MIDEAST STOCKS-Corporate news boosts Egypt, Gulf mixed | Reuters:
"Positive corporate news boosted Egypt's stock market on Thursday while Gulf bourses were mixed in modest volumes because of a lack of fresh incentives.
Egypt's index rose 0.6 percent to 6,428 points, bouncing further from technical support on its November low of 6,302 points.
Financial firm Pioneers Holding gained 3.0 percent after reporting its consolidated nine-month net profit after taxes and minority interests almost doubled; non-consolidated profit rose 11 percent."
'via Blog this'
Thursday, 26 November 2015
Oil eases on glut, production outlook | Reuters
Oil eases on glut, production outlook | Reuters:
"Oil fell on Thursday as fears of escalating violence causing supply disruption in the Middle East faded and focus returned to a persistent market glut and increased global output.
Brent was down 46 cents to $45.71 a barrel at 0859 GMT.
West Texas Intermediate (WTI) futures were down 21 cents at $42.83 per barrel after the U.S. crude rose to $43.30 earlier the session.
A day earlier oil recorded a sixth consecutive gain after a smaller-than-expected U.S. inventory build and a fall in U.S. oil rig counts. Investors also trimmed short positions ahead of the Thanksgiving break in the United States."
'via Blog this'
"Oil fell on Thursday as fears of escalating violence causing supply disruption in the Middle East faded and focus returned to a persistent market glut and increased global output.
Brent was down 46 cents to $45.71 a barrel at 0859 GMT.
West Texas Intermediate (WTI) futures were down 21 cents at $42.83 per barrel after the U.S. crude rose to $43.30 earlier the session.
A day earlier oil recorded a sixth consecutive gain after a smaller-than-expected U.S. inventory build and a fall in U.S. oil rig counts. Investors also trimmed short positions ahead of the Thanksgiving break in the United States."
'via Blog this'
General Atlantic, Warburg Acquire Stake in Network International - Bloomberg Business
General Atlantic, Warburg Acquire Stake in Network International - Bloomberg Business:
"General Atlantic LLC and Warburg Pincus LLC, two U.S. private equity firms, acquired a 49 percent stake in United Arab Emirates-based payments processing company Network International LLC.
Emirates NBD, which established Network International in 1994, will continue to hold a 51 percent stake, according to a statement from Network. No further details were given.
The Abraaj Group, which agreed to acquire a stake in Network International in 2010, had earlier sought an initial public offering for the business, people familiar with the matter said in June. Network International serves more than 70 banks and financial institutions in Middle East and North Africa and more than 17,000 individual merchants, according to Abraaj’s website. The deal is the first for General Atlantic in the Middle East."
'via Blog this'
"General Atlantic LLC and Warburg Pincus LLC, two U.S. private equity firms, acquired a 49 percent stake in United Arab Emirates-based payments processing company Network International LLC.
Emirates NBD, which established Network International in 1994, will continue to hold a 51 percent stake, according to a statement from Network. No further details were given.
The Abraaj Group, which agreed to acquire a stake in Network International in 2010, had earlier sought an initial public offering for the business, people familiar with the matter said in June. Network International serves more than 70 banks and financial institutions in Middle East and North Africa and more than 17,000 individual merchants, according to Abraaj’s website. The deal is the first for General Atlantic in the Middle East."
'via Blog this'
MIDEAST STOCKS-Saudi, Egyptian markets edge up | Reuters
MIDEAST STOCKS-Saudi, Egyptian markets edge up | Reuters:
"The Saudi Arabian and Egyptian stock markets were firm in early trade on Thursday but trading in Riyadh focused on second-tier stocks, suggesting many local and foreign institutional investors were staying away.
The Saudi stock index edged up 0.3 percent as Jazan Development, an agriculture and real estate firm, added 5.7 percent.
Egypt's index rose 0.4 percent as financial firm Pioneers Holding gained 4.1 percent after reporting an 11 percent rise in nine-month net profit."
'via Blog this'
"The Saudi Arabian and Egyptian stock markets were firm in early trade on Thursday but trading in Riyadh focused on second-tier stocks, suggesting many local and foreign institutional investors were staying away.
The Saudi stock index edged up 0.3 percent as Jazan Development, an agriculture and real estate firm, added 5.7 percent.
Egypt's index rose 0.4 percent as financial firm Pioneers Holding gained 4.1 percent after reporting an 11 percent rise in nine-month net profit."
'via Blog this'
Israel’s Leviathan agrees $10bn deal to export gas to Egypt - FT.com
Israel’s Leviathan agrees $10bn deal to export gas to Egypt - FT.com:
"Partners in Israel’s Leviathan offshore gasfield have reached a preliminary agreement to export gas to Egypt’s domestic market over 10-15 years, setting up a deal worth an estimated $10bn over the period.
News of a memorandum of understanding between Leviathan and Egyptian group Dolphinus lifted Israeli energy stocks on Wednesday, after a period in which their prices had been depressed by regulatory uncertainty and concerns over competition from a newly discovered “supergiant” offshore gasfield."
'via Blog this'
"Partners in Israel’s Leviathan offshore gasfield have reached a preliminary agreement to export gas to Egypt’s domestic market over 10-15 years, setting up a deal worth an estimated $10bn over the period.
News of a memorandum of understanding between Leviathan and Egyptian group Dolphinus lifted Israeli energy stocks on Wednesday, after a period in which their prices had been depressed by regulatory uncertainty and concerns over competition from a newly discovered “supergiant” offshore gasfield."
'via Blog this'
MIDEAST STOCKS-Gulf markets mixed in opening minutes | Reuters
MIDEAST STOCKS-Gulf markets mixed in opening minutes | Reuters:
"Gulf stock markets were mixed in the opening minutes of trade on Thursday amid a lack of fresh corporate news to spur buying.
Dubai's index slipped 0.5 percent as real estate shares weakened, with Emaar Properties down 0.8 percent.
A report by industry consultants Cluttons on Wednesday said residential property prices in Dubai had declined for five successive quarters and were likely to fall a further 3-5 percent over the next 12 months."
'via Blog this'
"Gulf stock markets were mixed in the opening minutes of trade on Thursday amid a lack of fresh corporate news to spur buying.
Dubai's index slipped 0.5 percent as real estate shares weakened, with Emaar Properties down 0.8 percent.
A report by industry consultants Cluttons on Wednesday said residential property prices in Dubai had declined for five successive quarters and were likely to fall a further 3-5 percent over the next 12 months."
'via Blog this'
Subscribe to:
Posts (Atom)