With Saudi Arabia and Egypt seeing values drop, UAE and Kuwait lead Arab Markets

With Saudi Arabia and Egypt seeing values drop, UAE and Kuwait lead Arab Markets
2.5 5

Published December 16th, 2013 - 14:28 GMT via SyndiGate.info

Rate Article:

 
PRINT Send Mail
comment (0)
With the exception of Saudi Arabia and Egypt, the traded value of Arab equities almost doubled in the first ten months of 2013 led by the UAE and Kuwait, according to a recent research note of Mubasher.
With the exception of Saudi Arabia and Egypt, the traded value of Arab equities almost doubled in the first ten months of 2013 led by the UAE and Kuwait, according to a recent research note of Mubasher.
Follow >
Click here to add Amr Hussain Elalfy as an alert
Amr Hussain Elalfy
,
Click here to add Arab Bank as an alert
Arab Bank
,
Click here to add Commercial Bank of Qatar as an alert
Commercial Bank of Qatar
,
Click here to add Commercial International Bank as an alert
,
Click here to add Dhabi Commercial Bank as an alert
Dhabi Commercial Bank
,
Click here to add First Gulf Bank as an alert
First Gulf Bank
,
Click here to add Global Telecom as an alert
Global Telecom
,
Click here to add Mubasher Trade as an alert
Mubasher Trade
,
Click here to add Ooredoo as an alert
Ooredoo
,
Click here to add Qatar Electricity & Water as an alert
Qatar Electricity & Water
,
Click here to add Sabic as an alert
Sabic

Two banks and two real estate and one logistics companies received the top billing among UAE’s stocks in Mubasher Financial Services’ “Mena Favourite List” released on Sunday.

Abu Dhabi Commercial Bank, Aldar Properties, Aramex, Emaar Properties and First Gulf Bank figured in their first such list. The list comprises of 20 stocks in five markets of the region, which include Egypt, Jordan, Qatar, Saudi Arabia and the UAE.

Mubasher Trade Research recommended Arab Cotton Ginning, Commercial International Bank, EFG Hermes, Global Telecom, National Maize, Telecom Egypt and TMG Holding in Egypt; Arab Bank in Jordan; Commercial Bank of Qatar, Ooredoo and Qatar Electricity & Water in Qatar and Mobily, SABIC, SABB (Saudi British Bank) and Saudi Ceramics in Saudi Arabia.

With the exception of Saudi Arabia and Egypt, the traded value of Arab equities almost doubled in the first ten months of 2013 led by the UAE and Kuwait, according to a recent research note of Mubasher.

The turnover of equities jumped 93 per cent compared to a year ago to $114 billion, said Mubasher Trade in a press statement. It was led by UAE, which witnessed a surge of 201 per cent to $51 billion followed by Kuwait, which rose 71 per cent to $36 billion.

Amr Hussain Elalfy, CFA, Global Head of Research at MubasherTrade Research said, “We expect traded values to improve in 2014, particularly in Egypt [provided political stability is restored] and in Qatar and the UAE with the effective inclusion of both markets in MSCI Emerging Markets Index. Meanwhile, Saudi Arabia will continue to have the lion’s share of Arab markets’ equities traded values with further upside expected whenever the market is opened to foreign investors. Consensus estimates suggest double-digit earnings growth in 2014 [Egypt +20 per cent, Qatar+14 per cent, Saudi Arabia +19 per cent, and the UAE +10 per cent].”

Advertisement

© Al Nisr Publishing LLC 2013. All rights reserved.

Add a new comment

 avatar