely, although they closed lower. Al-Jazira Mawten REIT fell 2.2 percent.
International index compiler FTSE is due to decide toward the end of September whether to upgrade Saudi Arabia and Kuwait to secondary emerging market status, which could bring them billion of dollars of fresh passive and active fund inflows.
Some investors have begun positioning for the decisions, and Arqaam Capital said in a report on Tuesday that positive decisions appeared likely in both cases, although actual inclusion would probably only occur in two phases in September 2018 and March 2019.
However, Tarek Fadlallah, chief executive of Nomura Asset Management Middle East, wrote in a report that macroeconomic indicators suggested a subdued outlook for Gulf Cooperation Council (GCC) countries, and that while profits at listed regional companies had stabilized, valuations were not particularly cheap against international peers or their own historical averages.
“Investors may take a wait and see attitude as they evaluate the path and consequences of economic reform,” he wrote of GCC bourses.
Dubai’s index rose 0.5 percent as blue chip Emaar Properties added 0.6 percent, but only six of the 10 most heavily traded stocks rose.
Abu Dhabi stocks fell 0.5 percent as Dana Gas, which had soared 8.1 percent on Monday after reporting a sharp rise in second-quarter net profit last week, pulled back 4.5 percent.
Qatar’s index was flat as trading volume rose slightly from Monday’s level, which was the lowest this year. Investment Holding Group, which plunged after listing last week following an IPO at SR10 per share, rebounded 2.7 percent to SR7.72.
In Egypt, the index edged up 0.1 percent. GB Auto climbed 3.9 percent.

Source: Arab News

arabstoday
arabstoday

GMT 14:37 2017 Wednesday ,19 July

Middle East stock markets slip

GMT 05:37 2017 Tuesday ,18 July

Tadawul index slips 0.8%

GMT 04:43 2017 Monday ,17 July

Tadawul index rises 0.5% in broad-based rally

GMT 04:56 2017 Tuesday ,11 July

Strong 2Q boosts Saudi stocks

GMT 04:14 2017 Monday ,10 July

Drop in oil prices weighs on Saudi stocks
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*

alrajhi bank maaden boost saudi stocks alrajhi bank maaden boost saudi stocks

 



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*

alrajhi bank maaden boost saudi stocks alrajhi bank maaden boost saudi stocks

 



GMT 13:49 2017 Thursday ,08 June

Boko Haram kills 11 in NE Nigeria attacks: police

GMT 09:08 2017 Monday ,11 September

Palestinian court grants bail to prominent activist

GMT 00:06 2018 Wednesday ,24 January

Emirates signs agreement for 36 additional A380s

GMT 09:59 2018 Wednesday ,10 January

Pakistan reiterates solidarity with Saudi Arabia

GMT 23:01 2016 Wednesday ,30 November

21 killed in artillery shelling of eastern Aleppo

GMT 09:22 2016 Monday ,10 October

US troops in Kuwait came under 'suicide' attack

GMT 21:14 2017 Tuesday ,21 February

Tatas will lead, not follow

GMT 11:24 2017 Wednesday ,15 February

ISIS kidnapped 16 civilians from Anbar

GMT 19:30 2018 Wednesday ,31 October

King congratulates Antigua and Barbuda Governor-General

GMT 00:05 2017 Thursday ,28 December

Guterres extends mandate of UN-backed Lebanon tribunal

GMT 01:49 2017 Wednesday ,18 October

Iran considered dropping Turkey to fight the Russian

GMT 00:02 2017 Friday ,01 September

July24th-August23rd
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

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday