Dubai Stock Market rises with the rise of Dubai shares for parks and resorts

Dubai bourse outperformed other sluggish Gulf stock markets in early trading on Wednesday,

with the 

rise of Dubai shares for parks and resorts by speculative buying.

Dubai's index rose 0.6 percent and Dubai shares for parks and resorts acquired 60 percent of the transactions and the stock rose five percent to high record reached up to 1.26 dirhams before its gains trimming to 4.2 percent.

The stock jumped 2.6 percent on Tuesday, although the company, which is building a number of recreational parks has not made any announcements and do not expect to make a profit before 2018.

Shares of Amlak for Finance was the second most heavily traded stock on the exchange and rose 1.4 percent. Amlak shares had seen a wave of speculation since the resumption of its trading this month after its stop for six years during which the company has restructured its debt.

Other Gulf markets didn't witness remarkable movements where the general index of Abu Dhabi market rose 0.3 percent, while Qatar and Oman bourses are stable

However Lights Holding Omani Company rose 1.9 percent after the company announced that unity the Falcon for Insurance Company plans to conduct an initial public offering of shares. The company did not reveal any details.

 Kuwaiti indicators fell in early trading on Wednesday, affected by losses of a number of leading stocks and poor liquidity with weak activity of dealers in the month of Ramadan.

The price index of the market went down 0.16 percent to 6249 points, while Kuwait 15 Index fell 0.65 percent to 1022.7 points.

Declines of the market led heavyweight Zain share, which fell 3.4 percent, followed by shares of National Bank of Kuwait and Burgan bank by losses of 1.1 percent for each share.

In contrast, Gulf Bank shares rose1.8 percent and Viva rose 1.08 percent.

In general, KMEFIC & Housing & Rai & Safat for Energy and Ahli shares rose by rates ranging between 2.7 and 3.7 percent while Kuwaiti, Masaleh and Asia shares decreased by rates ranging 
between 3.8 and 6.15 percent down.

Dubai Stock Market allow investors to complete their transactions through 15 electronic service

Dubai Financial Market launched on Sunday an integrated system of electronic services for investors, providing them a smooth and efficient communication experience to enable them to complete their transactions in the market and follow up their investments across multiple channels, including the market applications for smart phones and its website.

And this collection of investors' electronic services represents basic underpinnings of the market project –which is currently under implementation- for complete transition to "smart Stock Exchange" during the next phase Inspired by the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai.

With the launch of this integrated system, Dubai Financial Market may be reinforced the list of services that can be accomplished through electronic channels to include a wide range of services  for investors to complete their transactions easier and follow-up their activities in the market over time and wherever they are.

Among the new services that have been added to the list of electronic services for investors, "revealing the cash profits account service" & "Aavestr card transactions" and "electronic payment" Whether by "Visa" or "Mastrcar" or "Aavestr" cards" .

Dubai Financial Market has strengthened online application service by adding a new list which investors can fill and submit electronically.

Also the market provides direct messages between the investor and the Dubai Financial Market for general inquiries service, also Home page of the investor has been updated so as to enable access to eight different types of account statements, including, for example, the current balance of the shares the market value and the last five carried out transactions.

Saada Essa Kazim, Chairman of Dubai Financial Market said in a press statement today that the market occupies leading position in terms of taking the initiative and precedence to take advantage of technological developments in the best possible way.

He added that the Dubai Financial Market launched from where others have ended as it relied on the most advanced technological systems since the first day and the march of development in the market did not stop since then to provide smart and innovative solutions to all customers.

The number of registered investors in the Investor Electronic Services reaches currently to 14 thousand and 297 investor where the market process on the implementation of an intensive awareness campaign either by communication with investors through text messages and e-mail or through the website of the market and the media aiming at the definition of such services and to urge more numbers of investors to take advantage of it.

Investors can easily register through the website of the market by using e-mail and investor Number..

Mary Fekry Executive Vice Executive Chief of Operations, Chairman clearing, settlement and depository sector on the Dubai Financial Market explained that among the most prominent advantages in registration in e-services of the market that when an investor log successfully in his account, means the completion of the verification process of his identity in one and a final time and then he will not be compelled to signature on any subsequent requests provided to the market.

She pointed out that the Dubai Financial Market could through launching electronic Investor Services to provide 73 per cent of the basic services to investors in the market through various electronic channels allow them to accomplish the service effectively and easily and pay the required fees without wasting time or effort.

Maged Kabara: opening the Saudi Stock Market for foreigners will reduce the weight of Egypt in «Morgan Stanley»

Saudi Stock market opened its doors to foreigners on Monday June 15, according to the decision of the Capital Market Authority in the Kingdom, which was announced by the end of last year and many experts consider it a big step which would have an impact on all the money markets in the region, including Egypt, particularly as it will pave the way for the Saudi market to join indicators of global emerging markets such as Morgan Stanley, which is important evidence which guide investors around the world who seek good investment opportunities in such markets

Kabara Says that The opening of the Saudi market for foreigners will pave the way for its accession to the Morgan Stanley index in 2017, in line with expectations, which means relatively decreasing weight of other region markets on this indicator for Saudi, especially the Saudi market with large number of companies compared to neighboring markets that meet requirements to join the Morgan Stanley index such as the size of liquidity and market capitalization.

Morgan Stanley index includes Egypt, the UAE and Qatar markets in the region, Saudi Arabia is one of the largest of these markets, where market capitalization has value to about 570 billion $, and daily trading is about two billion dollars on average, and also includes about 165 listed companies. The Egyptian market has achieved the best performance according to the Morgan Stanley for Emerging Markets Index in 2014.

Although Kabara believes that opening the Saudi market to foreigners, could lead to the withdrawal of some of the investments from the region's markets to Saudi, but the decision is expected to contribute to increase the appetite of foreign investors in general to the region in the long term, after the expected accession to Morgan Stanley index, «because it will expand available investments and draws attention more to the region's markets, especially for investors who are not realize it. »

Recall that before the global financial crisis in 2008, foreigners were not allowed to invest in the Saudi market only through investment funds, then added to it indirect way to invest through swap operations through an agreement with a local brokerage company to buy shares to be owned by the company and the foreign investor gets its revenue.

Kingdom will not open market door to foreigners completely, but there will be still strict conditions, which Kabara sees that it will reduce the size of the entry of foreigners to the market, such as managed assets of the financial institution that is willing to invest in the Saudi market not be less than 5 billion $ size, and also the size of Foreign investment in one company's stock not more than about 20%, and the percentage of ownership of one investor not exceed more than 5%, and the ratio of total foreign ownership cannot be more than 10% of the total market value of the market, and also prohibits foreigners to buy shares at companies which its main activity in the regions of Mecca and Medina.

And perhaps these conditions are justified, from the standpoint of Kabara, especially as the primary goal of opening up the market to foreigners, is to increase the participation of institutions in a market individuals dominate 90% of transactions, a larger proportion of those in Egypt, where individuals controlled 70% of total trading, which contributes to provide more stability and reduce volatility, and also increase transparency in the state whose economy is one of the 20 largest economies in the world.

Kabara sees that the Saudi market unlikely will witness big rise in the short term due to the opening of the market, «especially as it has increased significantly since the beginning of the year affected by the announcement of opening of the market, and that this step came into force before the start of the month of Ramadan, which when the market activity decreases usually in Kingdom».

Saudi index rose slightly in the first day, before falling in two consecutive days, then rose yesterday in early trading slightly as well.

Saudi Stock Market enters stabilization phase prior to entry of «foreigners»

Saudi stock market entered a phase of remarkable stability prior to seek of foreign financial institutions to invest in the local financial market; it comes at a time when the Saudi stock ended the week trading too slightly low, which means that the index entered the market in the stabilization phase.

The stability and narrow volatility in the financial markets is considered important indicators of anticipation, in order to see the effect of a particular command on market transactions, this comes at a time when the Saudi stock market approaching the transition to a new historical stage, represented in direct openness to foreign financial institutions, something which will happen soon in the middle of next month.

In light of these developments, replicates of the Saudi stock market can predict the market trading at levels of 20 replicates Currently, however, a high-ranking official in one of the financial arms of the Saudi banks, confirmed to the «Middle East» yesterday, that some foreign financial institutions that intend to invest in the Saudi shares market, spotted about 11 trading companies, which is considered one of the most important currently available investment opportunities in the Saudi capital market.

And these assertions come at a time when the Saudi stock market index ended last week trading on a slight decline by 0.1 per cent, which is equivalent to only 11 points, closing at 9757 points, compared to last week closing at 9768 points.

According to the closure of the last week, the Saudi stock market index has recorded during the month of May a decline rate stands at 0.8 per cent, with loss of 77 points, compared to the close of trading of last April, while 9 sectors in the market trading week finished with losses, led by «the petrochemical sector» by 2 per cent, followed by the «Banks and financial services», and «hotels and tourism» by 1 per cent. According the same regard, shares of 81 companies ended lower, while shares of other 80 companies ended up, and shares of 4 companies settled at the same level as last week. Also trading value this week has seen a decline, with a total value amounted to about 37.34 billion riyals (9.9 billion $), compared with 42.78 billion riyals (11.4 billion dollars) during the preceded week.

In a related context, Faisal Alequab, financial and technical expert confirmed to the «Middle East» yesterday, that the continuation of the Saudi stock market index in trading between 9700 and 9800 point level, amid remarkable decline in cash flow, is an important indicator of the anticipation, and said: «Traders await the middle of the next month, the date of the entry of foreign financial institutions for direct investment in the Saudi stock market. »

He pointed out that the Saudi stock market index is currently moving in accidental in technical analysis point of view, noting that the period of s this track may prolong, but going out of it in any way require new cash flow target purchasing and Sales Operations, which did not happen in the Saudi market trading so far.

These developments come at a time when Saudi Capital Market Authority expressed great optimism by-step of opening the local stock market in the country to foreign financial institutions for direct investment, stressing at the same time that; foreign specialist investors will contribute to the reduction of high volatility in prices.

In this context, Mohammed Jadaan, chairman of Saudi Financial Market Authority board confirmed Finally that there are several targets that Kingdom aimed to achieve them by allowing foreign financial institutions eligible to invest in listed stocks in the Saudi financial market, , the most important of them is attracting specialist investors to promote institutional investment and raising the research and studies level about Saudi financial market.

Chairman of the Saudi Capital Market Authority also stressed that the rules that prepared by the body took into account its compliance with the relevant systems in the Kingdom, as well as it took the views of specialists in mind who participated with their proposals in a period of 90 days in which the Commission published rules draft on its website.

AMANAT Co. purchasing share in "Al-Nour Hospitals" was done by a lower price than Stock market.

The company (AMANAT), listed Dubai Financial Market, said that the acquisition of 4.14% of the shares of Al-Nour hospitals, listed on the London stock exchange was done by the least of the market price per share.

The company added, in a statement published by Dubai market, in response to the queries of the Securities and Commodities, the purchase price was 9.02 pounds per share, while the closing price per share, on 20 May (the date of the implementation of the deal) is 9.29 pounds, up arrow to 9.57 pounds in the May 22.

The company has announced , Thursday 21 may that it had bought a share in Al-Nour hospitals group , out of the market, with a value of 250 million dirhams (68 million US dollars), up 4.8 million shares, representing 4.14% of the group's shares.

The company said that the Governing Council approved the purchase on 15 May, and the company did the implementation of the process of acquisition, by the National Bank of the United Arab Emirates Dubai on 19 May, the confirmation of the  bank to implement the process came  on the evening of  Wednesday 20 may.

AMANAT noted that the Group of Al-Nour hospitals, was founded in 1985, is today one of the largest providers of health care services Abu Dhabi, through its huge group consisting of: 3 hospitals, 17 clinics, and Medical Center.

The company declared- earlier -that it had signed a contract for possessing the company on the company's share in basic health care sector in the Kingdom of Saudi Arabia, and that the contract is expected to be completed during the next six month, which is subject to approval by the specialized authorities, and the Council of Administration.

The financial statements of the company during the first quarter of 2015 revealed that the net profit of about 1.47 million dirhams.

AMANAT Holding Company was established in November 2014, by a group consisting of: 37 from local and foreign investors, with a capital of up to 2.5 billion dirhams, to work in the health care and education sectors.

The shares of "AMANAT" in Dubai Financial Market, starting from a session Sunday 30 November, in the third bay inserts the market during 2014.

The company capital is  2.5 billion dirhams, distributed to 2.5 billion shares, nominal value of one dirham per share.

Dubai Stock Market rises thanks to "Arabtec" and "banks"

Dubai Financial Market ended Monday's session in green, to come back its gains supported by gains in the real estate sector led by Arabtec besides banks and investment.

And the general index of the market closed up by 0.44%, adding 17.7 points to his tally which rose up to the level of 4067.67 points, to offset some of the losses on Sunday.

The market index ended the first week's sessions in red, raising its losses by the end of the session to 1.67%, falling to its lowest level in May.

Analysts said for "Mubasher" that: The UAE stock markets could see gathering operations on the blue chip stocks and the stocks with good profitability trading.

Industry gains was on the top by the end of the session with a rise of 6.88% in light of the rise of the national cement shares to the level of 4.350 dirhams, up by the same percentage.

Talal El-Khoury, Executive Chief Officer of "Alawaael" Holding Company said that: The UAE markets witnessed a "weak performance" in Monday session despite cohesion, which appeared in poor liquidity.

Al Khoury added for "Mubasher" that the big stocks have not seen good activity in both markets, and activities were focused on small stocks, if we exclude Arabtec stock in Dubai, which came back to its positive activity after a wave of declines.

And the real estate sector closed up by 0.45%, with direct support from Arabtec which achieved a rise of 2.15%, while the closure of Emaar came down by 0.87%.

And investment sector recorded a rise of 0.62% at the close supported by gains of Dubai Investments, which amounted to 0.68%, as well as rise of Dubai Financial Market up to 0.52%.

The closure of the banking sector rose by 0.19% in the face of rising of Emirates NBD, Dubai Islamic by 0.51% and 0.14% respectively.

Talal Al Khouri pointed out that the UAE markets could see some of the other rises, but then may enter in a wave of declines with the approach of the month of Ramadan and summer holidays.

In contrast, the telecom sector closed in red, down by 0.39% in light of falling of de share down to the level of 5.080 dirhams.

Monday session witnessed a continuation of the low liquidity, the trading values ​​fall to about 369 million dirhams compared to 388.26 million dirhams in the previous session, with trading volume reached 266.74 million shares compared to 230.75 million shares in the session on Sunday.

Al Khour noted in his interview for "Mubasher" that the markets that have been exposed to a negative performance during the month of June over the recent years, which creates a kind of fear among traders from repeating this "scenario" through next June.

In 4 June 2015, Dubai Stock Market will apply trading period according to the latest closing price.

 Dubai Financial Market announced on Monday its intention to apply the upgraded version of the "pre-closing session", as well as the introduction of "trading period according to the latest closing price", starting on Thursday, June 4, 2015.

A press statement which "Mubasher" received a copy of it pointed to that: "pre-closing session " will provide with its new form, a framework for regulating the various operations of input and cancel orders, and matching buy and sell orders, while "trading period according to the latest closing price" and its duration is of 5 minutes, allow for investors to put their orders in accordance with the closing price (the bid price calculated through the system).

The Dubai Financial Market has applied a "pre-closing session," initially in May last year.

The new arrangements comes as outcome of extensive discussions with dealers in the market, as part of the continuing efforts of the market for the development of its infrastructure in line with the best practices in this area.

Under that developed formula "session before the closure" will be from one o'clock and 45 minutes at noon to one o'clock and 55 minutes and 20 seconds. And "the session" includes on a timetable regulates the introduction of new commands and modify or cancel it, and includes three phases: commands input phase, ban cancel orders stage, and matching buy and sell orders phase.

As it is the case since the adoption of the market for pre-closing session, this session is a "commands accumulation period", allowing for brokers and investors to input deferred implementation orders until the completion of the matching process.

With regard to the "trading period according to the latest closing price" it would be between one o'clock and 55 minutes and 20 seconds till two o'clock and 20 seconds, allowing for brokers and investors to put enforceable orders, whether new orders, or pre-entered, according to the closing price only and reliance to be on the previous closing price in the absence of a new closing price during the same meeting.

"The main advantages of the trading period according to the latest closing price" is one of the many Dubai Financial Market initiatives; to keep up with the market upgrade by MSCI Foundation.

The trading period according to the latest closing price will contribute to reduce the likelihood of an imbalance in the Order Book if the margin was between the prices of supply and demand during the session before the closure was high.

The trading period according to the latest closing price also promotes the efforts of investment institutions to re-balance transactions, as well as deal flow of customers; regardless of session's data before closing that have a significant impact on the price matching process before closing.

And "the session" allows for investors trading opportunity, or modifies ranking on the basis of the closing price.