Zawya.com - Saudi SE News

Holidays weigh on Gulf stocks

Sat, 21 Nov 2009 07:13:14 GMT

Most Gulf stock markets extended losses this week ahead of Eid Al-Adha holidays due to start on Nov. 26, financial analysts said Friday.

Global: Saudi Market 9M-2009 Result Review (19-Nov-09)

Thu, 19 Nov 2009 13:39:00 GMT

Saudi corporates were affected by the downturn in the global economy which negatively impacted their profitability. Aggregate profits reported by Saudi companies fell by 24.9 percent in the third quarter of the year 2009 compared to the corresponding period of last year, as they stood at SR17.6bn in 3Q2009, down from SR23.4bn in 3Q2008. Nonetheless, third quarter?s results showed improvement when compared to the first and second quarters of the current year, up 62 percent and 11.3 percent respectively.

Overall profitability for 9M2009 decreased by 37.1 percent in comparison to results reported a year earlier. Saudi corporations registered SR44.2bn in net profits in the first nine months of the year 2009, compared to SR70.3bn in the corresponding period of 2008.

Kuwait index at 33-week low, TASI slightly down

Thu, 19 Nov 2009 07:05:00 GMT

Kuwaiti mobile telephone firm Zain's and logistics provider Agility took a beating on Wednesday and hammered the index to a 33-week low.

Global: Daily Technical Overview - GCC Markets (18-Nov-09)

Wed, 18 Nov 2009 14:25:00 GMT

This is a PDF report.

Saudi Almarai wants half of Egypt dairy market-report

Wed, 18 Nov 2009 08:10:35 GMT

Saudi-based Almarai Co says it plans to take a 50 percent share of the dairy market in Egypt, the Arab world's most populous nation, by 2013, a newspaper reported on Tuesday.

Maxis IPO evidence of STC's investment vision: Daweesh

Tue, 17 Nov 2009 06:31:47 GMT

Maxis Telecommunications Company, a Binariang Group company, is listed on the Malaysian Stock Exchange as of Thursday after offering 30 percent of its shares for public subscription. The IPO was covered by 230% and succeeded in becoming the largest IPO operation in the history of Malaysia and Southeast Asia.

Danieli to build SABIC steel plant

Mon, 16 Nov 2009 08:11:32 GMT

Saudi Basic Industries Corp. (SABIC) affiliate Hadeed said it had signed a deal with Italian foundry equipment maker Danieli for the construction of a steel plant in Saudi Arabia.

Mid-term Uncertainties Mar Emaar Progress At KAEC

Sun, 15 Nov 2009 06:51:47 GMT

Deutsche Bank, Germany's leading banker, has expressed concerns about the mid-term prospects of Emaar Economic City (EEC), the main developer of the King Abdullah Economic City (KAEC). The bank says that over 90 percent of the project is on paper.

GCC bourses see overvaluation of shares

Sun, 15 Nov 2009 06:28:03 GMT

After reeling under pressure during fourth quarter of 2008 and first quarter of 2009, the GCC markets picked up in the third quarter and continuing the upward march. Despite rise in indices, the DFM, Kuwait and Bahrain bourses recorded drop in their market capitalisation.

Kuwait: Performance of GCC markets 'end in red'

Sat, 14 Nov 2009 09:11:38 GMT

The performance of- GCC markets were depressed during Oct-09 as all GCC markets ended the month in red. Among its peers Kuwait witnessed hardest hit as it declined by 7.2 percent during the month.

Arab bourses volatile pending fresh moving factors

Sat, 14 Nov 2009 07:24:36 GMT

Middle East stock markets reflected mixed performances last week with speculation dominating the scene and investors looking for new clues that help to clarify the foggy picture of the global recovery, financial analysts said Friday.

STC's stake in Maxis to fall after IPO

Thu, 12 Nov 2009 06:58:00 GMT

Saudi Telecom Company (STC) said on Wednesday its 25 percent stake in Maxis Bhd would fall to 17.5 percent after Malaysia's biggest mobile phone operator sells shares to the public.

Kuwait stocks biggest loser in Gulf; TASI gains

Thu, 12 Nov 2009 06:27:25 GMT

Kuwait's stock index posted the biggest decline in the Gulf Arab region on Wednesday as concerns over the outlook of heavyweight Zain clouded investor sentiment.

Mena equity markets decline by 1.8% on negative global cues

Wed, 11 Nov 2009 07:27:20 GMT

The Middle East and North Africa (Mena) equity markets fell by 1.8 per cent in October reducing year-to-date (YTD) gains to 24 per cent.

NCB Capital: GCC Economic Monthly (Nov-09)

Wed, 11 Nov 2009 05:14:00 GMT

This is a PDF report.

TASI slides in October

Tue, 10 Nov 2009 05:46:04 GMT

JEDDAH - Stock markets across the Middle East and North Africa (MENA) region dropped by 1.8 percent in October.Kuwait was the poorest performing Arab market in October as it lost 6.0 percent bringing year to date losses to 5.6 percent.The Saudi...

United Securities: Monthly GCC Top Picks (09-Nov-09)

Mon, 09 Nov 2009 11:45:00 GMT

This is a PDF report.

NCB Capital: 3Q09 Earnings Were Good Enough, a Strong Q4 Expected (08-Nov-09)

Sun, 08 Nov 2009 09:02:00 GMT

3Q09 Earnings Were Good Enough, a Strong Q4 Expected

· 8 of 15 sectors in the Saudi market reported YoY aggregate earnings growth in 3Q09 versus just 3 sectors over the past few quarters.

· 57 companies reported YoY earnings growth in 3Q09, up from 37 in 2Q09.

· 64 companies reported YoY earnings declines in 3Q09, however this was an improvement from the 79 in 2Q09.

· The overall YoY decline in market ea

NBK Capital: MENA in Focus (05-Nov-09)

Thu, 05 Nov 2009 13:03:00 GMT

This is a PDF report.

KAMCO: GCC Equity Markets Monthly Review (Oct-09)

Sun, 01 Nov 2009 10:14:00 GMT

This is a PDF report.

Global: GCC Monthly Market Review (Nov-09)

Sun, 01 Nov 2009 07:17:00 GMT

In continuation of Global Investment House coverage on the GCC markets, we have come out with GCC Market Review ? November 2009.

The performance of GCC markets were depressed during Oct-09 as all GCC markets ended the month in red. Among its peers Kuwait witnessed hardest hit as it declined by 7.2 percent during the month. On the other hand, Saudi market remained quite resilient in terms of monthly change as it witnessed a marginal fall of 0.9 percent during Oct-09. With 3Q2009 earning season was well underway during the month, investors paid close attention to corporate announcements and reshuffled their portfolios accordingly.

On the macro front, the price of oil has risen above US$81 a barrel, a new high for the year, as hopes rise that the global economic recovery is picking up pace. The price of oil has risen in recent weeks, largely on the back of strong company results in the US which have fuelled optimism for the global economic recovery.