Month: December 2016

Oil Prices Falls After A Surprise Increase In US Crude Stocks

New York – Oil Prices fell on Thursday after a surprise increase in US crude inventories caused a rebound in prices for bullishness pushed to get closer to their highest level since July last year.

Data from the US Energy Information Administration that commercial crude stocks in the United States recorded an unexpected increase for the second week in a row with the ascent 614 thousand barrels last week while analysts had forecast for a drop of 2.1 million barrels.

Oil Prices

Oil Prices

The information management that crude stocks in the US decades delivery center in Cushing, Oklahoma rose by 172 thousand barrels.

It fell US Brent crude contracts for West Texas Intermediate 29 cents, or about 0.54 percent recorded at the settlement of $ 53.77 a barrel.

And it closed the global Brent crude contracts for Brent low 8 cents, or 0.14 per cent to settle at 56.14 dollars a barrel.

The weak trading volumes with the absence of many investors in the year-end holidays.

Oil Prices scored big gains this month to their highest levels this year after the OPEC countries agreed Others Producers on production cuts in an attempt to balance the oil market is affected by the abundance of supplies.

Middle East Stock Markets Rise But Trading Volumes Are Shrinking

Dubai – Arabic Gulf stock markets posted gains simple on Sunday after oil prices resumed climb again towards the highest level in 17 months at the end of last week, but trading volumes shrank across the region. Egyptian Stock Exchange rose supported by buying from foreign investors.

And it stepped up crude futures for Brent International benchmark 2.2 percent, to settle at $55.21 a barrel on Friday after Goldman Sachs lifted its forecast for crude prices in 2017 and showed signs of producers to hold on to a global agreement to cut production.

DFM

DFM

Saudi petrochemical stocks rose on Sunday, with the rise of the shares of all listed companies produced the 14 shares which pushed the main index of the Saudi market to rise 0.7 percent. Jumped Sahara Petrochemical shares a medium-sized producer of 7.1 percent, its best performance.

Saudi shares rose cables 2.5 percent after the company said that the Turkish unit won an order worth $ 50 million and the financial impact will begin to emerge by the end of the second quarter of next year.

It rose Saudi National shares maritime transport (maritime) 1.5 percent after the company announced that its Board of Directors proposed a dividend of 2.5 riyals per share for 2016, which was similar to that of 2015. The total dividend of six percent, according to data from Thomson Reuters.

The benchmark Dubai market almost stable with a decline in trading volume to the lowest level in five weeks, which refers to the absence of many institutional investors dramatically on Sunday and who played a key role last week.

The leadership pushed the general index of the Abu Dhabi stock market to rise 0.8 percent, with higher shares of Dana Gas 1.9 percent and First Gulf Bank’s two percent.

And shut down the stock markets in Bahrain and Qatar for a public holiday.

He added the main index of the Egyptian Stock Exchange 0.6 percent to 11,398 points in the trading volume was the lowest of its kind since the central bank floated the Egyptian pound on the third of November, called up in the market.

Stock exchange data showed that foreign investors remained net buyers of Egyptian stocks narrowly in the continuation of a trend that started with the floating currency.

Shares of Orascom Telecom, media and technology 2.6 percent and was the most heavily traded in the market.

And Steel jumped ten percent after the company last week posted a significant rise in third-quarter sales even as they continue to record losses.

But the castle Holding shares declined 3.3 percent after it widened net loss for the company in the third quarter of the year to 208 million Egyptian pounds ($ 11.2 million) compared with a loss of 136 million pounds a year ago.

Analysts attributed at Naeem Brokerage in a note the losses to poor operating performance in continuous and non-continuous and allowances reduced value and high interest cost of operations, expecting more “painful allocations and reduce the value” in the next quarter.

The following closing stock market indices in the Middle East:

Saudi Arabia .. The index rose 0.7 percent to 7138 points.

Egypt .. The index climbed 0.6 percent to 11,398 points.

Dubai .. index increased 0.01 percent to 3555 points.

Abu Dhabi .. index rose 0.8 percent to 4497 ​​points.

Kuwait .. index fell 0.3 percent to 5651 points.

Oman .. The index fell 0.01 percent to 5728 points.

US Dollar Consolidating Near Its Highest Level In 14 Years

NEW YORK – US Dollar Consolidating Near Its Highest Level In 14 Years; The US dollar fell against a basket of major currencies on Friday, but it’s still near the highest level in 14 years, which touched after the Fed meeting (Fed) on Wednesday, where profits curb the rise of the US currency taking.

Scored dollar index, which tracks the US currency’s performance against a basket of six major currencies in the latest 102.900 transactions to remain close to its highest level in 14 years and that it reached on Thursday at 103.560, but a decline of 0.12 percent on the day.

US Dollar

US Dollar

The index rose 1.2 percent on Thursday, its biggest daily percentage gain in nearly six months, a day after the central bank raised US interest rates for the first time in a year. The Fed also signaled that it is likely to increase interest rates three times in 2017, up from a forecast two increases in the central meeting in September Minutes.

Analysts said the sell-off to profit-taking ahead of the weekend in the United States and expectations of pressure on the dollar liquidity trend with year-end limited the dollar’s gains on Friday.

The euro rose in the latest reading against the dollar 0.2 percent to $ 1.0433, after reaching its lowest level in nearly 14 years at $ 1.0364 on Thursday, while the dollar fell 0.2 percent against the Japanese currency to 117.94 yen after hitting its highest level in about a dozen and a half months at 118.66 yen on Thursday.

And against the Swiss franc, the dollar fell in the latest trading 0.3 percent to 1.0268 francs after 1.0344 francs level it touched on Thursday, its highest level since August 2010.

Wall Street Retreat Influenced Oracle Shares Fall

NEW YORK – US stocks fell Friday on Oracle shares fall by more than four percent in the time it registered the real estate and utilities shares of the biggest gains after falling lately.

US Stocks

US Stocks


The Dow Jones industrial average was 8.32 points, or the equivalent of 0.04 percent to 19,843.92 points, while the Standard & Poor’s 500 index down by 3.97 points or 0.18 percent and the Nasdaq Composite Index fell 19.69 points, equivalent to 0.36 per cent to 5437.16 points