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MENA Market 04-11-2009
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Market recap
• Saudi Arabia: The benchmark TASI ended the day 1.0% higher at 6,343.1. The Petrochemicals sector rose 1.6%, bolstered by Sahara Petrochemical and SIIG, which gained 4.1% and 2.7% respectively. Heavyweight SABIC also ended the day 2.5% in the black. The Banking/Financial sector advanced 1.2%, led by SAMBA and Al Rajhi, which increased 2.8% and 1.4% respectively. Saudi Hollandi has awarded a contract to S1 Corporation to replace legacy payment systems with integrated payment solution. Saudi Hollandi ended the day flat. The Industrial Inv, day’s top performing sector, gained 1.9%, driven by MA’ADEN and FIPCO, which rose 4.2% and 4.1% respectively. The Agri/Food sector lost 1.0%, dragged by Anaam Holding and Jazan Development, which declined 2.9% and 2.4% respectively. Energy/Utilities also fell 0.3%, undermined by Saudi Electricity, which dipped 0.9%.
• Dubai: The DFM advanced 3.0%, to reach 2,137.8, bolstered by Emaar Properties, Dubai Financial Market and Emirates NBD, which gained 6.2%, 5.7% and 2.4% respectively
• Abu Dhabi: The Abu Dhabi benchmark index ended the day 0.1% in the black at 2,950.9. Heavyweights National Bank of Abu Dhabi, Aldar Properties and Abu Dhabi Commercial Bank rose 1.9%, 1.7% and 0.9% respectively
• Kuwait: The Kuwaiti bourse climbed 1.2%, to end the day at 7,330.0, driven by Boubyan Bank, National Bank of Kuwait and Mobile Telecommunications, which added 5.9%, 5.3% and 3.5% respectively
• Qatar: The Qatari bourse closed 0.4% higher at 6,957.6, led by Industries Qatar, Qatar Gas Transport and Qatar National Bank, which rose 0.9%, 0.9% and 0.5% respectively
• Egypt: The EGX30 benchmark index added 0.5% today, to end the day at 6,652.6, led by Al Ezz Dekheila Steel, EFG Hermes Holding and Telecom Egypt, which gained 1.8%, 1.3% and 1.1% respectively
• Oman: The MSM30 benchmark index added 0.1%, to close at 6,336.9. Heavyweights National Bank of Oman, Bank Dhofar and Oman Telecom rose 1.2%, 0.5% and 0.2% respectively
• Bahrain: The Bahraini bourse shed 0.2%, to end at 1,505.9, undermined by Ithmaar Bank and Al Baraka Banking, which fell 4.4% and 1.6% respectively
Economy and business news
• Sharq eyes operations in 1Q10: Eastern Petrochemicals (Sharq), a JV between SABIC and Mitsubishi, has started trial productions at the third-phase expansion in Jubail and expects to start full actual production in the first quarter of 2010. The third-phase expansion will annually add 1.3mn tons of ethylene and 0.7mn tons of ethylene glycol. (Tadawul)
• Al-Waha begins operations: Al-Waha Petrochemical Company, a JV between Sahara Petrochemical Company and LyondellBasell, has started a 450,000 tons/year polypropylene line in its new complex in Al-Jubail industrial city. The facility is based entirely on LyondellBasell’s "Spherizone" process technology. (Plastmart.com)
• Saudi Hollandi awards contract to replace payments systems: Saudi Hollandi awarded S1 Corporation, a leading global provider of financial services and payments software solutions, a contract to provide new integrated payments platform to support the bank's ATM network and card management operations across the Kingdom. (GlobeNewsWire)
Click here to download the complete report
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All data at market close |
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