Latest news with #AhmedNegm
Business Recorder
5 days ago
- Business
- Business Recorder
Abu Dhabi index gains on oil surge, Dubai falls on profit-taking
Abu Dhabi index closed higher on Friday, supported by an increase in oil prices after the European Union introduced new sanctions against Russia, while the Dubai index declined after investors moved to book profit on last five sessions' gains. The EU sanctions, aimed at punishing Moscow over its war in Ukraine, include fresh measures targeting the Russian oil and energy industry and lower the G7's price cap for buying Russian crude oil to $47.6 per barrel. Oil prices - a key catalyst for Gulf's financial market - rose 0.75% to reach $70.04 a barrel by 1106 GMT. Abu Dhabi's benchmark index recorded gains for the fourth session with the index finishing 0.2% higher, led by a 1.7% jump in Emirates Telecom Group, while its biggest lender First Abu Dhabi Bank added 0.5%. Dubai's main index meanwhile fell 0.2%, ending a five-day winning streak after reaching its highest level in 17 and a half years during the previous session. Losses were driven by a decline in financial sector stocks as Dubai's top lender Emirates NBD Bank dropped 2.4% after three consecutive session gains, while Commercial Bank of Dubai slumped 3.6%. However, budget airline Air Arabia rose by 0.8%, continuing its upward trend after Air Arabia Abu Dhabi announced plans to increase its operational capacity by 40% in 2025. The Dubai index saw profit-taking on Friday, but its sustained rally last week has pushed the index to a key resistance level. Next week's corporate earnings may provide the catalyst needed to break through this barrier, said Ahmed Negm, Head of Market Research MENA at Most Gulf markets in red Dubai's index went up 4.1% and Abu Dhabi's rose 2% in their fourth week of gains, according to LSEG data. Markets remain steady, supported by positive corporate earnings and stable oil prices, though global developments continue to have an impact on investor confidence, said Ahmed Negm. ----------------------------------- ABU DHABI up 0.2% to 10,262 DUBAI down 0.2% to 6,094 -----------------------------------
Zawya
11-04-2025
- Business
- Zawya
Mideast Stocks: Dubai bourse eases amid US-China trade war; Abu Dhabi gains
Dubai's stock market slipped on Friday, weighed down by investor concerns over the rapidly intensifying U.S.-China trade war and its potential economic impact, although the Abu Dhabi index finished higher. Beijing on Friday increased its tariffs on U.S. imports to 125%, hitting back against U.S. President Donald Trump's decision to hike duties on Chinese goods to 145% and raising the stakes in a trade war that threatens to upend global supply chains. Dubai's main share index fell 0.2%, hit by a 2.2% drop in blue-chip developer Emaar Properties and a 4.8% slide in Commercial Bank of Dubai. However, the Dubai index managed to eke out a weekly gain of 0.3%. Regionally, markets were significantly impacted this week by ongoing trade tensions between the U.S. and its economic partners, said Ahmed Negm, Head of Market Research MENA at In Abu Dhabi, the index added 0.4%, helped by a 1.7% rise in Alpha Dhabi Holding. Oil prices - a catalyst for the Gulf's financial markets - rose, but still headed for a second straight week in the red on concerns about a prolonged trade war between the United States and China. According to Negm, persistently low oil prices continue to pose a risk to the market and investor sentiment. Abu Dhabi rose 0.4% to 9,158 Dubai fell 0.2% to 4,966
Reuters
11-04-2025
- Business
- Reuters
Dubai bourse eases amid US-China trade war; Abu Dhabi gains
April 11 (Reuters) - Dubai's stock market slipped on Friday, weighed down by investor concerns over the rapidly intensifying U.S.-China trade war and its potential economic impact, although the Abu Dhabi index finished higher. Beijing on Friday increased its tariffs on U.S. imports to 125%, hitting back against U.S. President Donald Trump's decision to hike duties on Chinese goods to 145% and raising the stakes in a trade war that threatens to upend global supply chains. Dubai's main share index (.DFMGI), opens new tab fell 0.2%, hit by a 2.2% drop in blue-chip developer Emaar Properties ( opens new tab and a 4.8% slide in Commercial Bank of Dubai ( opens new tab. However, the Dubai index managed to eke out a weekly gain of 0.3%. Regionally, markets were significantly impacted this week by ongoing trade tensions between the U.S. and its economic partners, said Ahmed Negm, Head of Market Research MENA at In Abu Dhabi, the index (.FTFADGI), opens new tab added 0.4%, helped by a 1.7% rise in Alpha Dhabi Holding ( opens new tab. Oil prices - a catalyst for the Gulf's financial markets - rose, but still headed for a second straight week in the red on concerns about a prolonged trade war between the United States and China.
Zawya
17-03-2025
- Business
- Zawya
Omani stock market continues its downtrend while welcoming its first IPO of 2025
Muscat: The Omani stock market experienced a slightly negative performance during the week, marking its fifth consecutive week of losses. This downward trend reflects the broader regional market performance, where most markets ended negatively, according to an industry watcher. 'Sentiment remains exposed to global conditions, particularly the escalating trade tensions as the US implements tariffs on its economic partners. This has prompted retaliatory measures, increasing overall economic uncertainty,' said Ahmed Negm, Head of Market Research MENA at Oil prices have also had a significant impact on the Omani market, especially considering the current low levels and the commodity's critical importance for regional economies, even though prices stabilised this week at their support levels, he further said. 'The Omani stock market, like other regional markets, could continue to be influenced by developments in trade tensions and oil price movements, while any improvements could potentially help the market recover,' said Ahmed Negm. The Omani market saw the introduction of Asyaad Shipping, the first initial public offering (IPO) in the Omani market this year. This follows a successful offering that enriches the market's diversity and increases its appeal to international investors, providing a positive note amidst the current challenging market conditions. Performances on the sector level this week were mixed across the Omani stock market. The Industrial sector emerged as the worst performer with a decline of 2.66%. Within this sector, Oman Cement fell by 1.42%, while Oman Flour Mills experienced a more significant drop of 8.06%. Al Anwar Ceramic also contributed to the sector's poor performance with a 5.83% decrease. The Services sector similarly finished on the negative side, declining by 0.99%. In this segment, Oman Telecom saw a modest decrease of 0.25%, while OQ Gas Networks fell by 0.77%. Renaissance Services registered a more substantial decline of 4.64%, further weighing on the sector's overall performance. The Financial sector stood out as the only positive performer this week, demonstrating resilience amidst the broader market weakness. National Bank Oman led this sector with a 7.14% gain and was the market's most traded stock based on value and volume. Oman Emirates Holding rose by 1.56%, while Muscat Insurance delivered the strongest performance with a substantial rise of 45.94%. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
15-03-2025
- Business
- Times of Oman
Omani stock market continues its downtrend while welcoming its first IPO of 2025
Muscat: The Omani stock market experienced a slightly negative performance during the week, marking its fifth consecutive week of losses. This downward trend reflects the broader regional market performance, where most markets ended negatively, according to an industry watcher. 'Sentiment remains exposed to global conditions, particularly the escalating trade tensions as the US implements tariffs on its economic partners. This has prompted retaliatory measures, increasing overall economic uncertainty,' said Ahmed Negm, Head of Market Research MENA at Oil prices have also had a significant impact on the Omani market, especially considering the current low levels and the commodity's critical importance for regional economies, even though prices stabilised this week at their support levels, he further said. 'The Omani stock market, like other regional markets, could continue to be influenced by developments in trade tensions and oil price movements, while any improvements could potentially help the market recover,' said Ahmed Negm. The Omani market saw the introduction of Asyaad Shipping, the first initial public offering (IPO) in the Omani market this year. This follows a successful offering that enriches the market's diversity and increases its appeal to international investors, providing a positive note amidst the current challenging market conditions. Performances on the sector level this week were mixed across the Omani stock market. The Industrial sector emerged as the worst performer with a decline of 2.66%. Within this sector, Oman Cement fell by 1.42%, while Oman Flour Mills experienced a more significant drop of 8.06%. Al Anwar Ceramic also contributed to the sector's poor performance with a 5.83% decrease. The Services sector similarly finished on the negative side, declining by 0.99%. In this segment, Oman Telecom saw a modest decrease of 0.25%, while OQ Gas Networks fell by 0.77%. Renaissance Services registered a more substantial decline of 4.64%, further weighing on the sector's overall performance. The Financial sector stood out as the only positive performer this week, demonstrating resilience amidst the broader market weakness. National Bank Oman led this sector with a 7.14% gain and was the market's most traded stock based on value and volume. Oman Emirates Holding rose by 1.56%, while Muscat Insurance delivered the strongest performance with a substantial rise of 45.94%.
