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Muhammad Shaker – Mubasher: UAE financial market indices declined at the end of the week’s trading, in light of data indicating that the cycle of reducing interest rates may not begin early, and tensions continuing to escalate in the Middle East region.

According to data from the UAE financial markets, the Dubai Financial Market recorded losses during the week estimated at 409 million dirhams, and the losses of the Abu Dhabi Securities Market amounted to 23 billion dirhams, with a total loss amounting to 23.409 billion dirhams.

At the end of this week’s trading, the Dubai Financial Market Index declined by about 0.56 percent, reaching the level of 4081 points at the end of this week’s trading, compared to about 4104 points at the end of the previous week’s trading.

The market value of Dubai shares recorded 698.225 billion dirhams by the end of the week, compared to about 698.634 billion dirhams the previous week, with losses amounting to 409 million dirhams.

The Abu Dhabi Securities Market index also declined by 0.80 percent, recording 9,712 points at the end of this week’s trading, compared to about 9,791 points the previous week.

The market value of Abu Dhabi shares reached 2.876 trillion dirhams by the end of the week, compared to a value of 2.890 trillion dirhams the previous week, with losses amounting to 23 billion dirhams.

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Nominations:

The Abu Dhabi Stock Exchange index rose to its highest level in 3 months in mid-trading

2024-01-19 11:52:43
#market #UAE #stock #exchanges #loses #billion #dirhams #week

Abu Dhabi – Mubasher: Profit-taking operations continued to pressure the path of UAE financial market indices for the third session in a row.

The Dubai Securities Market index fell by 0.46% to 4,082.34 points, with BMH Capital topping the list of decliners by 10% to 3.51 dirhams, Dubai National Insurance by 9.091% to 4.5 dirhams, and National International by 7.246% to 1.28 dirhams.

Shuaa also fell by 6.356% to 0.221 dirhams, and Aramex fell by 3.721% to 2.07 dirhams.

While the stocks that rose the most were Aman, 3.261% at 0.475 dirhams, Empower 2.703%, at 1.9 dirhams, Ittaba, 1.969%, to 0.259 dirhams, and Tecom, 1.465%, to 2.77 dirhams.

For its part, the Abu Dhabi Market Index fell by 0.17% to 9,761.36 points, with Baldco shares falling by 9.86% to 0.256 dirhams, Insurance House by 8.39% to 0.819 dirhams, and Hayah Insurance by 8.33% to 1.10 dirhams.

Foodco shares also fell by 6.33% to 1.48 dirhams, and Fujairah Cement shares fell by 5.19% to 0.365 dirhams.

The highest gainers in the Abu Dhabi market were Gulf Investment Bank, which rose 14.85% to 2.63 dirhams, Commercial International Bank, 6.06%, to 0.7 dirhams, and Americana Restaurants, 3.68%, to 3.38 dirhams.

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Nominations:

2024-01-16 12:18:10
#UAE #financial #markets #decline #consecutive #session

Noha Makram – Live- Gold prices rose today, Monday, to exceed the $2,050 level with improved investment appetite in safe haven assets resulting from escalating tensions in the Middle East and renewed bets on the Federal Reserve cutting interest rates early.

The spot price of gold rose by 0.2% to $2,053.69 per ounce, at 04:35 GMT, after recording the largest daily gains on Friday since the twelfth of December.

US gold futures also rose 0.3% to $2,057.70.

As the Israel-Hamas war reached its 100th day and the Houthis vowed to respond to US air attacks, tensions rose in the Middle East.

While traders ignored the US CPI data exceeding expectations, while the data showed, on Friday, a surprising decline in US producer prices during December, which pushed 10-year Treasury bond yields to decline.

Traders are now anticipating that the Federal Reserve will cut interest rates by 166 basis points this year, higher than Friday’s bets of a 150 basis point cut.

Traders also expect 79% of the Fed to start cutting interest rates in March.

Wang Tao, a technical analyst at Reuters, said that the spot price of gold may break the resistance level of $2,060 per ounce and rise to a range of $2,071-2,079 per ounce.

In terms of other precious metals, the spot price of silver rose by 0.4% to $23.25 per ounce, while platinum jumped by 0.8% to $913.07.

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Nominations:

Gold rises as Middle East tensions enhance the attractiveness of safe-haven assets

Gold rises globally amid the weakness of the dollar and anticipation of US inflation data

US inflation beats expectations and rises 0.3% in December

2024-01-15 06:45:44
#Gold #prices #rise #globally #renewed #interest #rate #cut #bets

Cairo – Mubasher: Gold prices rose on the global stock market by 0.2 percent, at a value of $4, during the week’s trading ending yesterday evening, Friday, due to increasing fears of the escalation of the conflict in the Middle East region due to the air strikes on Yemen, which led to an increase in demand for gold as a safe haven.

Saeed Embabi, CEO of the “iSagha” platform for trading gold and jewelry online, said that gold prices rose in the local markets by about 5 pounds during today’s transactions, Saturday, and compared to the end of yesterday’s transactions, so that the price of a gram of 21 carat gold recorded about 3,260 pounds, coinciding with the holiday. Weekly report on the global stock market, after it closed yesterday at $2049.

He added that a gram of 24 karat gold recorded 3,726 pounds, a gram of 18 karat gold recorded 2,794 pounds, while a gram of 14 karat gold recorded about 2,174 pounds, and a gold pound recorded about 26,080 pounds.

Gold prices rose by 35 pounds in local markets during yesterday’s trading, Friday, as the price of a gram of 21 karat gold opened trading at 3,220 pounds, and concluded trading at 3,255 pounds, while an ounce rose in value by about 24 dollars, as trading opened at 2,025 dollars. , and transactions concluded at the level of $2049.

Mbabi pointed out that geopolitical tensions contributed to the rise in gold prices on the global stock market yesterday, after America and Britain launched an air strike on the Houthis in Yemen, and gold prices had declined following the release of US inflation data last Thursday.

The US Bureau of Labor Statistics revealed that the main and core consumer price indices rose on an annual basis in December, which reinforces the US Federal Reserve’s continuation of raising interest rates during the coming period.

The main consumer price index on an annual basis for the month of December recorded an increase of about 3.4 percent, and expectations indicated an increase of only 3.2 percent, after recording 3.1 percent last November.

On a monthly basis, the main inflation measure rose by 0.3 percent in December, and expectations were at 0.2 percent, while the reading recorded in November was 0.1 percent.

While the core consumer price index (excluding food and energy) recorded on an annual basis 3.9 percent in December, and experts’ expectations indicated an increase of only 3.8 percent, while last November’s reading recorded 4 percent.

On a monthly basis, it recorded 0.3 percent in December, which is what experts expected, and it is the same percentage recorded in the November reading as well.

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Nominations:

Bitcoin is suffering huge losses…and attention is turning to Ethereum

The price of gold in Egypt today, Saturday, during morning trading

Professor of Finance at Cairo University: The Egyptian economy is “rigid” and a new floatation of the pound will not benefit

The performance of US stock indices varied at the close of trading on Friday

Gold prices globally jump at the close of trading on Friday

Suez Canal President: 40% decrease in canal revenues in the first 11 days of 2024

Autumn: The Kingdom is committed to plans for economic diversification and creating job opportunities for citizens

2024-01-13 12:28:54
#Jewelers #Geopolitical #tensions #contributed #rise #global #gold #prices

Direct: The US Securities and Exchange Commission denied, on Tuesday, its approval of launching exchange-traded funds to invest in “Bitcoin,” following a post on its official account on the “X” platform that claimed it had adopted the expected procedure.

Gary Gensler, head of the committee, said through his personal account in “X” that the authority’s account was hacked and an unauthorized tweet was published through it.

Gensler added that the US Securities and Exchange Commission has not yet approved the listing of spot ETF products for the cryptocurrency Bitcoin.

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Nominations

Egypt aims to achieve $45 billion in tourism revenues by 2030

Egypt aims to increase agricultural exports to $14 billion by 2030

Egypt aims for medicine exports to reach $5 billion by 2030

Egypt plans to manufacture 400 to 500 thousand cars annually by 2030

2024-01-10 00:47:55
#Securities #Commission #denies #approving #Bitcoin #fund

Noha Makram – Live – The majority of Asian markets rose on Tuesday, recovering from a selling wave witnessed in the previous session, with the Nikkei index recording its highest levels in 33 years on the back of gains in technology stocks.

The index rose by 1.16% to close at its highest levels since March 1990 at 33,763.18, and the Topix index rose by 0.82% to close at 2,413.09.

Tokyo’s inflation rate slowed to 2.4% in December from 2.6% the previous month, while core inflation, which excludes volatile prices such as food, held steady at 2.1%, in line with expectations.

The Hang Seng Index in Hong Kong also rose by 0.34%, while the Chinese main index, the CSA 300, remained high by 0.29%.

While the South Korean KOSPI index fell by 0.26% to 2,561.24, making it the only index that slid into the red zone after Samsung Electronics, the heavyweight in the index, lowered its profit expectations for the fourth quarter of 2023.

During evening trading in the United States, the three major indices rose supported by technology stocks.

Nvidia shares rose 6.4%, reaching their highest levels ever, while Amazon shares jumped nearly 2.7%, pushing the Nasdaq index higher. Alphabet shares rose by 2.3%, while Apple shares rose by 2.4%.

The S&P 500 index also rose by 1.41%, and the Nasdaq Composite rose by 2.2%, which is the best performance for the index since the fourteenth of November.

The Dow Jones Industrial Average rose 216.90 points, or 0.58%, to settle at 37,683.01.

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Nominations:

European stocks rose at the end of Monday trading

US stocks were mixed in early trading on Monday

Global equity funds attract huge inflows on hopes of a rate cut

2024-01-09 11:34:41
#Japans #Nikkei #index #rises #highest #levels #years