MIDEAST STOCKS-Saudi slips as SABIC falls ahead of Q2 results | Reuters:
"Saudi Arabia's stock market barely moved in early trade on Thursday as heavyweight Saudi Basic Industries (SABIC) fell and investors focused on smaller stocks such as insurance companies which have already reported their earnings.
The main Saudi index inched down 0.1 percent and SABIC, down 0.7 percent, was the main drag. The company is expected to report second-quarter results on Sunday, although some of its subsidiaries have already posted their own reports.
Yanbu National Petrochemical Co and Saudi Arabia Fertilizers Co have both reported year-on-year declines in second-quarter earnings, although the falls were not as big as some analysts had expected."
'via Blog this'
Thursday, 23 July 2015
MIDEAST STOCKS-Saudi slips as SABIC falls ahead of Q2 results | Reuters
MIDEAST STOCKS-Saudi slips as SABIC falls ahead of Q2 results | Reuters:
"Saudi Arabia's stock market barely moved in early trade on Thursday as heavyweight Saudi Basic Industries (SABIC) fell and investors focused on smaller stocks such as insurance companies which have already reported their earnings.
The main Saudi index inched down 0.1 percent and SABIC, down 0.7 percent, was the main drag. The company is expected to report second-quarter results on Sunday, although some of its subsidiaries have already posted their own reports.
Yanbu National Petrochemical Co and Saudi Arabia Fertilizers Co have both reported year-on-year declines in second-quarter earnings, although the falls were not as big as some analysts had expected."
'via Blog this'
"Saudi Arabia's stock market barely moved in early trade on Thursday as heavyweight Saudi Basic Industries (SABIC) fell and investors focused on smaller stocks such as insurance companies which have already reported their earnings.
The main Saudi index inched down 0.1 percent and SABIC, down 0.7 percent, was the main drag. The company is expected to report second-quarter results on Sunday, although some of its subsidiaries have already posted their own reports.
Yanbu National Petrochemical Co and Saudi Arabia Fertilizers Co have both reported year-on-year declines in second-quarter earnings, although the falls were not as big as some analysts had expected."
'via Blog this'
MIDEAST STOCKS-Gulf markets slip, Emaar Malls weighs on Dubai | Reuters
MIDEAST STOCKS-Gulf markets slip, Emaar Malls weighs on Dubai | Reuters:
"Gulf equity markets edged down in early trade on Thursday, led by Dubai where Emaar Malls Group (EMG) slightly disappointed investors with its second-quarter earnings.
Dubai's index fell 0.5 percent as EMG and its parent Emaar Properties slipped 1.2 percent each.
EMG reported a 43 percent rise in second-quarter net profit to 412 million dirhams ($112.2 million). Investment bank EFG Hermes had forecast EMG would make 445 million dirhams and Naeem brokerage had expected 425 million. Quarter-on-quarter, EMG's net profit fell 5 percent."
'via Blog this'
"Gulf equity markets edged down in early trade on Thursday, led by Dubai where Emaar Malls Group (EMG) slightly disappointed investors with its second-quarter earnings.
Dubai's index fell 0.5 percent as EMG and its parent Emaar Properties slipped 1.2 percent each.
EMG reported a 43 percent rise in second-quarter net profit to 412 million dirhams ($112.2 million). Investment bank EFG Hermes had forecast EMG would make 445 million dirhams and Naeem brokerage had expected 425 million. Quarter-on-quarter, EMG's net profit fell 5 percent."
'via Blog this'
Investment, growth and tax justice: Corbyn outlines economic vision & fairer taxes for Britain 2020 - Jeremy Corbyn for Labour Leader
Investment, growth and tax justice: Corbyn outlines economic vision & fairer taxes for Britain 2020 - Jeremy Corbyn for Labour Leader:
'via Blog this'
- "Stronger anti-avoidance rules brought into UK tax law.
- The aim of country-by-country reporting for multinational corporations.
- Reform of small business taxation to tackle avoidance and evasion.
- Enforce proper regulation of companies in the UK to ensure that they pay what they owe.
- A reversal of the cuts to staff in HMRC and at Companies House, taking on more staff at both, to ensure that HMRC can collect the taxes the country so badly needs."
'via Blog this'
Emerging markets can take only so much of a beating - FT.com
Emerging markets can take only so much of a beating - FT.com:
"Here are a few connected facts. Emerging markets have now given back all their outperformance versus developed markets since they became winners on the back of Chinese stimulus in late 2008. Mining stocks in the FTSE World Mining index are back where they stood at their lowest post-Lehman point. And inflation in Brazil just passed 9 per cent for the first time in more than a decade.
Everything connected to commodities, including a large chunk of emerging markets, looks atrocious. Weakness in Chinese demand and a depressed growth outlook have trashed prices of main commodities, hitting miners. Economic and political cracks long covered up by easy profits from commodity production are being revealed as prices crash, with Brazil, Russia and South Africa all suffering.
Investors are responding in the traditional way to a strengthening dollar: they are dumping emerging markets and slashing exposure to commodities."
'via Blog this'
"Here are a few connected facts. Emerging markets have now given back all their outperformance versus developed markets since they became winners on the back of Chinese stimulus in late 2008. Mining stocks in the FTSE World Mining index are back where they stood at their lowest post-Lehman point. And inflation in Brazil just passed 9 per cent for the first time in more than a decade.
Everything connected to commodities, including a large chunk of emerging markets, looks atrocious. Weakness in Chinese demand and a depressed growth outlook have trashed prices of main commodities, hitting miners. Economic and political cracks long covered up by easy profits from commodity production are being revealed as prices crash, with Brazil, Russia and South Africa all suffering.
Investors are responding in the traditional way to a strengthening dollar: they are dumping emerging markets and slashing exposure to commodities."
'via Blog this'
MIDEAST STOCKS-Banks lift Abu Dhabi to 8-month high, most markets up | Reuters
MIDEAST STOCKS-Banks lift Abu Dhabi to 8-month high, most markets up | Reuters:
"Most major Middle East stock markets rose on Wednesday on positive second-quarter earnings and news that the United Arab Emirates would cut domestic diesel prices.
Saudi Arabia's main index added 0.5 percent, supported by National Petrochemical Co (Petrochem), which surprised analysts with strong quarterly earnings.
Petrochem surged 7.4 percent after the company posted a 55 percent increase in net profit that it attributed, among other factors, to cheaper feedstock. It reported just before the extended Eid al-Fitr break which began last week."
'via Blog this'
"Most major Middle East stock markets rose on Wednesday on positive second-quarter earnings and news that the United Arab Emirates would cut domestic diesel prices.
Saudi Arabia's main index added 0.5 percent, supported by National Petrochemical Co (Petrochem), which surprised analysts with strong quarterly earnings.
Petrochem surged 7.4 percent after the company posted a 55 percent increase in net profit that it attributed, among other factors, to cheaper feedstock. It reported just before the extended Eid al-Fitr break which began last week."
'via Blog this'
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