Palestinian bourse slumps, Tunis up

Published April 9th, 2001 - 02:00 GMT

The Palestinian stock market continued its downward spiral over the week losing 5.1 percent, while the Tunisian exchange finished up 4.7 percent, Bakheet Financial Advisors (BFA) reported Saturday, April 7. 

 

The Al-Quds index, which has labored under Israeli "economic attacks" since the Intifada began in September, closed at 158.29 points, down more than 40 percent on its position six months ago. 

 

Flying on the back of Tunis Air stocks, which rose 20.9 percent, the Tunindex closed at 1,396.29 points. 

 

Fortune also favored Bahrain this week, where the BSE index closed at 1,668.93 points, up slightly 1.6 percent, thanks largely to movements of Batelco telecoms shares. 

 

Etisalat telecoms shares undermined the bourse in The United Arab Emirates where the NBAD dropped 2.4 percent to close at 2,474.84. 

 

Kuwait's KSE index also finished down over the week slipping 2.2 percent to 1,430.90 points. 

 

Saudi Arabia's NCFEI index, the highest capitalized in the Arab world, followed its neighbor's trend to close on 2,241.16 points, down 0.4 percent. 

 

Markets in Qatar were steady compared to last week, the CBQ index finishing at 205.16 points. 

 

In Lebanon, the market continued its upward trend. The BLOM index gained 0.9 percent at 507.05. 

 

In North Africa, Egypt's Hermes Financial Index finally rose after plunging to its lowest value in seven years last week finishing on 6,017.71 points, up 1.7 percent. Morocco's CSE finished half a percent lower at 684.35. 

 

The ASE in Jordan was dragged down by 1.2 percent to 136.97. — (AFP, Riyadh) 

 

© Agence France Presse 2001

© 2001 Mena Report (www.menareport.com)

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