Libya rebels seek oil export boost from `minimal` levels

Transcription

ZAPATERO
RULES OUT
NEW MOVES
TO CUT SPAIN
DEFICIT
YUAN HITS
FRESH
TRADING
HIGH
AGAINST THE
DOLLAR
PAGE 27 | GLOBAL ECONOMY
PAGE 31 | MARKET MATRIX
“
Bullion Market
GOLD
PRICE
1,461.20
PERCENTAGE
PRICE
+0.52%
40.11
SILVER
PERCENTAGE
+0.86
Crude oil
USD / BBL
BRENT
WTI
PRICE
PERCENTAGE
121.65
106.74
+0.60
+0.46
Please send all press
releases, coverage requests
and invitations regarding
business events meant for
Qatar Tribune to
[email protected]
Businessline
Mubarak’s detention spurs
Egyptian stock market
EGYPT’S benchmark stock index
rallied moderately on Wednesday,
gaining as investors hoped that
the detention of former President
Hosni Mubarak and his two sons
may allay growing frustrations with
the pace of reforms and accountability in the country. The Egyptian
Exchange’s EGX30 index was up
slightly over 1.1 percent by 12:30
pm Cairo time on Wednesday,
recouping some of the 1.4 percent
decline recorded in the previous
day’s session. (PG27)
Rush for iron ore shows sign
of losing steam
SPOT offers of iron ore to China
were steady on Wednesday while
global price indexes were mixed,
reflecting market concerns that
Chinese steel mills may be slowing
down their purchases given the
recent rapid rise in spot prices.
Most Chinese steelmakers, the
biggest consumers of iron ore,
have cut steel prices for May
bookings, suggesting a stockpilingfuelled rush for iron ore may soon
lose steam.
(PG31)
Information
KIOSK
Exchange Rate
sell QR
3.6485
5.32
5.9547
0.0824
0.0435
0.0853
0.03368
0.0505
0.0517
0.0438
13.284
0.9736
9.486
0.9938
9.691
Source: www.dohabank.com.qa
GCC Market
Qatar
Kuwait
Bahrain
Abu Dhabi
Dubai
Oman
Saudi Arabia
Libya rebels seek oil export
boost from ‘minimal’ levels
Claim to produce
100,000 bpd
index change %
8,815 +0.50%
6,369 +0.07%
-0.53%
1,401
2,659 +1.02%
1,600 +0.63%
6,375 +0.03%
6,558
-0.50%
Source: Agencies
REBELS trying to overthrow
Libyan leader Moamer Qadhafi
want to increase their exports of
crude oil to secure food and other
humanitarian aid, a spokesman
for the Libyan National Council
said on Wednesday.
The rebels control fields that
currently pump 100,000 barrels
per day of crude, Mahmud Awad
Shammam told reporters, but are
only exporting a “minimal”
amount of oil.
OPEC member Qatar, which has
offered to help the rebels market
their crude, said on Tuesday it had
facilitated the sale of 1 million barrels of oil as well as arranged the
shipment of at least four cargoes
of gasoline, diesel and other fuel to
the rebel stronghold of Benghazi.
“There is a formula but we are
not receiving any cash (for the oil).
Instead we are receiving aid,”
Shammam said, adding the rebels
still faced shortages of gasoline.
Libyan oil exports have been at a
virtual standstill since the crisis
errupted in March, helping send
crude prices to over $125 a barrel,
their highest level since July
2008.
Saudi Arabia and other OPEC
producers unilaterally boosted oil
output in an effort to compensate
for the loss of supplies but the
”
–CHRIS CORRIGAN
Fitch cuts,
withdraws
Libya’s
ratings
ZAWYA DOW JONES
DUBAI
RATINGS agency Fitch on
Wednesday downgraded and
withdrew Libya’s sovereign
ratings, citing extreme political instability, a collapse in oil
production and the freeze on
the Arab country’s sovereign
external assets following the
imposition of UN sanctions.
“Fitch is withdrawing the
ratings because it has insufficient information to maintain
coverage of the issuer,” it said
in an emailed statement.
DOHA
Qatar Islamic Bank (QIB)
announced a net profit of QR.
321 million up 7 percent over
Q1 2010. The core business of
the bank has grown strongly in
Q1, leading to a 26 percent
increase in operating income
which reached QR648 million in
the first quarter of 2011 compared to QR515 million in the
corresponding period last year.
Total Equity reached QR10.3 billion by end of the first quarter of
2011, an increase of 27 percent
compared to same period in
2010. (PG32)
buy QR
3.6315
5.2222
5.8835
0.0807
0000
0000
0000
0000
0000
0.04281
0000
0000
0000
0000
0000
You can’t overestimate the need to
plan and prepare. In most of the
mistakes I’ve made, there has been
this common theme of inadequate
planning beforehand. You really
can’t over-prepare in business!
REUTERS
QIB’s Q1 net profit up
at QR321mn
Currency
US
Euro
Pound Sterling
Indian Rupee
Pakistani Rupee
Philippine Peso
Sri Lankan Rupee
Bangladeshi Taka
Nepalese Rupee
Japanese Yen
Kuwaiti Dinar
Saudi Riyal
Omani Riyal
UAE Dirham
Bahraini Dinar
Thursday, April 14, 2011
PLANNING
Fitch withdrew the
ratings because of
insufficient information to maintain
the coverage
Expatriates prepare to board a ship going to Greece, from the Libyan harbour, in Benghazi, recently.
OPEC member Qatar,
which has offered to
help the rebels market
their crude, said on Tuesday it had facilitated the
sale of 1 million barrels
of oil and arranged the
shipment of at least four
cargoes of gasoline,
diesel and other fuel
kingdom throttled back output
recently due to slow demand,
sources told Reuters on Tuesday.
Oil market players believe Qatar
played a role in helping trading
IQ net rises
to QR2.1bn
ZAWYA DOW JONES
DOHA
PETROCHEMICAL and steel conglomerate
Industries Qatar (IQ), the country’s largest company by market value, on Tuesday posted a 75 percent rise in first-quarter net profit at QR2.1 billion
Qatari riyals ($576.62 million), compared with
QR1.2 billion in the corresponding quarter of 2010.
Earnings per share for the period came in at
QR3.81, compared with QR2.21 in the year-earlier
period, the company said in a statement on the Doha
bourse website. It didn’t give a reason for the rise in
earnings. IQ’s first-quarter effort easily beat
Nomura’s forecast of QR1.64 billion and is in line
with the QR2.15 billion analysts at Kuwait-based
Global Investment House had pencilled in. Rita
Guindy, analyst at EFG-Hermes in Cairo, said a higher contribution from IQ’s fertiliser and petrochemicals divisions would “partly explain the higher group
margins during the quarter.” Shares in the group
closed down 0.7 percent at QR143.60 on Tuesday in
a broadly negative market. Bellwether IQ sits at the
heart of Qatar’s strategy to diversify its economy
away from oil and gas. IQ’s steel, fertiliser and petrochemical subsidiaries are expanding production
capacity by building new plants as the group eyes
QR25 billion revenue by 2015, it said last month.
The company also last month said that unrest
sweeping the Arab world had a “limited impact” on
its business. Scott Darling, analyst at Nomura in
Dubai, said while he was impressed by IQ’s numbers, he was downbeat on the group’s plans to
expand its steel business. “Historically IQ’s steel
business, Qasco, has been a drag on profitability
relative to IQ’s other businesses owing to Qatar’s
pricing policy in steel,” he said. “Further investment in this business, which we assume in the long
term owes to the requirements for steel for the
World Cup, may not be positive for the overall
group profitability.”
house Vitol export a cargo of
Libyan crude earlier this month as
well as assisting rival Trafigura,
who sources said on Tuesday was
trying to arrange an export shipment from the port of Brega. Both
companies have declined to comment. Qatari officials would not
say whether the Gulf Arab state
was involved in the two crude
shipments.
Libya’s government has been on
US, EU and UN sanctions lists
since March. Although rebels have
been unofficially excluded from
(REUTERS)
them, oil majors say it will take a
long time before they can start
buying oil.
Meetings of the Libya Contact
Group will start in Qatar on
Wednesday regarding Libya’s
future, and will include representatives of the LNC.
The group will ask Western governments to provide $1.5 billion in
aid to help meet the needs of civilians in rebel-controlled areas and
would like to arrange to receive
humanitarian aid in return for oil
shipments, Shammam said.
The ratings firm cut Libya’s
long-term local and foreign
currency issuer default ratings to ‘B’ from ‘BB’/RWN.
The agency also downgraded
the country ceiling to ‘B’ from
‘BB’, and simultaneously
withdrew all the ratings.
“The stable outlook balances
the severity of the political and
economic situation with the
limited further downside to
creditworthiness given the
absence of sovereign debt,”
Fitch said. On Tuesday, troops
loyal to Col Qadhafi pounded
Misrata, in western Libya, with
artillery and mortar rounds,
and continued attempts to
make incursions into the city.
26
www.qatar-tribune.com
IN THE PIPELINE
Oil creeps
back above
$121 reversing
a deep sell-off
DEMAND TO DROP
REUTERS
LONDON
UK gas prices are indirectly affected by oil prices through oil-indexed continental European gas supply contracts.
UK gas slips on warm weather forecasts
REUTERS
LONDON
BRITISH wholesale gas prices
slipped across the board on
Wednesday as forecasts for
warmer weather weighed on
demand outlook, while curve
contracts tracked losses in the
crude market, traders said.
Gas demand is expected to
fall below current levels over
the coming days and next
week as temperatures are set
to climb above average levels
for April, according to
Britain’s Met Office.
Gas prices for delivery on
Thursday fell below the 60pence mark at 59.50 pence
per therm at 0820 GMT,
while weekend prices dropped
more than one pence to 58.10
pence.
“It’s due to get a lot warmer
over the next several days,
which will sap demand.
Consumption should drop
significantly going into next
week. There’s also still an
awful lot of liquefied natural
gas (LNG) being sent out,”
one gas market analyst at a
utility said.
Wednesday gas demand
rose slightly above average
levels, National Grid data
showed, after consumption
has been well below seasonal
norms due to warm weather.
Despite higher demand levels on Wednesday, prices
slipped as input from LNG
terminals remained strong
enough to cover around 35
percent of gas demand.
Britain’s three largest LNG
terminals added over 110 mil-
lion cubic metres to the market early on Wednesday, while
Norwegian imports through
the Langeled pipeline covered
around 7 percent of demand,
grid data showed.
Latest LNG netback data
shows Britain has become
less attractive as an export
destination and Qatar’s
Rasgas is planning 35-day
maintenance from early May
on its Train 3, which could
dampen the flow of LNG
exports heading for Britain
next month.
Curve contracts edged
lower in line with recent
heavy losses in the crude market.
Gas for delivery in winter
2011 fell nearly one pence to
71.60 pence, while summer
2012 prices traded at 65.00
pence, down 0.20 pence from
Tuesday’s close.
UK gas prices are indirectly
affected by oil prices through
oil-indexed
continental
European gas supply contracts.
In the over-the-counter
(OTC) power market, prices
remained low as demand is
expected to fall and lower gas
prices mean power can be
burnt more profitably.
Baseload
power
for
Thursday traded at 51.40
pounds per megawatt-hour
(MWh), in line with spot
prices seen on Tuesday.
National Grid data showed
Britain was exporting power
to the Netherlands via the
BritNed cable on Wednesday,
but was importing electricity
from neighbouring France.
OIL crept back above $121 on
Wednesday, partly reversing
a deep sell-off, as foreign ministers met for talks on Libya’s
future and the market awaited US inventory data for possible signs of demand attrition.
Wednesday’s modest gains
followed a two-day sell off
driven by comment from representatives of consumer
countries that high prices had
begun to depress consumption.
ICE Brent crude for May
rose by 33 cents to $121.25 a
barrel by 0851 GMT after hitting a session high of $122.19.
US crude for May delivery
shed two cents to $106.23.
The NYMEX contract’s 5.8
percent drop from Friday by
close of business on Tuesday
was the biggest two-day percentage loss since May 2010.
As traders and analysts
sought to analyse a range of
factors, the market mood was
cautious.
“There have been plenty of
negative factors for oil in the
last 48 hours,” Ben Le Brun,
Sydney-based analyst at CMC
Markets said.
“It’s probably not a bad
thing as inflation is the
biggest buzzword around the
market.” Reports from representatives of consumer countries
the
Paris-based
International Energy Agency
and the US government’s
Energy
Intelligence
Administration both said on
Tuesday high oil prices were
beginning to brake the pace of
economic growth and erode
demand for fuel.
Wild weather hits Rio Tinto
resources output
AFP
SYDNEY
GLOBAL mining giant Rio
Tinto on Wednesday said
Australia’s wild weather had
seen first-quarter iron ore
output shrink three percent
from a year earlier and steelmaking coal slump 12 percent.
The Anglo-Australian firm
said production had dropped
sharply as Australia’s north
was hit by record flooding
and tropical cyclones hammered the vast continent’s
east and west coasts.
“Our Australian coal, iron
ore, uranium and alumina
operations were affected by
the extreme weather in the
first quarter, but most are
recovering and are benefiting from continued strong
prices,” chief executive Tom
Albanese said.
Global iron ore fell three
percent from the first quarter
Output low
RIO TINTO CEO
TOM ALBANESE
of 2010 to 42 million tonnes
— a 16 percent plunge on the
previous record-breaking
quarter as cyclones and
flooding struck the mineralrich Pilbara region.
“The impact of three
tropical cyclones and additional tropical low depression systems caused outloading operations to be
suspended several times
during the quarter, with the
resultant loss of approximately nine shipping days,”
Rio said in its first-quarter
Our Australian coal,
iron ore, uranium
and alumina operations were affected
by the extreme
weather in the first
quarter, but most
are recovering and
are benefiting from
continued strong
prices.
operations report.
“Severe monsoonal rains”
in coal mining Queensland
state saw coking, or steelmaking, coal output slip 12
percent on-year to 1.6 million tonnes, which was 29
percent lower than the
fourth quarter of 2010.
Thermal coal, burned to
produce electricity, held at
a consistent level of 4.0 million tonnes, with other
Australian mines making
up the shortfall.
Rio had to declare force
majeure at all four of its
Queensland coal mines
after heavy flooding swept
the state, swamping tens of
thousands of homes and
killing more than 30 people. One of the mines
remains closed.
Albanese said Rio had
successfully taken control
of Mozambique-focused
coal miner Riversdale and
“plan to accelerate the
development of these significant tier one coking coal
assets.”
It had also expanded iron
ore capacity in the Pilbara
by five million tonnes in the
quarter to 225 million
tonnes per annum. Rio is
targeting 333 mtpa by the
second half of 2015.
Rio flagged annual iron ore
production of 191 million
tonnes, 9.3 million tonnes
for steelmaking coal and 18.2
million tonnes for thermal
coal.
Higher imports to ease China’s natural gas shortage by 2015
REUTERS
BEIJING
CHINA’S natural gas shortage may end from 2015 when
sizable imports begin to
flood the country, a
researcher with top Chinese
oil and gas firm China
National
Petroleum
Corporation (CNPC) said on
Wednesday.
Domestic production of
the fuel will trail demand by
40 billion to 80 billion cubic
metres (bcm) by 2015, up
from a deficit of some 25 bil-
lion cubic metres in 2010,
according to Xu Bo, a
researcher with CNPC’s
Research
Institute
of
Economics and Technology.
The shortage will remain
steady from 2015 to 2020 as
domestic production of nonconventional gas increases
and gas demand from the
chemical sector moderates
due to government policies,
Xu said on the sidelines of an
industry conference in
Beijing.
He said China would
import some 66 bcm of
The overall gas selling price by PetroChina, CNPC’s listed arm, was 1.29 yuan a cubic metre in 2009.
pipelined gas and 43 bcm of
liquefied natural gas in 2015
and more than double those
amounts by 2020, keeping
the market oversupplied.
But he cautioned the
demand-supply equation
could be tilted if Chinese gas
suppliers and consumers
think expensive foreign supplies are unaffordable.
Xu said CNPC made a loss
in selling Turkmenistan gas
to China and that the shortfall could widen this year as
import volumes increase and
prices rise in line with oil
prices under a quarterly
price adjustment scheme.
The overall gas selling
price by PetroChina, CNPC’s
listed arm, was 1.29 yuan a
cubic metre in 2009, while
import
costs
for
Turkmenistan gas amounted
to over 2 yuan a cubic metre
when the fuel reached the
Chinese border in northwestern Xinjiang, Wang Guoli, a
official with PetroChina’s
planning institute, said.
China’s only pipelined gas
imports
are
from
Turkmenistan.
GLOBAL ECONOMY
27
IMF presses
Europe to
shore up bank
balance sheets
REUTERS
WASHINGTON
Spain’s Prime Minister Jose Luis Rodriguez Zapatero (centre), before a press conference at the Spanish Embassy, in Beijing, on Wednesday.
(AFP)
Zapatero rules out new
steps to cut Spain deficit
AFP
BEIJING
SPANISH Prime Minister Jose
Luis Rodriguez Zapatero on
Wednesday ruled out new
budget cuts to help reduce his
country’s public deficit, after
winning China’s renewed support for buying Spanish debt.
Spanish and Chinese firms
signed deals worth about one
billion euros ($1.4 billion) during Zapatero’s lightning visit to
Beijing, aimed at securing
fresh investment to shore up
Madrid’s embattled economy.
“There are no new plans on
the horizon to have to take any
new (deficit reduction) measures. None,” Zapatero said.
“The government hopes to
push through new stimulus
measures,” the prime minister
said, insisting that his administration would see through
those reforms already undertaken and would not “lower its
guard”.
Zapatero’s socialist government has slashed spending and
passed pension reforms in its
effort to reassure markets worried that Spain’s public deficit
is unsustainably high.
It has also reformed the
labour market in an attempt to
revive the economy and fight
an unemployment rate of just
over 20 percent, the highest in
the industrialised world.
The country’s central bank
estimated late last month that
Spain’s public deficit will be
equal to 6.2 percent of gross
domestic product this year
before falling to 5.2 percent on
2012.
The government itself predicts the deficit will hit 6.0 percent in 2011 and 4.4 percent
next year, a sharp improvement but still well above the
European Union’s 3.0 percent
ceiling.
“The Spanish economy is still
in a difficult situation requiring
the pursuit of ambitious and
demanding policies to correct
the fiscal imbalances, while
pressing ahead with structural
reforms conducive to growth
and with the restructuring and
recapitalisation of the banking
system,” the bank said.
Concerns that
eurozone debt
troubles could
spread to Spain
pushed bond rates
sharply higher last
year.
Chinese Premier Wen Jiabao
said Tuesday in a meeting with
Zapatero that Beijing was ready
to buy more Spanish government debt and invest in the
restructuring of the savings
banks — crucial support for
Madrid’s efforts.
Zapatero, who headed from
Beijing to Singapore on
Wednesday, is seeking new
investments to shore up Spain’s
economy as it tries to avoid a
crisis in refinancing and raising
new debt.
He said China, the world’s
second-largest economy, now
holds about 12 percent of
Spain’s public debt — a major
increase from the four percent
it held at the start of the global
financial crisis.
“This increase (in investment) in Spanish debt was a
major factor boosting stability,
solvency and confidence in the
eyes of the markets,” Zapatero
said.
“China should be the priority
of our economic diplomacy,
which is a more and more
important element” of Spain’s
foreign policy, he noted, adding
he wanted the country to have
an export-driven economy
with a focus on emerging markets.
The European Union and
the International Monetary
Fund bailed out Ireland and
Greece last year and have now
offered to help Portugal.
Spain’s economy is as large as
that of Ireland, Greece and
Portugal combined.
Concerns that eurozone debt
troubles could spread to Spain
pushed bond rates sharply
higher last year, adding to the
costs of servicing the country’s
sovereign debt.
But such fears appear to
have eased since then as
Madrid strengthened bank balance sheets, cut spending and
pursued economic reforms.
Among the deals in Beijing,
Spain’s Gamesa Corporacion
Tecnologica SA signed agreements with both China
Resources Power Holdings Co
and China Datang Corp
Renewable Power Co to provide a total of 300 turbines.
Each company will get 150
turbines with a total capacity of
300 megawatts from Gamesa,
one of the world’s top wind turbine groups, which also signed
a strategic cooperation pact
with China Longyuan Power
Group Ltd.
MANY European banks
need bigger capital cushions to restore market confidence and help reduce the
risk of another financial crisis, the International
Monetary Fund said on
Wednesday.
Banks globally face a $3.6
trillion “wall of maturing
debt” coming due in the
next two years. The rollover
requirements are most
acute for Irish and German
banks, the fund said in its
Global Financial Stability
Report.
“These bank funding
needs coincide with higher
sovereign
refinancing
requirements, heightening
competition for scarce
funding resources,” the
IMF said.
Increasing the quantity
and quality of capital would
provide a greater cushion
against future losses and
help restore access to funding markets, it said.
Overall, the IMF said
global financial stability has
improved over the past six
months. The most pressing
challenges in the coming
months will be funding of
banks and sovereigns, particularly in vulnerable euro
area countries, it said.
US banks built up capital
buffers in 2009, when regulators completed a set of
stress tests that revealed
some large holes. But
European banks still need to
raise a “significant amount
of capital” to regain access
to funding markets, the
fund said.
“It is... imperative that
weak banks raise capital to
avoid a pernicious cycle of
deleveraging, weak credit
growth, and falling asset
prices,” it warned.
The European Central
Bank’s upcoming stress
tests provide a “golden
opportunity” to improve
bank balance sheet trans-
parency and reduce market
uncertainty about the quality of assets on banks’ books,
the IMF said.
European banks won’t be
able to obtain all the necessary capital from markets,
and public money may have
to fill some of the gaps, it
added. Banks could also cut
dividend payouts and retain
a larger portion of earnings.
“Overall, a comprehensive
set of policies — including
capital-raising, restructuring and where necessary
resolution of weak banks,
and increased transparency
about banking risks — is
needed to solve banking sys-
US banks built
up capital
buffers in 2009,
when regulators
completed a set
of stress tests
that revealed
some large
holes.
tem vulnerabilities,” it said.
“Without these reforms,
downside risks will reemerge.”
The IMF said banks’ exposure to troubled sovereign
debt is “uncertain,” which
adds to the funding strains.
It said government debt
was generally high and on a
worryingly upward path in
many advanced economies.
It repeated its warning that
the United States and
Japan faced particularly
dangerous debt dynamics.
Advanced
economies
were “living dangerously”
with high debt burdens, and
faced the difficult task of
trying to pare deficits without choking off the economic recovery.
The Fund said government interest bills would
likely rise, although the burden should generally
remain manageable provided countries proceed with
deficit reduction plans.
Mubarak detention spurs
Egyptian stock market
AP
CAIRO
Greece hints
at fresh
budget cuts,
rules out
restructure
AP
ATHENS
GREECE’S finance minister
ruled out any restructuring
of his country’s crippling
debt burden on Wednesday
but warned that even more
budget cutbacks are needed
to achieve EU targets over
the coming years.
Greece avoided bankruptcy last year with a euro110
billion ($160 billion) rescue
loan package from its
European partners and the
International
Monetary
Fund. In return, the
Socialist
government
slashed pensions and civil
servant salaries, while
increasing taxes and retire-
ment ages.
But many analysts believe
the country will eventually
be forced to restructure its
debt — which means easing
the terms of its loan repayments, to the detriment of
international creditors —
regardless of whether it
implements all the reforms
it has promised.
EGYPT’S benchmark stock
index rallied moderately on
Wednesday, gaining as
investors hoped that the
detention of former President
Hosni Mubarak and his two
sons may allay growing frustrations with the pace of
reforms and accountability in
the country.
The Egyptian Exchange’s
EGX30 index was up slightly
over 1.1 percent by 12:30 pm
Cairo time on Wednesday,
recouping some of the 1.4
percent decline recorded in
the previous day’s session.
“People are anticipating
that there will be less protests
and more stability,” said
Mostafa Abdel-Aziz, a senior
broker with Mideast investment
bank
Beltone
Financial’s trading arm. “The
hope is that this news will satisfy more of the protesters.”
Mubarak’s detention for 15
days, pending inquiries into
accusations of corruption,
abuse of authority and the
killings of protesters during
the uprising that ousted him
from power was announced
early on Wednesday by the
country’s prosecutor general.
Another announcement
said that his two sons, Alaa
and Gamal, were also
detained pending investigations and were transferred on
Wednesday to Cairo’s notorious Torah prison. Gamal was
a key figure in the National
Democratic Party that governed under Mubarak.
Mubarak’s detention
for 15 days, pending
inquiries into accusations of corruption,
abuse of authority
and the killings of
protesters during the
uprising that ousted
him from power was
announced early on
Wednesday.
“The reaction was positive,”
said Abdel-Aziz, referring to
the market’s view of the news.
He said that turnover was
“relatively higher” than last
week.
Many have grown increasingly frustrated by the pace of
investigations into former
regime officials and their
associates, claiming that the
country’s new military rulers
were shying away from pur-
suing their former boss and
were instead trying to offer up
former government ministers
as sacrificial lambs and placebos before an irate nation of
80 million.
The protests, coupled with
the general sense of unease in
the country, a security vacuum amid the absence of the
police on the streets and continued unrest political and
labour unrest have hammered the economy.
The detention of Mubarak,
who had been placed under
house arrest in the Red Sea
resort of Sharm el-Sheikh,
appeared to offer one of the
first concrete signals that the
ousted president may be held
accountable for at least some
of the abuses attributed by
Egyptians to him and his family. Mubarak was being held
in hospital after suffering
heart problems on Tuesday.
The 82-year-old leader and
his sons are widely believed
by the majority of Egyptians
as having abused their positions, allowing NDP supporters and key business leaders
to build up massive wealth
through sweetheart deals to
which they were afforded
cuts.
28
BULLS & BEARS
Q ATA R E XC H A N G E
ADJ.CLOSE
CHANGE
CHANGE %
BID SIZE
BID
ASK
ASK SIZE
OPEN PRICE
HIGH
LOW
LAST
NUMBER TRADES
VOLUME
Aamal Holding
19.80
0.00
0.00
5,220
19.50
19.70
5,928
19.62
19.80
19.50
19.80
PREVIUOS CLOSE
19.80
15
15,055
TRADED VALUE (000)
295.83
YEAR HIGH
22.80
YEAR LOW
18.70
Al-Ahli Bank of Qatar
67.90
0.00
0.00
3,500
63.50
65.00
1,830
0.00
0.00
0.00
0.00
67.90
0
0
0.00
67.90
55.20
Al Khaleeji Bank
18.80
0.03
0.16
2,827
18.70
18.80
12,173
18.75
18.89
18.70
18.80
18.77
74
145,509
2,735.70
22.10
16.60
Al Meera Consumer
91.50
2.50
2.81
26
91.50
91.70
923
89.00
92.00
86.10
91.50
89.00
123
101,328
9,210.86
94.70
59.80
Al Khaleej Holding
18.50
(0.07)
(0.38)
10,555
18.45
18.50
9,707
18.61
18.86
18.50
18.50
18.57
408
630,350
11,745.51
18.81
12.97
Al Khaleej Group
44.00
(0.40)
(0.90)
1,000
43.90
44.00
2,266
44.00
45.00
44.00
44.00
44.40
32
24,838
1,094.20
52.90
35.60
Barwa Real Estate QSC
35.05
(0.30)
(0.85)
28,121
35.05
35.10
6,976
35.35
35.35
34.90
35.05
35.35
296
625,649
21,915.53
39.20
27.15
Dlala Brokerage and Investment Holding Co
16.88
(0.12)
(0.71)
6,676
16.88
16.89
1,000
16.92
16.95
16.71
16.88
17.00
34
38,268
644.59
17.59
14.00
Doha Bank Ltd
53.20
(2.20)
(3.97)
22,958
53.20
53.30
14,440
55.50
55.50
53.00
53.20
55.40
660
910,772
48,920.08
66.90
45.00
Doha Insurance Co
28.20
(0.30)
(1.05)
1,073
27.90
28.20
1,741
28.00
28.20
27.80
28.20
28.50
23
26,601
744.97
32.50
25.50
Ezdan Real Estate
23.60
0.00
0.00
1,000
23.52
23.60
248
23.64
23.65
23.54
23.60
23.60
10
6,739
159.10
30.80
21.30
Gulf Intr Serv
29.20
1.35
4.85
1,763
29.15
29.20
41,863
27.85
29.75
27.50
29.20
27.85
939
1,809,024
52,498.76
29.60
23.01
Gulf Warehousing
33.45
0.45
1.36
2,500
33.40
33.45
2,370
34.00
34.40
33.05
33.45
33.00
142
258,474
8,720.67
33.80
22.50
147.70
4.10
2.86
1,000
147.50
147.70
1,169
148.50
150.00
147.00
147.70
143.60
808
791,598
117,162.93
154.50
116.00
Islamic Holding
26.75
0.45
1.71
850
26.40
26.75
2,694
26.85
26.85
26.40
26.75
26.30
7
2,616
69.50
30.00
23.00
Mannai Corp.
107.50
0.00
0.00
532
107.50
109.00
532
109.30
109.30
107.50
107.50
107.50
2
515
55.38
151.70
101.00
24.29
(0.06)
(0.25)
11,868
24.29
24.30
16,584
24.40
24.45
24.27
24.29
24.35
609
1,670,414
40,702.32
25.30
18.90
Mazaya Qatar
9.46
0.00
0.00
1,095
9.10
9.60
550
0.00
0.00
0.00
0.00
9.46
0
0
0.00
10.50
8.03
Medicare Group
23.90
0.36
1.53
16,593
23.90
23.95
2,352
23.50
23.99
23.50
23.90
23.54
84
169,830
4,029.55
23.65
16.30
National Leasing Company
37.80
(0.15)
(0.40)
14,018
37.80
38.00
301
37.50
38.25
37.50
37.80
37.95
69
76,510
2,899.66
50.10
31.50
Qatar Cinema and Film
40.00
0.00
0.00
1,500
39.00
42.80
233
0.00
0.00
0.00
0.00
40.00
0
0
0.00
46.05
25.80
Commercial Bank of Qatar
72.50
(2.00)
(2.68)
3,000
72.40
72.50
7,548
74.90
74.90
72.00
72.50
74.50
724
756,971
55,532.81
94.60
62.40
Industries Qatar QSC
Masraf Al Rayyan
Qatar Electricity & Water
Qatar Gas Transport Company
152.90
9.90
6.92
2,842
152.90
153.00
11,750
145.00
154.90
145.00
152.90
143.00
342
258,802
39,114.74
146.00
116.00
19.58
0.28
1.45
55,297
19.58
19.60
28,360
19.31
19.60
19.31
19.58
19.30
737
2,177,287
42,402.11
20.70
16.04
40.00
Qatar General Insurance & Reinsurance
42.30
0.00
0.00
3,000
42.30
43.50
2,800
0.00
0.00
0.00
0.00
42.30
0
0
0.00
70.40
Qatar Industrial Manufacturing
53.20
0.70
1.33
1,950
53.10
53.20
1,034
52.90
53.80
52.00
53.20
52.50
80
53,230
2,817.49
61.90
48.20
Qatar International Islamic Bank QSC
46.55
(0.35)
(0.75)
2,150
46.55
46.75
93
46.95
47.00
46.50
46.55
46.90
75
94,967
4,430.66
58.40
43.90
75.00
Qatar Islamic Bank
83.60
0.70
0.84
11,666
83.60
83.70
1,947
83.10
84.00
82.80
83.60
82.90
279
194,528
16,212.50
92.00
Qatar Islamic Insurance
51.40
(0.60)
(1.15)
1,000
51.00
51.40
45
52.00
52.00
50.80
51.40
52.00
28
22,607
1,153.46
54.00
36.10
Qatar Meat & Livestock Company
22.21
0.00
0.00
1,000
21.20
23.00
160
0.00
0.00
0.00
0.00
22.21
0
0
0.00
23.40
14.60
Qatar National Cement
110.50
0.50
0.45
500
109.70
111.00
1,000
107.50
112.00
107.50
110.50
110.00
17
6,681
734.29
124.90
97.70
Qatar Telecom
150.00
2.00
1.35
1,701
150.00
150.40
500
149.40
151.70
148.00
150.00
148.00
126
110,825
16,503.34
182.80
134.40
9.10
0.10
1.11
2,689
9.05
9.10
1,150
8.93
9.19
8.90
9.10
9.00
48
115,078
1,039.84
10.00
8.05
260.00
1.50
0.58
91
258.70
260.00
1,085
258.50
260.00
257.30
260.00
258.50
68
15,378
3,985.31
278.20
211.00
Qatari German Company for Medical Devices
Qatar Fuel Company
Qatar Insurance Company
80.90
(1.20)
(1.46)
2,000
80.10
80.80
300
82.00
82.20
79.50
80.90
82.10
58
64,495
5,173.69
94.00
72.70
Qatar Navigation Q.S.C.
84.00
(0.60)
(0.71)
2,000
83.80
84.00
28,496
84.10
84.40
83.80
84.00
84.60
126
120,288
10,098.76
104.90
83.00
Qatar Oman Inves
8.40
(0.03)
(0.36)
5,032
8.39
8.40
1,000
8.38
8.47
8.38
8.40
8.43
72
186,743
1,571.52
10.20
8.00
149.40
0.20
0.13
444
149.30
149.40
1,611
149.90
150.90
149.00
149.40
149.20
329
287,186
42,995.34
205.00
122.60
Salam International Investment Co
11.96
(0.04)
(0.33)
6,349
11.96
11.99
5,000
12.13
12.15
11.88
11.96
12.00
161
476,807
5,724.52
14.60
9.78
United Development Company
22.94
0.03
0.13
501
22.80
22.94
4,887
22.91
22.99
22.80
22.94
22.91
47
50,183
1,147.95
30.90
19.40
8.07
(0.01)
(0.12)
27,009
8.05
8.07
41,541
8.03
8.13
8.03
8.07
8.08
101
338,470
2,729.45
8.40
7.30
50.00
(1.90)
(3.66)
222
49.50
50.60
1,500
51.00
51.00
50.00
50.00
51.90
33
18,691
940.86
57.10
44.85
Qatar National Bank
Vodafone Qatar
ZAD Holding
DUBAI
K U WA I T
PRICE
% CHANGE
PRICE
% CHANGE
PRICE
% CHANGE
PRICE
% CHANGE
Dubai Financial Market
1,600.46
Arabian Scandinavian Insurance Company
2.85
Acico Industries Co
5.25
Agility The Public Warehousing Company
17.60
Air Arabia
0.83
Ajman Bank
0.81
Al Firdous Hldg
0.76
Al Mazaya Holding Company
3.10
Al Sagr National Insurance Co
4.55
Al Salam Bank
0.53
Alliance Insurance
383.50
Al Madina For Finance & Investment Co
0.45
Al Salam Bank
2.05
Amlak Finance
1.02
Arab Heavy Industries
193.35
Arab Insurance Group
2.15
Arab Orient Insurance Co Public Shareholding Co 0.00
Arabtec Holding
1.63
1.83
Aramex
Dubai Investment
0.84
0.63
0.00
0.00
0.00
0.97
3.45
0.00
0.00
0.00
0.00
0.00
2.76
0.00
0.00
0.00
0.00
0.00
3.16
1.10
1.95
Dubai Islamic Insurance &Re Insurance Co
0.72
2.21
Dubai Islamic Bank (Public Joint Stock Co)
5.50
Dubai Refreshment
Deyaar Development
0.23
Dubai Financial Market
1.35
Dubai National Insurance And Reinsurance Co 2.15
Drake & Scull International
1.06
3.14
Emirates Integrated Telecommunications Co
Dubai Development Co
2.24
Dubai Insurance Company
2.27
Commercial Bank Of Dubai
3.40
Ekttitab Holding Company
0.36
Emirates Islamic Bank
0.00
Emaar Properties
3.13
Emirates Investment Bank
950.00
Emirates Nbd Bank
3.25
Emirates Refreshments
6.05
Global Investment House
0.79
Grand Real Estate Projects
2.06
Gulf Finance House
0.47
2.86
1.38
1.23
4.05
0.75
0.00
1.92
1.62
0.00
0.00
-1.45
3.20
0.00
2.96
0.00
0.00
0.00
0.00
0.00
0.00
PRICE
% CHANGE
PRICE
% CHANGE
Abu Dhabi Securities Exchange
2,659.32
Al Ain Ahlia Insurance Company
47.00
Al Buhaira National Insurance Co.
9.00
Abu Dhabi Aviation
3.00
Abu Dhabi Commercial Bank
2.37
Abu Dhabi Islamic Bank
3.17
Abu Dhabi National Hotels
2.70
Abu Dhabi National Insurance Company
6.25
Abu Dhabi Ship Building Co
2.56
Al Fujairah National Insurance Co
300.00
Emirates Foodstuff & Mineral Water Company 1.94
Al Khazna Insurance Company
0.68
Aldar Properties
1.55
Arkan Building Materials Company
1.63
International Fish Farming Co
9.50
Al Wathba National Insurance Co
5.60
Abu Dhabi National Co For Bldg. Materials
1.40
Bank Of Sharjah
1.81
Commercial Bank International
0.90
Dana Gas Co
0.65
Al Dhafra Insurance Company
3.83
Emirates Driving Company
3.60
Emirates Insurance Co
6.00
Emirates Telecommunication Corporation Ltd 11.00
Fujairah Building Industries
3.74
Fujairah Cement Industries
1.03
First Gulf Bank
15.95
Finance House
6.00
2.69
Abu Dhabi National Foodstuff Co
Fujairah Trade Centre Company
0.00
1.02
0.00
0.00
0.00
0.00
0.96
0.00
0.00
9.87
0.00
2.67
9.68
4.03
8.72
7.34
0.00
-4.08
0.56
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
-1.84
0.00
0.00
0.00
Gulf Cement Co
1.29
Green Crescent Insurance Co
0.69
Gulf Livestock Co
6.98
Gulf Medical Projects Co
1.77
Gulf Pharmaceutical Co
1.85
Invest Bank
1.51
Methaq Takaful Insurance Co
2.09
National Bank Of Abu Dhabi
9.70
National Bank Of Fujairah
4.14
National Bank Of Umm Al-Qaiwain
1.95
National Corporation For Tourism And Hotels
7.70
National Marine Dredging Co
10.20
Oman And Emirates Investment Holding Co
0.90
Umm Al Qaiwain Cement Industries Co
0.68
Qatar Telecommunications Qtel
142.92
National Bank Of Ras Al Khaimah
4.15
Ras Al Khaimah White Cement
1.26
Ras Al Khaimah National Insurance
3.85
Ras Al Khaimah Poultry And Feeding Co
1.54
Ras Al Khaimah Cement Co
0.78
Ras Al Khaimah Ceramic
2.25
Ras Al Khaimah Properties
0.40
Sharjah Cement And Industrial Devl Co
0.71
Sudan Telecommunication Co Ltd
2.00
Sharjah Islamic Bank
0.87
Sharjah Insurance Co
5.25
Sorouh Real Estate Co
1.27
1.43
Abu Dhabi National Energy Co
Abu Dhabi National Takaful Company
3.15
United Arab Bank
5.65
0.00
7.94
0.00
0.00
-6.22
0.00
10.00
-0.71
0.00
9.55
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
-8.88
8.45
0.91
2.56
0.00
4.71
-2.22
0.00
4.17
0.00
0.00
0.00
Kuwait Stock Exchange
6,369.00
Aayan Leasing & Investment Co
71.00
Burgan Co for Well Drilling Trdg. & Maintenance 470.00
Al Ahli Bank of Kuwait
630.00
Al Abraj Holding Co
24.50
Abyaar Real Estate Development Company
34.00
ACICO Industries Co
315.00
Al Dar National Real Estate Co
21.00
Arabi Holding Group Company
126.00
Agility The Public Warehousing Company
380.00
Aref Investment Group
52.00
Al Ahleia Insurance Company
510.00
Al Ahlia Holding Company
14.00
Avaiation Lease And Finance Company
380.00
Kuwait Real Estate Holding Co
35.00
Al Kout Industrial Projects Company
330.00
Al Mudon International Real Estate Co
240.00
Al Nawadi Holding Company
81.00
Qurain Petrochemical Industries Co
188.00
Al Rai Media Group Co
72.00
Al-Aman Investment Co
38.00
Taameer Real Estate Investment Co
51.00
Amwal Int L Investment Co
64.00
Aqar Real Estate Investment Co
90.00
Arab Real Estate Company
34.00
Ajial Real Estate Entertainment Co
118.00
Aref Energy Holding Co
122.00
Alargan International Real Estate Co
202.00
152.00
Arkan Al Kuwait Real Estate Co
70.00
Automated Systems Co
270.00
Advanced Technology Co
840.00
Ahli United Bank
202.00
Aayan Real Estate Company
70.00
Bayan Investment Company
38.50
Boubyan International Industries Holding Co 122.00
Bahrain Kuwait Insurance Co
325.00
Ahli United Bank
750.00
Boubyan Bank
590.00
Boubyan Petrochemical Company
540.00
Burgan Bank
520.00
Gulf Cable and Electrical Industries Co
1,680.00
Livestock Transport and Trading Company
300.00
Commercial Bank of Kuwait
930.00
Combined Group Contracting Co
1,980.00
National Cleaning Company
166.00
Coast Investment and Development Co
88.00
DAMAC Kuwaiti Holding Co
112.00
Danah Al Safat Foodstuff Company
85.00
Al Deera Holding Co
32.00
Educational Holding Group
162.00
Egypt Kuwait Holding Co (SAE)
365.00
Ekttitab Holding Company
32.50
Al Enma A Real Estate Company
114.00
0.07
0.00
0.00
0.00
0.00
1.49
-1.56
0.00
0.00
0.00
0.00
0.00
0.00
1.33
0.00
0.00
0.00
0.00
1.08
-2.70
0.00
0.00
0.00
0.00
3.03
0.00
0.00
0.00
0.00
0.00
0.00
0.00
-0.98
0.00
-1.28
0.00
0.00
-1.32
1.72
1.89
1.96
1.20
0.00
0.00
-1.98
1.22
1.15
0.00
-1.16
0.00
-10.99
0.00
3.17
-1.72
Equipment Holding Company
62.00
Kuwait Bahrain International Exchange Co
310.00
Eyas For Higher & Technical Education Co
320.00
Commercial Facilities Co Sakclosed
385.00
FUJAIRAH CEMENT INDUSTRIES
63.00
First Dubai for Real Estate Development
27.00
Kuwait Food Company Americana
1,480.00
First Takaful Insurance Co Kcsc
75.00
Future Communications Company Global
310.00
Gulf Bank
540.00
Gulf Cement Co
108.00
25.00
Gulf Franchising Holding Company
Gulf Finance House
34.00
Gulf Glass Manufacturing Co (Kscclosed)
680.00
Gulf Investment House
52.00
Gulf Insurance Co
600.00
32.50
Gulf North Africa Holding Co
55.00
Gulf Petroleum Investment Co
31.00
13.50
Grand Real Estate Projects
Gulfinvest International
20.50
Kuwait Gypsum Manufacturing & Trading Co 164.00
Hayat Communications Co
138.00
Hilal Cement Co
242.00
Hits Telecom Holding Company
60.00
Human Soft Holding Co
300.00
Ifa Hotels and Resorts Co
455.00
International Financial Advisers
45.50
Industrial & Financial Investments Company 38.00
International Investment Group
80.00
Ikarus Petroleum Industries
140.00
International Leasing & Investment Co
94.00
International Finance Company
255.00
Injazzat Real Estate Development Co
91.00
Inovest BSC Public
76.00
Investors Holding Group Company
15.00
Independent Petroleum Group Company
435.00
International Resorts Company
32.00
Housing Finance Company
75.00
Ithmaar Bank
25.00
Jazeera Airways Co
120.00
Jeeran Holding Company
104.00
Jeezan Holding Co
50.00
Kipco Asset Management Co
265.00
Kuwait Building Materials Manufacturing Co 232.00
Kuwait Business Town Real Estate Co
41.00
640.00
Kuwait Cement Co
Kuwait China Investment Co
68.00
Kuwait National Cinema Co
950.00
The Kuwait Co for Process Plant Const. & Cont. 380.00
Kuwait Foundry Company SAK Closed
660.00
Kuwait Finance House
1,100.00
Kuwait Finance and Investment Company
26.00
Kuwait and Gulf Link Transport Company
132.00
-1.59
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
5.88
-1.82
-9.09
0.00
0.00
0.00
0.00
-7.14
0.00
0.00
0.00
0.00
0.00
0.00
0.00
-3.23
0.00
0.00
1.11
0.00
0.00
1.45
0.00
0.00
5.81
-6.17
-3.23
0.00
-3.03
0.00
0.00
-1.64
0.00
0.00
-3.64
0.00
0.00
-1.54
0.00
0.00
-5.00
0.00
1.85
0.00
0.00
PRICE
% CHANGE
PRICE
% CHANGE
PRICE
% CHANGE
Bahrain Stock Exchange
1,401.95
Al Baraka Banking Group
1.27
Ahli United Bank
0.72
Alahlia Insurance Co
0.32
Al Salam Bank
0.07
Aluminum Bahrain (Duplicate)
0.90
Arab Banking Corporation
0.57
0.52
Ahli United Bank
0.43
Bahrain Kuwait Insurance Co
0.70
Bahrain Car Park Company
0.20
Bahrain Cinema Company
0.79
0.42
Bahrain Commercial Facilities Company
Bahrain Duty Free Shop Complex
0.69
Bahrain Family Leisure Co
0.11
Bahrain Flour Mills Co
0.40
Bahrain Islamic Bank
0.12
Bmmi
0.57
Bahrain National Holding Co
0.44
Bahrain Ship Repairing & Engineering Co
1.43
Bahrain Telecommunications Company
0.49
Bahrain Tourism Co Crowne Plaza Bahrain
0.35
The Bahraini Saudi Bank
0.07
-0.53
0.00
0.00
0.00
0.00
0.00
0.00
-3.70
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
2.73
0.00
0.00
-0.41
0.00
0.00
0.16
0.42
0.72
0.08
0.22
0.22
0.26
0.15
0.13
0.80
0.04
0.32
0.68
1,138.50
0.11
0.05
0.18
0.60
0.45
0.31
0.10
2.73
0.29
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
-8.70
0.00
0.56
-4.00
0.00
0.00
3.12
0.00
0.00
Muscat Securities Market (Duplicate)
6,375.04
Al Anwar Ceramic Tiles Company
0.29
Ahli Bank
0.29
Acwa Power Barka
1.30
Sharikah Al Anwaar Al Kaabidah Sh M Aa Aa
0.12
Al Jazeira Services Company
0.20
Al Jazeera Steel Products Company
0.28
Al Batinah Devpt. & Investment Holding Co
0.06
Al Omaniya Financial Services
0.29
Bank Dhofar
0.65
Bank Muscat
0.78
1.32
Oman Oil Marketing Company
0.25
Oman Oil Marketing Company
Construction Materials Industries & Contracting 0.06
Dhofar Cattle Feed Co. S.A.O.G. Group
0.15
Dhofar Power Company
2.00
Dhofar International Devpt. & Investment Holding 0.54
Dhofar Insurance Co
0.19
The Financial Corporation
1.26
Financial Services Co
0.10
Global Financial Investment
0.06
Gulf International Chemicals
0.23
Gulf Investment Service
0.07
0.03
1.04
0.00
0.00
0.00
1.52
-0.36
0.00
0.00
0.15
0.00
0.00
0.00
1.64
-1.95
0.00
0.56
0.00
0.00
0.00
-1.61
0.00
0.00
ABU DHABI
BAHRAIN
Banader Hotels Company
Bbk
Bank Muscat
Bahrain Middle East Bank
Delmon Poultry Company
Esterad Investment Company
General Trading And Food Processing Co
Gulf Finance House
Gulf Hotel Group Gulf Hotel
Gulf Monetary Group
Inovest Bsc Public
International Investment Group
Investcorp Bank
Ithmaar Bank
Khaleeji Commercial Bank
Nass Corporation
National Bank Of Bahrain
National Hotels Co Bsc Diplomat Hotel
Securities And Investment Company
Seef Properties
Taib Bank
Takaful International Co
M U S C AT
Al Hassan Engineering Company
Al Jazeira Services Company
Al Kamil Power Company
Al Maha Petroleum Products Marketing Co
Muscat Finance Company Ltd
Majan Glass Company
Muscat National Holding Co
Muscat Gases Company
National Aluminium Products Company
National Bank Of Oman
National Finance Co
Omani Qatari Telecommunications Co
Oman Cables Industry
Oman Cement Company
Oman Chlorine
Oman and Emirates Investment Holding Co
Oman Fisheries Co
Oman Flour Mills Co
Oman Holdings International Co
Oman International Bank
Oman Investment and Finance Co
Oman International Devpt. & Investment Co
ONIC Holding
PRICE
% CHANGE
0.49
0.55
1.73
11.30
0.20
0.68
1.58
0.79
0.50
0.31
0.12
0.76
1.13
0.57
0.36
0.16
0.13
0.59
0.32
0.27
0.21
0.47
0.30
0.63
0.00
0.00
0.00
0.00
0.00
0.00
0.00
-0.20
-0.65
0.00
0.13
-0.53
-0.70
-1.89
0.00
1.61
0.52
1.23
-2.51
0.48
0.00
-0.65
R I YA D H
PRICE
% CHANGE
Saudi Stock Exchange (Tadawul)
6,604.16
Riyad Bank
26.00
Bank AlJazira
19.65
Saudi Investment Bank
19.90
Saudi Hollandi Bank
31.00
Banque Saudi Fransi
47.70
Saudi British Bank
44.90
Arab National Bank
33.40
Samba Financial Group (Samba)
55.00
Al Rajhi Bank
76.25
Bank Albilad
19.20
Development Bank
10.15
Basic Chemical Industries Co
27.20
Saudi Arabian Mining Co
24.95
Astra Industrial Group
35.20
Al Sorayai Trading and Industrial Group Co Ltd 24.55
Al Hassan Ghazi Ibrahim Shaker Company
57.50
Mohammad Al Mojil Group Co
21.90
Saudi Steel Pipe Co
24.90
Abdullah A M Al Khodari Sons Co
64.00
Methanol Chemicals Company (Chemanol)
14.00
National Petrochemical Co Petrochem
22.00
Saudi Basic Industries Corp Sabic
108.75
Saudi Arabia Fertilizers Co.
173.25
Saudi Arabia Refineries Co
32.80
Saudi Ceramic Co.
139.00
Savola Group
27.10
National Industrialization Co
35.30
Saudi Pharmaceutical Indust. & Med. Appl. Corp. 40.80
National Gas & Industrial Co
18.50
National Gypsum Co.
31.00
Food Products Co.
17.05
Saudi Cable Co
14.05
Saudi Advanced Industries Co
15.95
Saudi Industrial Development Co.
12.85
Al Ahsa Development Co.
11.10
National Co. For Glass Industries
31.80
Saudi Arabian Amiantit Co
17.45
Alujain Corporation
21.45
Filing & Packing Materials Manufacturing Co. 27.20
Saudi Industrial Services Co.
13.85
Arabian Pipe Company
33.00
NAMA Chemicals Co
11.40
National Metal Manufacturing & Casting Co. 26.10
Saudi Chemical Company
45.20
Zamil Industrial
31.20
Saudi Industrial Investment Group
24.55
Sahara Petrochemicals Co
23.10
Saudi Dairy & Foodstuff Co
42.10
Almarai Co
93.50
Yanbu National Petrochemical Company
53.25
Saudi Paper Manufacturing Co
47.00
Saudi International Petrochemical Co
23.00
Al Babtain Power and Telecommunication Co 27.10
Advanced Petrochemical Co Ltd
32.70
Al Abdullatif Industrial Investment Co.
27.10
18.10
Saudi Kayan Petrochemical Company
Saudi Vitrified Clay Pipe Co Ltd
54.00
Middle East Specialized Cables Co mesc
16.85
Rabigh Refining & Petrochemical Co
24.05
Arabian Cement Co.
33.40
Yamama Saudi Cement Company Ltd
54.75
Saudi Cement Co.
53.75
Qassim Cement Co.
61.50
Southern Province Cement Co
62.50
Yanbu Cement Co
43.90
Eastern Province Cement Co.
45.80
Tabuk Cement Co.
18.75
Al Jouf Cement Co
12.35
Abdullah Al Othaim Markets Co
100.00
Al Mouwasat Medical Services Co
72.25
Saudi Hotels & Resort Areas Co
27.40
Saudi Real Estate Co.
23.00
14.90
National Shipping Co Of Saudi Arabia
7.45
Saudi Public Transport Co.
Saudi Automotive Services Co.
13.95
Anaam International Holding Group Co
44.20
0.20
0.00
-1.26
-0.50
0.00
-1.85
-1.54
-0.89
-0.90
0.33
-1.29
1.00
-0.73
0.60
-0.28
0.20
2.68
0.46
1.22
0.39
0.36
-2.44
1.64
-3.48
0.61
0.18
1.12
1.44
0.00
0.00
0.00
1.18
-1.06
1.27
2.39
-0.45
0.63
1.16
-0.46
-0.73
1.09
-1.20
1.33
0.00
2.03
-0.95
-1.80
0.22
0.24
0.54
3.90
0.43
0.00
-0.73
0.31
0.00
0.56
3.85
-0.59
2.12
1.83
0.92
0.94
1.23
1.63
-1.35
-0.22
0.27
1.65
-0.74
0.35
0.00
-0.22
-1.32
0.00
1.82
-1.56
Information contained herein is believed to be reliable & has been obtained from sources believed to be reliable, but its accuracy & completeness cannot be guaranteed. This publication is provided for information purposes only and is not intended as an offer or solicitation for the sale of any financial instrument. Prior to entering into any transaction, investors are advised to obtain independent advice
regarding the suitability of particular financial instruments/strategies based on their investment objectives.
BULLS & BEARS
FTSE
FTSE100 International
Anglo American
Associated British Foods
Admiral Group Public Limited Company
Aggreko
Amec P L C
Antofagasta
ARM Holdings
Autonomy Corp
Aviva
AstraZeneca
BAE Systems
Barclays
British American Tobacco
Bg Group Public Limited Company
British Land Co Public Ltd Company(the)
BHP Billiton
BP
Burberry Group
British Sky Broadcasting Group
BT Group
Carnival
Centrica
Cairn Energy
Compass Group
Capita Group
Capital Shopping Centres Group
Diageo
Man Group
Eurasian Natural Resources Corp
Essar Energy
Experian
Fresnillo
G4S
Gkn
GlaxoSmithKline
Hammerson
Hargreaves Lansdown
HSBC Holdings
Icap
International Consolidated Airlines Group SA
Intercontinental Hotels Group
3i Group
IMI
Imperial Tobacco Group
Investec
International Power
Inmarsat
Invensys
Intertek Group
Itv
PRICE
% CHANGE
5,964.47
3,181.00
1,010.00
1,609.00
1,616.00
1,170.00
1,408.00
560.50
1,545.00
441.80
2,987.00
335.30
303.50
2,501.50
1,490.50
546.50
2,548.44
462.35
1,132.00
829.00
188.80
2,475.00
322.40
443.30
553.00
715.00
387.30
1,191.00
240.20
928.00
457.50
769.00
1,571.00
261.30
196.60
1,233.00
444.00
607.00
653.90
509.00
224.50
1,259.00
263.50
1,009.00
1,981.00
485.50
316.10
607.00
325.00
2,015.00
75.20
-1.47
-4.75
-0.10
-0.25
-2.12
-1.18
-5.19
-3.78
-2.34
-2.41
0.69
-1.09
-0.61
0.64
-3.53
0.00
-3.12
-2.62
-2.33
-0.30
-1.05
4.61
-0.74
-2.40
0.64
-1.72
-0.49
-0.08
-1.23
-4.48
-3.03
-0.52
-5.42
-0.72
-3.91
0.65
-0.54
-1.46
-0.92
-0.97
4.18
-0.24
-1.42
-1.75
1.12
-0.72
-0.35
-0.98
-2.67
-0.79
-1.70
Johnson Matthey
Kazakhmys
Kingfisher
Land Securities Group
Legal and General Group
Lloyds Banking Group
Lonmin
Marks And Spencer Group
Wm Morrison Supermarkets
National Grid
Next
Old Mutual
Petrofac Ltd
Prudential
Pearson
Reckitt Benckiser Group
Royal Bank of Scotland Group
Royal Dutch Shell
Royal Dutch Shell
Reed Elsevier
Rexam
Rio Tinto
Rolls Royce Group
Randgold Resources Ltd
RSA Insurance Group
Resolution Ltd
SABMiller
J Sainsbury
Schroders
Schroders
Sage Group
Shire
Standard Life
Smiths Group
Smith And Nephew
Serco Group
Scottish & Southern Energy
Standard Chartered
Severn Trent
Tullow Oil
TESCO
Tui Travel
Unilever
United Utilities Group
Vedanta Resources
Vodafone Group
Weir Group
John Wood Group
Wolseley
WPP
Whitbread
N A S DA Q TO P G A I N E R S
PRICE
% CHANGE
1,881.00
1,416.35
259.40
736.00
120.08
60.11
1,687.00
360.60
283.70
585.50
2,095.00
144.80
1,527.00
734.00
1,089.00
3,235.00
43.70
2,228.00
2,207.50
534.50
373.20
4,391.50
620.50
5,205.00
132.90
305.40
2,217.50
338.20
1,812.00
1,460.00
269.20
1,844.00
212.70
1,328.00
684.00
542.00
1,314.00
1,643.00
1,441.88
1,417.00
399.10
231.80
1,909.00
601.83
2,351.00
175.15
1,730.00
663.00
2,136.00
735.00
1,657.00
-2.94
-5.09
0.27
0.00
-0.17
-3.61
-3.21
0.31
0.92
-0.76
0.38
0.21
-0.91
-1.48
-1.36
-0.40
-1.64
-2.64
-2.77
-0.37
0.32
-3.01
-1.43
-2.25
-1.19
-2.02
-0.40
0.39
-0.60
-0.14
-2.11
0.27
-1.12
-0.60
-2.08
-0.18
-0.30
-2.11
0.07
-3.67
0.99
0.74
0.26
-0.08
-3.29
-1.02
-3.03
-2.86
-1.16
-1.54
0.67
Zoom Technologies Inc
GTx Inc
Eagle Rock Energy Partners LP
Ossen Innovation Co Ltd
Riverbed Technology Inc
Eagle Rock Energy Partners LP
Irobot Corp
Silgan Holdings Inc
Wonder Auto Technology Inc
Amtech Systems Inc
Severn Bancorp Inc
Aruba Networks Inc
RIT Technologies Ltd
CEVA Inc
Hansen Medical Inc
Hydrogenics Corp
Hercules Offshore Inc
Southern Missouri Bancorp Inc
USA Technologies Inc
Westport Innovations Inc
Earthstone Energy Inc
Biosante Pharmaceuticals Inc
Mid Penn Bancorp Inc
Connecticut Water Service Inc
Regeneron Pharmaceuticals Inc
N A S DA Q TO P L O S E R S
PRICE
% CHANGE
4.70
4.16
5.55
2.59
35.75
11.74
34.87
40.74
5.51
24.12
4.95
30.87
6.81
27.66
2.90
5.53
5.52
25.99
2.17
25.68
20.95
2.04
9.07
26.35
45.07
51.61
51.27
40.51
17.19
15.62
14.76
10.80
10.62
9.33
8.11
7.61
7.56
7.08
6.67
6.62
6.35
6.15
5.87
5.85
5.72
5.70
5.70
5.47
5.36
5.18
Identive Group Inc
Southwall Technologies Inc
Vision Sciences Inc
Zion Oil and Gas Inc
Bassett Furniture Industries Inc
NF Energy Saving Corp
On Track Innovations Ltd
Northern Technologies International Corp
Chinanet Online Holdings Inc
Idenix Pharmaceuticals Inc
Koss Corporation
Yuhe International Inc
Star Scientific Inc
China Information Technology Inc
Dover Saddlery Inc
China Finance Online Co Ltd
Toreador Resources Corp
Anika Therapeutics Inc
Raptor Pharmaceutical Corp
Strayer Education Inc
Hooker Furniture Corp
Perficient Inc
Multiband Corp
Micrel Inc
Xata Corp
S TA N DA R D & P O O R ’ S
PRICE
% CHANGE
4.24
12.21
2.35
4.36
7.55
3.00
2.31
15.51
3.11
3.62
6.60
6.28
3.23
2.45
4.58
4.60
8.28
9.35
3.12
128.66
12.78
11.65
4.24
12.65
2.20
-25.48
-9.49
-7.66
-7.23
-6.67
-6.25
-6.10
-5.89
-5.76
-5.73
-5.71
-5.71
-5.56
-4.67
-4.58
-4.56
-4.28
-4.10
-4.00
-3.94
-3.91
-3.72
-3.64
-3.58
-3.51
32.26
37.74
72.39
40.13
67.22
30.44
13.41
50.63
46.79
59.83
93.83
11.87
96.81
21.29
37.65
77.45
72.95
107.41
55.02
92.98
84.20
74.47
20.04
33.50
0.37
0.69
-0.94
0.91
0.48
-0.10
-0.45
0.28
0.23
-0.27
0.25
0.28
-1.93
1.76
1.03
-0.38
0.79
-0.18
0.66
0.26
0.31
0.15
-0.18
PRICE
% CHANGE
105.25
1,196.75
100.90
467.60
85.35
614.85
108.95
696.95
42.15
132.65
1,021.70
480.00
248.55
2,819.40
320.65
115.10
1,950.00
75.20
814.25
888.45
164.50
525.50
171.40
246.80
172.90
447.00
428.75
56.05
124.95
362.05
254.90
1,208.95
103.35
1,249.80
1,310.60
636.00
734.00
697.50
3,882.20
262.20
116.35
1,088.15
343.45
45.35
473.15
152.05
1,065.90
197.60
89.40
176.50
1.10
0.93
-0.98
1.84
1.37
0.99
1.68
1.98
0.00
1.80
1.44
0.53
1.39
1.45
0.44
0.96
-0.10
1.42
0.27
5.60
1.17
1.51
2.30
1.09
-0.40
-0.72
-0.44
3.22
2.54
2.13
1.70
2.57
0.63
2.51
-0.51
1.75
0.73
-0.75
2.18
0.81
2.33
0.89
0.76
1.11
1.31
1.23
0.47
1.26
0.45
0.34
PRICE
% CHANGE
325.25
209.64
88.50
19.80
149.63
274.70
72.00
2.20
52.25
100.99
238.99
13.05
2,449.99
37.26
208.00
30.10
1,050.00
6.12
8.60
19.90
24.45
104.01
2.87
4,961.00
1,302.12
0.00
0.07
-1.98
0.00
0.00
-1.33
1.45
-20.00
-0.51
1.95
2.79
0.23
-0.22
-1.27
-1.29
0.20
-1.32
-0.65
-0.35
1.38
1.79
-1.92
-1.37
0.57
0.00
DOW JONES
Dow Jones & Company Index 30
Dj Comp Average
Alcoa Inc
Dominion Resources Inc
Intel Corp
PG&E Corp
American Electric Power Co Inc
E I Du Pont De Nemours And Co
J B Hunt Transport Services Inc
Public Service Enterprise Group Inc
AES Corp
Walt Disney Co
Jetblue Airways Corp
Pfizer Inc
Alexander and Baldwin Inc
Duke Energy Corp
Johnson & Johnson
Procter & Gamble Co
AMR Corp
Consolidated Edison Inc
JPMorgan Chase & Co
Ryder System Inc
American Express Co
Edison International
12,298.62
4,205.60
16.82
43.78
19.81
44.04
34.97
53.79
44.91
30.89
12.71
41.86
5.83
20.39
52.20
18.19
59.78
62.89
5.75
50.27
46.62
50.59
46.03
38.18
0.29
0.27
0.72
0.41
0.25
0.69
1.10
0.07
0.22
1.01
0.55
0.55
-1.52
-0.34
0.54
1.11
-0.27
-2.71
0.60
-0.04
-0.02
0.02
0.69
Kraft Foods Inc
The Southern Co
Boeing Co
Exelon Corp
Coca Cola Co
AT&T Inc
Bank of America Corp
Expeditors International Of Washington Inc
Landstar System Inc
Travelers Companies Inc
Fedex Corp
Southwest Airlines Co
Union Pacific Corp
United Continental Holdings Inc
Firstenergy Corp
McDonalds Corp
United Parcel Service Inc
Caterpillar Inc
Nextera Energy Inc
3M Co
United Technologies Corp
C H Robinson Worldwide Inc
General Electric Company
Merck & Co Inc
MUMBAI
Bombay Stock Exchange Ltd
India Index Services & Products Limited
ABB Ltd
ACC Ltd
Aban Offshore Ltd
Adani Enterprises Ltd
Adani Power Ltd
Aditya Birla Nuvo Ltd
Allahabad Bank
Ambuja Cements Ltd
Andhra Bank
Apollo Hospitals Enterprise Ltd
Apollo Tyres Ltd
Areva T
Ashok Leyland Ltd
Asian Paints Ltd
Atlas Copco India Ltd
Aurobindo Pharma Ltd
AXIS Bank Ltd
Bgr Energy Systems Ltd
Bajaj Auto Ltd
Bajaj Finserv Ltd
Bajaj Holdings & Investment Ltd
Bank Of India Ltd
Bf Utilities Ltd
Bharat Electronics Ltd
Bharat Forge Ltd
Bharat Petroleum Corp Ltd
Bharti Airtel Ltd
Bharat Heavy Electricals Ltd
Bhushan Steel Ltd
Biocon Ltd
Bank Of Baroda
Bosch Ltd
Bosch Ltd
Cadila Healthcare Ltd
Cairn India Ltd
Canara Bank
Castrol India Ltd
Central Bank Of India
Century Textiles and Industries Ltd
Chambal Fertilisers and Chemicals Ltd
Cipla Ltd
TCS E Serve Ltd
Coal India Ltd Govt Of India Undertaking
Colgate Palmolive (India) Ltd
Container Corporation of India Ltd
Core Projects And Technologies Limited
Corporation Bank
Coromandel International Ltd
Crompton Greaves Ltd
PRICE
% CHANGE
19,696.86
5,911.50
805.90
1,117.35
690.15
648.45
117.65
892.65
225.25
152.85
149.15
497.50
67.50
275.35
55.25
2,614.00
2,681.30
196.20
1,439.40
537.95
1,397.25
524.25
770.75
487.00
853.45
1,837.90
359.50
600.90
367.20
2,231.00
497.85
373.15
974.20
0.00
6,473.00
846.25
344.65
640.55
476.55
145.10
376.70
86.10
324.20
959.30
354.15
903.10
1,295.55
329.75
623.35
324.25
283.15
2.25
2.17
0.61
1.88
1.54
-0.10
0.47
1.21
1.46
2.58
1.60
0.68
3.37
-1.40
0.36
1.82
0.02
2.91
1.93
2.35
1.41
-1.06
1.44
2.19
1.54
0.19
2.06
2.14
1.49
1.49
1.87
0.19
1.25
0.00
-0.62
0.15
-0.25
0.02
0.81
1.43
3.32
1.47
1.28
0.00
-0.92
6.72
7.10
-2.50
2.26
2.30
2.96
PRICE
% CHANGE
11,734.72
86.00
70.50
22.01
204.00
59.86
24.00
12.40
141.69
55.10
366.56
124.60
7.77
10.85
29.44
6.21
512.00
13.66
9.00
145.45
670.00
24.19
65.75
575.00
296.00
-0.52
1.18
-0.03
-3.21
0.00
-1.14
-0.87
-0.24
1.94
-1.80
-1.03
-0.48
-0.38
1.78
-1.74
0.49
-0.35
0.00
-1.10
0.21
0.14
-1.31
-2.22
0.00
0.00
Cummins India Ltd
D B Realty Limited
Dabur India Ltd
Dish Tv India Ltd
Divis Laboratories Ltd
DLF Limited
Dr Reddy’s Laboratories Ltd
Educomp Solutions Ltd
Emami Ltd
Engineers India Ltd
Essar Oil Ltd
Exide Industries Ltd
The Federal Bank Ltd
Financial Technologies (India) Ltd
Fortis Healthcare India Ltd
Great Eastern Shipping Co Ltd
Gail India Ltd
GlaxoSmithKline Consumer Healthcare Ltd
GlaxoSmithkline Pharmaceutical Ltd
Glenmark Pharmaceuticals Ltd
GMR Infrastructure Ltd
Godrej Consumer Products Ltd
Godrej Industries Ltd
Grasim Industries Ltd
Gujarat State Petronet Ltd
GVK Power and Infrastructure Ltd
Havells India Ltd
Hcl Technologies Ltd
HDFC Bank Ltd
Hero Honda Motors Ltd
Hindustan Copper Ltd
Hindustan Unilever Ltd
Hindustan Unilever Ltd
Hindustan Zinc Ltd
Hindustan Petroleum Corp Ltd
HindalCo Industries Ltd
HMT Ltd
Housing Development Finance Corp Ltd
Housing Development and Infrastructure Ltd
IFCI Ltd
Indian Oil Corp Ltd
ICICI Bank Ltd
IDBI Bank Ltd
Idea Cellular Ltd
Indiabulls Real Estate Ltd
Indiabulls Financial Services Ltd
Indiabulls Power Ltd
Indian Bank
Indian Hotels Co Ltd
Indian Overseas Bank
Indraprastha Gas Ltd
PRICE
% CHANGE
PRICE
% CHANGE
671.95
114.60
103.15
68.10
709.10
251.15
1,632.45
467.55
398.30
300.00
137.00
143.05
433.40
894.10
161.75
281.25
474.65
2,265.00
2,135.40
295.85
42.70
385.90
192.65
2,555.85
101.30
28.95
390.50
497.40
2,372.05
1,735.10
300.60
0.00
280.90
145.20
360.80
209.45
62.80
717.15
186.80
55.80
332.40
1,128.05
147.95
66.75
147.70
171.45
23.70
235.65
89.60
155.75
313.30
-0.07
0.66
0.68
0.22
0.27
0.32
1.17
5.38
-2.03
-2.22
0.96
0.85
3.78
2.56
2.02
1.42
2.14
1.80
-0.28
0.87
2.89
0.30
5.62
1.00
1.25
3.58
1.84
1.55
3.30
5.86
0.47
0.00
2.71
-0.48
4.59
0.96
1.05
3.92
2.10
2.48
2.10
2.67
2.25
2.38
5.27
5.35
0.42
2.77
1.82
3.18
1.23
Indusind Bank Ltd
280.15
Infosys Technologies Ltd
3,306.00
Infrastructure Development Finance Co Ltd 159.40
IRB Infrastructure Developers Ltd
211.30
Ispat Industries Ltd
23.85
ITC Ltd
189.90
Jsw Steel Ltd
962.40
Jain Irrigation Systems Ltd
179.15
Jaiprakash Associates Ltd
98.20
Jaiprakash Hydro Power Ltd
49.75
Jaypee Infratech Ltd
63.65
Jet Airways India Ltd
471.65
Jindal Saw Ltd
205.00
Jindal Steel And Power Ltd
681.80
JSW Energy Ltd
80.85
Jubilant Foodworks Ltd
599.75
Kotak Mahindra Bank Ltd
455.45
Lanco Infratech Ltd
43.95
Larsen & Toubro Ltd
1,717.60
LIC Housing Finance Limited
225.80
Lupin Ltd
413.60
M M T C Ltd
956.20
Mahindra & Mahindra Financial Services Ltd 791.50
Mahindra And Mahindra Ltd
728.45
Manappuram General Finance & Leasing Ltd 127.05
Moil Ltd
397.50
Marico Ltd
143.90
Maruti Suzuki India Ltd
1,277.65
Motherson Sumi Systems Ltd
213.80
Mphasis Ltd
449.75
Mangalore Refinery and Petrochemicals Ltd
71.20
Mundra Port and Special Economic Zone Ltd 147.60
NTPC Ltd
187.75
National Fertilizers Limited
107.95
National Aluminium Co Ltd
98.25
Nestle India Limited
3,736.05
Neyveli Lignite Corp Ltd
113.20
NHPC Ltd
25.40
NMDC Ltd
286.40
Oil And Natural Gas Corporation Limited
288.35
Oberoi Realty Ltd
256.55
Oil India Ltd
1,319.95
Opto Circuits (India) Ltd
291.75
Oracle Financial Services Software Ltd
2,066.10
Oriental Bank Of Commerce
378.60
Pantaloon Retail (India) Ltd
281.70
Patni Computer Systems Ltd
477.80
Petronet Lng Ltd
132.10
Pipavav Shipyard Ltd
82.05
Piramal Healthcare Ltd
444.20
Power Finance Corp Ltd
254.85
2.13
2.05
3.67
0.76
0.63
2.68
0.73
0.87
7.09
3.11
3.58
2.03
0.99
0.44
1.95
1.21
2.94
3.41
3.26
1.83
1.21
-0.01
3.23
2.59
-0.43
-1.16
-2.47
3.22
-0.44
0.46
1.86
0.85
2.15
0.47
1.39
0.72
0.80
0.59
0.10
1.82
0.94
2.48
1.18
1.26
-0.50
0.16
0.30
3.00
0.98
-0.52
2.10
PRICE
% CHANGE
PRICE
% CHANGE
34.70
62.90
198.75
12.70
13.00
40.30
137.35
10.50
53.50
7.75
72.90
45.53
122.05
19.95
37.00
48.24
168.00
288.29
222.00
53.00
99.99
7.52
59.99
2.58
18.15
0.67
0.70
-1.73
-1.24
-0.46
-1.68
-0.06
-0.38
0.55
12.81
-0.19
0.00
0.82
0.00
-1.15
0.50
-1.15
-5.00
0.23
-0.04
-0.24
-1.44
0.00
0.78
0.83
Kot Addu Power Co Ltd
41.50
Lafarge Pakistan Cement Ltd
3.14
Lotte Pakistan PTA Ltd
15.68
Lucky Cement Ltd
69.75
Mari Gas Compamny Ltd
108.15
MCB Bank Ltd
204.50
Media Times Ltd
18.50
Meezan Bank Ltd
17.71
Millat Tractors Ltd
516.21
Murree Brewery Co Ltd
100.00
National Bank Of Pakistan
55.85
National Refinery Ltd
323.99
Nestle Milk Pak
3,435.00
Netsol Technologies Ltd
23.10
New Jubille Insurance Co Ltd
73.00
NIB Bank Ltd
1.95
63.43
Nishat Mills Ltd
Oil And Gas Development Co Ltd
130.49
Pakistan International Airline Corp
2.55
Pakistan National Shipping Corp
30.10
Pakistan Telecommunication Co Ltd
16.57
Pace Pakistan Ltd
3.42
Packages Ltd
114.40
Pak Elektron Ltd
11.50
Pakistan International Container Terminal Ltd 70.02
0.48
-0.32
-0.57
-0.41
-0.78
-0.45
0.00
-0.45
0.23
2.15
-0.37
1.09
-2.04
-1.53
1.11
-2.99
-0.31
-1.72
1.59
-0.17
-0.18
-0.29
-0.16
-8.00
-0.20
Power Grid Corp Of India Ltd
Punjab National Bank
Rajesh Exports Ltd
Ranbaxy Laboratories Ltd
Rashtriya Chemicals & Fertilisers Ltd
Reliance Capital Ltd
Reliance Communications Ltd
Reliance Infrastructure Ltd
Reliance Natural Resources Ltd
Reliance Power Ltd
Reliance Industries Ltd
Religare Enterprises Ltd
Rural Electrification Corp Ltd Rec
State Bank Of India
Sesa Goa Ltd
Shipping Corp Of India Ltd
Shree Cement Ltd
Shree Renuka Sugars Limited
Shriram Transport Finance Co Ltd
Siemens Ltd
Sintex Industries Ltd
Sks Microfinance Ltd
Steel Authority Of India Ltd
Sterling International Enterprises Ltd
Sterlite Industries India Ltd
Sun Pharmaceutical Industries Ltd
Sun Tv Network Ltd
Suzlon Energy Ltd
Syndicate Bank Ltd
Tata Chemicals Ltd
Tata Communications Ltd
Tata Consultancy Services Limited
Tata Global Beverages Ltd
Tata Motors Ltd
Tata Power Co Ltd
TATA Steel Ltd
Tech Mahindra Ltd
Thermax Ltd
Titan Industries Ltd
Torrent Power Ltd
UCO Bank
Ultratech Cement Ltd
Union Bank Of India
Unitech Ltd
United Breweries Ltd
United Phosphorus Ltd
United Spirits Ltd
Videocon Industries Ltd
Vijaya Bank
Voltas Ltd
KA R A C H I
Karachi Stock Exchange (Guarantee) Ltd
Abbott Laboratories Pakistan Ltd
Adamjee Insurance Co Ltd
Agritech Ltd
Al Ghazi Tractors Ltd
Allied Bank Ltd
Arif Habib Corp Ltd
Askari Bank Ltd
Atlas Honda Ltd
Attock Cement Pakistan Ltd
Attock Petroleum Ltd
Attock Refinery Ltd
Azgard Nine Ltd
Bank Alfalah Ltd
Bank AL Habib Ltd
The Bank Of Punjab
Bata Pakistan Ltd
Bestway Cement Ltd
Byco Petroleum Pakistan Ltd
Clariant Pakistan Ltd
Colgate Palmolive (Pakistan) Ltd
D G Khan Cement Company Limited
Dawood Hercules Chemicals Ltd
Dreamworld Ltd
East West Insurance Co Ltd
E F U General Insurance Ltd
Efu Life Assurance Ltd
Engro Corporation Ltd
Engro Polymer and Chemicals Ltd
Fatima Fertilizer Co Ltd
Fauji Fertilizer Bin Qasim Ltd
Fauji Fertilizer Co Ltd
Faysal Bank Ltd
Ghani Glass Ltd
Gharibwal Cement Ltd
Glaxo SmithKline Pakistan Ltd
Grays of Cambridge (Pak) Ltd
Habib Bank Ltd
Habib Metropolitan Bank Ltd
The Hub Power Co Ltd
Ibrahim Fibres Ltd
ICI Pakistan Ltd
Indus Dyeing & Manufacturing Co Ltd
Indus Motor Co Ltd
International Industries Ltd
IGI Insurance Ltd
Jahangir Siddiqui & Co Ltd
Javedan Cement Ltd
Karachi Electricity Supply Co Operation Ltd
Kohinoor Energy Ltd
Pakistan Oilfields Ltd
Pakistan Petroleum Ltd
Pakistan Refinery Ltd
Pakistan Reinsurance Company Ltd
Pakistan Services Ltd
Pakistan State Oil Co Ltd
Pak Suzuki Motor Co Ltd
Pakistan Telephone Cables Ltd
Pakistan Cables Limited
Pakistan Tobacco Co Ltd
Philip Morris (Pakistan) Ltd
Picic Growth Fund
Rafhan Maize Products Co Ltd
Security Papers Ltd
Shell Pakistan Ltd
Shifa International Hospitals Ltd
Siemens(Pakistan) Engineering Co Ltd
Soneri Bank Ltd
Standard Chartered Bank Pakistan Ltd
Sui Northern Gas Pipelines Ltd
Sui Southern Gas Co Ltd
Thal Ltd
Trg Pakistan Ltd
Unilever Pakistan Ltd
Unilever Pakistan Foods Ltd
29
Standard & Poor’s 500
Standard & Poor’s 100
Alcoa Inc
Apple Inc
Abbott Laboratories
American Electric Power Co Inc
Allstate Corp
Amgen Inc
Amazon.com Inc
Apache Corp
Avon Products Inc
American Express Co
Boeing Co
Bank of America Corp
Baxter International Inc
Baker Hughes Inc
Bank of New York Mellon Corp
Bristol Myers Squibb Co
Berkshire Hathaway Inc
Citigroup Inc
Caterpillar Inc
Colgate Palmolive Co
Comcast Corp
Capital One Financial Corp
ConocoPhillips
Costco Wholesale Corp
Cisco Systems Inc
CVS Caremark Corp
Chevron Corp
E I Du Pont De Nemours And Co
Dell Inc
Walt Disney Co
Dow Chemical Co
Devon Energy Corp
EMC Corp
Emerson Electric Co
Entergy Corp
Exelon Corp
Ford Motor Co
Freeport Mcmoran Copper and Gold Inc
Fedex Corp
General Dynamics Corp
General Electric Company
Gilead Sciences Inc
Google Inc
Goldman Sachs Group Inc
Halliburton Co
Home Depot Inc
H J Heinz Co
Honeywell International Inc
Hewlett Packard Co
International Business Machines Corp
Intel Corp
Johnson & Johnson
JPMorgan Chase & Co
Kraft Foods Inc
Coca Cola Co
Lockheed Martin Corp
Lowes Companies Inc
Mastercard Inc
McDonalds Corp
Medtronic Inc
Metlife Inc
3M Co
Altria Group Inc
Monsanto Co
Merck & Co Inc
Morgan Stanley
Microsoft Corp
Nike Inc
National Oilwell Varco Inc
Norfolk Southern Corp
News Corp
Oracle Corp
Occidental Petroleum Corp
Pepsico Inc
Pfizer Inc
PRICE
% CHANGE
1,317.28
589.17
16.82
333.47
50.82
34.97
31.77
55.21
181.43
122.62
27.80
46.03
72.39
13.41
54.46
67.88
29.81
27.39
81.43
4.53
107.41
82.04
24.17
51.62
77.73
76.49
17.36
35.86
104.00
53.79
15.09
41.86
36.89
87.31
26.42
57.30
65.76
40.13
14.85
53.18
93.83
72.23
20.04
41.30
575.99
162.43
45.79
37.68
49.64
57.24
41.29
164.70
19.81
59.78
46.62
32.26
67.22
79.37
26.88
267.03
77.45
40.01
44.63
92.98
26.58
68.85
33.50
27.01
25.82
78.88
75.27
67.92
17.51
33.85
97.00
66.64
20.39
0.24
0.14
0.72
0.32
0.53
1.10
0.51
1.08
0.53
0.18
-0.57
0.02
-0.94
-0.45
0.26
0.49
-0.50
-0.18
-0.31
-0.44
0.79
-0.61
-0.58
0.00
0.74
0.05
-0.46
-0.69
-0.17
0.07
2.65
0.55
-0.19
1.55
2.21
0.24
0.61
0.91
-0.40
-0.51
-0.27
-0.95
0.15
0.39
0.94
1.25
0.99
-0.21
-0.22
-0.50
0.51
0.89
0.25
-0.27
-0.04
0.37
0.48
-1.24
-0.78
1.55
1.03
-0.65
-0.31
0.66
-0.45
-0.58
-0.18
0.75
0.70
0.87
0.84
0.22
2.34
1.33
0.10
0.11
-0.34
PRICE
% CHANGE
9,641.18
585.45
610,000
1,009
4,535
826
1,409
961
255
20,060
564
1,388
778
176
2,538
1,451
1,616
1,085
204
13,310
4,455
4,555
312,000
2,248
4,990
1,114
310,500
2,065
1,407
8,420
2,241
621,000
560
1,065
5,590
922
464
525
13,630
4,150
397
3,790
406
2,803
370
388
506,000
4,190
767
716
2,565
150,500
509
0.90
0.84
-1.61
-0.20
1.23
0.00
0.28
-2.93
0.39
0.25
-2.25
2.13
1.43
0.57
0.63
-1.36
2.02
-0.28
0.49
2.46
0.11
-0.11
0.16
-0.31
-0.20
-0.18
0.32
-0.96
-1.12
1.32
-0.36
-1.58
0.54
1.43
1.64
-0.86
1.09
0.96
2.48
0.36
1.79
-0.92
1.75
1.26
1.93
0.26
0.60
2.20
1.05
2.87
1.54
0.27
0.00
TO K Y O
Nikkei 225
Tokyo Stock Exchange Inc
Inpex Corp
Asahi Glass Co Ltd
Tdk Corp
Itochu Corp
Mitsui Fudosan Co Ltd
Daiwa House Industry Co Ltd
Nippon Steel Corp
Keyence Corp
Marubeni Corp
Mitsubishi Estate Co Ltd
Sekisui House Ltd
Sumitomo Metal Industries Ltd
Denso Corp
Mitsui & Co Ltd
Sumitomo Realty & Development Co Ltd
Kirin Holdings Co Ltd
Kobe Steel Ltd
Fanuc Ltd
Tokyo Electron Ltd
East Japan Railway Co
Japan Tobacco Inc
Jfe Holdings Inc
Rohm Co Ltd
Sumitomo Corp
West Japan Railway Co
Seven & I Holdings Co Ltd
Sumitomo Metal Mining Co Ltd
Kyocera Corp
Mitsubishi Corp
Central Japan Railway Co
Toray Industries Inc
Sumitomo Electric Industries Ltd
Murata Manufacturing Co Ltd
Aeon Co Ltd
Mitsui Osk Lines Ltd
Asahi Kasei Corp
Smc Corp
Nitto Denko Corp
Mitsubishi Ufj Financial Group Inc
Nippon Telegraph And Telephone Corp
Sumitomo Chemical Co Ltd
Komatsu Limited
Mitsubishi Heavy Industries Ltd
Resona Holdings Inc
Kddi Corp
Shin Etsu Chemical Co Ltd
Kubota Corp
Nissan Motor Co Ltd
Sumitomo Mitsui Financial Group Inc
NTT Docomo Inc
Mitsubishi Chemical Holdings Corp
Information contained herein is believed to be reliable & has been obtained from sources believed to be reliable, but its accuracy & completeness cannot be guaranteed. This publication is provided for information purposes only and is not intended as an offer or solicitation for the sale of any financial instrument. Prior to entering into any transaction, investors are advised to obtain independent advice
regarding the suitability of particular financial instruments/strategies based on their investment objectives.
30
CORPORATE DOSSIER
ASML
posts
$572mn
profit in Q1
Drake & Scull
seals second
acquisition
deal in Saudi
TRIBUNE NEWS NETWORK
DOHA
AFP
THE HAGUE
DUTCH firm ASML, a global
supplier of computer chipmaking systems, predicted
Wednesday a record year
ahead as it posted quarterly
profits of 395 million euros,
almost four times last year’s
figure.
The 395 million euro ($572
million) in net profits dwarfed
the 107 million euros the
company garnered in the first
three months of 2010 and
was above the predictions of
analysts polled by Dow Jones
Newswires.
“A strong first quarter confirms our confidence that
2011 is expected to be another
record year for ASML,” said
ASML president and CEO
Eric Meurice.
However he admitted that
there were problems ahead,
not least as a result of the devastating recent earthquake
and tsunami in hi-tech Japan.
“The semi-conductor manufacturers are certainly showing caution in assessing the
economic impact of the
Japanese earthquake on their
supply chain as well as on the
overall end-product market,”
he said.
A number of deliveries have
already had to be “re-timed”
he added.
However Meurice assured
that such schedule changes
do not impact significantly
our revenues expectation for
the year” expected to hit a
record “level clearly above 5
billion euros.”
“The structural needs for
lithography capacity continue
to be sufficiently large for
2011,” he said.
Lithography refers to the
system of transferring circuit
patterns onto ever smaller
computer chips.
ASML employs 7,400 people in 16 countries.
Mahindra Satyam
bags QU ERP deal
DOHA
MAHINDRA Satyam, the
brand name of Satyam
Computer Services Ltd., a
leading global consulting
and IT services provider,
has revealed that it has been
awarded a large Enterprise
Resource Planning (ERP)
contract
from
Qatar
University, the largest academic institution in Qatar.
The contract, which will
be implemented over a
nine-month period, will
cover the end-to-end implementation of the Oracle EBiz Suite R12.
DRAKE
&
Scull
International (DSI) PJSC
announced the successful
completion of the agreement for its second acquisition in Saudi Arabia. DSI
PJSC acquired 100 percent
stake of “International
Centre for Contracting Co
(ICC) ” for an enterprise
value of SR128 million.
The announcement follows a string of consecutive
project wins in the first
quarter of 2011 in Oman,
Egypt and Saudi Arabia for
a combined value of AED
2.62 billion.
ICC is a Grade 1 classified
prominent
contractor
based in Riyadh with
offices across the kingdom
in Jeddah and Dammam.
The company has a healthy
backlog which stood at
AED 800 million as of
December 2010. Under the
terms of the deal, ICC will
be consolidated under
Drake & Scull Construction
(DSC KSA), a wholly owned
civil contracting subsidiary
of
Drake
&
Scull
International (DSI) PJSC.
Remarking
on
the
achievement,
Khaldoun
Tabari, CEO of DSI PJSC,
said: “With the completion
of this latest acquisition,
DSI has reached the mile-
Workers at a Foxconn factory in Longhua, Guangdong province, China.
(REUTERS)
Foxconn mulls $12bn
investment in Brazil
AFP
BEIJING
TAIWAN IT giant Foxconn,
which makes iPads and
iPhones, is considering
investing $12 billion in
Brazil to build computer
and mobile phone components, Brazilian President
Dilma Rousseff has said.
Rousseff, who is in China
on her first major foreign
trip since taking office in
January, told reporters late
on Tuesday that Foxconn
had expressed its interest in
investing the money in
Brazil over the next “five to
six years”.
The Brazilian leader said
a working group had been
formed to study the propos-
al. Further details were not
provided and Foxconn officials did not immediately
respond to AFP requests for
comment on Wednesday.
Taipei-based Foxconn,
which has been plagued by
a spate of suicides and
labour problems in China
in recent years, is the
world’s largest maker of
computer components and
produces goods for Apple,
Sony and Nokia.
It currently employs
around one million workers
in China, about half of them
based in the southern
boomtown of Shenzhen,
which neighbours Hong
Kong.
The company said last
month it planned to trans-
Labour rights
activists have
blamed the string
of suicides at Foxconn on tough
working conditions,
highlighting the difficulties millions of
factory workers
face across China.
form its factories in
Shenzhen into an engineering base while moving
about 200,000 jobs inland
— where wages are lower
than in manufacturing hubs
on the coast.
Foxconn
has
been
expanding its workforce in
central China as it seeks to
scale back the size of its
biggest facility in Shenzhen.
It has previously said it
plans to hire up to 400,000
new workers this year,
mostly in the central
provinces, partly to keep up
production while cutting
maximum overtime hours.
Foxconn’s investment in
Brazil, if realised, would
create massive job opportunities in the world’s
eighth-largest economy,
and
would
advance
Rousseff’s goal of attracting more high-tech manufacturing.
At least 13 employees at
Foxconn died in apparent
suicides last year, according to Chinese state media.
After the deaths, Foxconn
raised wages by nearly 70
percent at its China plants.
In January, another
Foxconn employee apparently jumped to her death
in Shenzhen, the official
Xinhua news agency said.
Labour rights activists
have blamed the string of
suicides at Foxconn on
tough working conditions,
highlighting the difficulties
millions of factory workers
face across China.
Brazil and China signed
nearly two dozen agreements after talks between
Rousseff and Chinese
President
Hu
Jintao,
including a deal for the sale
of 35 Embraer E190 commercial jets to two Chinese
airlines worth up to $1.4
billion.
ICC is a Grade 1
classified prominent contactor
based in Riyadh
with offices across
the kingdom in Jeddah and Dammam.
stones it set to achieve
since its listing in 2009.
The strategies conceived at
the end of 2008 have been
highly successful despite
the uncertainties and challenges the construction
industry has faced.”
“The acquisition of ICC
reinforces our position as
the
leading
regional
provider of integrated endto-end contracting services
with a clear focus on
growth in the Saudi
Arabian Market. We are
delighted to have the
resources – both human
and technical – on the
ground in Saudi Arabia that
will allow us to service several prestigious projects
and target prominent
clients in this promising
and lucrative market.”
Tabari concluded: “With
the last acquisition DSI’s
current project portfolio
stands at AED 8.3 billion,
“We are confident that the
investments made over the
last 24 months will yield
positive results as we move
forward into quarter two
2011.”
Deutsche Bank plans
to sidestep US norms
AFP
FRANKFURT
The headquarters of Deutsche Bank, in Frankfurt, recently.
(REUTERS)
GERMANY’S biggest bank,
Deutsche Bank, plans to
restructure its US operations
to sidestep new regulations
that could have forced it to
raise billions in new capital,
a report said Wednesday.
The Wall Street Journal
reported that the bank wanted to operate with a thinner
capital cushion than the new
rules envisioned.
Contacted
by
AFP,
Deutsche Bank declined to
comment.
Deutsche executives feared
the bank would have to put
up as much as 20 billion dollars in new capital to offset
losses in its US unit that have
left it undercapitalised, the
newspaper said, citing an
internal company document.
The bank worried such a
move would have hit its own
capital levels.
Deutsche executives
feared the bank
would have to put up
as much as 20 billion
dollars in new capital
to offset losses in its
US unit that have left
it undercapitalised.
The restructuring would
see its Taunus Corp holding,
with some $373 billion in
assets, become a simple subsidiary of its parent company
while maintaining the same
activities, sources told the
newspaper.
Deutsche is the second
major European bank to
engineer such a move after
Britain’s Barclays changed
the status of its US bank
holding company to erase a
capital shortfall possibly in
excess of $12 billion, the
paper said.
For the past decade, the
Federal Reserve has not
required the US arms of foreign banks to meet the same
capital requirements as US
banks, so long as their foreign parent companies are
financially healthy.
But the Dodd-Frank Act,
which became law in 2010 in
response to the global financial crisis, closed that loophole, effective in 2015, the
Wall Street Journal said.
MARKET MATRIX
31
Rush for iron ore shows sign of losing steam
REUTERS
SHANGHAI
SPOT offers of iron ore to
China were steady on
Wednesday while global
price indexes were mixed,
reflecting market concerns
that Chinese steel mills may
be slowing down their purchases given the recent rapid
rise in spot prices.
Most Chinese steelmakers,
the biggest consumers of
iron ore, have cut steel prices
for May bookings, suggesting a stockpiling-fuelled
rush for iron ore may soon
lose steam.
“Iron ore prices are likely
to fall in the near future,
mainly due to margin constraints,” said Cameron
Hunt, head of Metal
Bulletin’s Iron Ore Index.
“The spring construction
increase has already been
factored into the iron ore
demand levels, so any slippage from that will impact
steel prices and then iron ore
prices.”
Indian ore with 63.5 percent iron content was quoted
at $188-190 a tonne, including freight, on Wednesday,
unchanged for a second day,
Chinese consultancy Mysteel
said.
A few Chinese traders are
still upbeat iron ore prices
will stay firm in coming
weeks on hopes that steelmakers are producing at utilisation rates of up to 90 percent as construction activity
picks up.
Major iron ore indexes,
reflecting spot prices and
used by global miners in
determining supply contracts, were mixed on
Tuesday.
The Steel Index’s 62 per-
cent benchmark fell $1.10 to
$181.90 per tonne, after hit-
Most Chinese
steelmakers, the
biggest consumers
of iron ore, have
cut steel prices for
May bookings, suggesting a stockpiling-fuelled rush for
iron ore may soon
lose steam.
ting a six-week high on
Monday.
Metal Bulletin’s 62 percent
index rose 99 cents to
$182.44, its highest since
February 24. Platts 62 percent iron ore index was
unchanged at $184.50.
Shanghai steel rebar
futures
gained
on
Wednesday, tracking firmer
equities, after losses in the
previous session.
The most briskly traded
rebar contract for October
delivery on the Shanghai
Futures Exchange closed up
0.4 percent at 4,922 yuan
($752.5) a tonne.
“Shanghai rebar rallied on
GOING STRONG
rising equities and investors
are expecting no negative
news right now and remain
positive on the overall market outlook,” said Jiang
Zhiwei, an analyst with BOC
International Futures.
The benchmark Shanghai
Composite Index rose nearly
1 percent on a technical correction, following two days of
declines.
Rio Tinto , the world’s second-biggest iron ore producer, forecast its 2011 iron ore
output at 191 million tonnes,
roughly meeting market estimates despite cyclones and
Rising oil prices
affecting growth
in international
demand: IEA
REUTERS
NEW YORK
At the moment, gold is where the money is being attracted to. For every factor, like the tightening coming and other non-friendly (factors) for commodities, there are many
other commodity-friendly risks out there that make people very nervous.
North Africa worries, euro
zone, rates arrest gold slide
REUTERS
LONDON
GOLD rose in Europe on
Wednesday, recovering after
its biggest one-day drop in
nearly a month as the dollar
retreated amid expectations
the US Federal Reserve will
maintain its accommodative
monetary policy for now.
Spot gold was bid at
$1,457.86 an ounce at 0931
GMT, against $1,453.95 late in
New York on Tuesday. US gold
futures for June delivery rose
$5.60 an ounce to $1,459.20.
Gold fell below $1,445 an
ounce on Tuesday as falling
oil prices knocked commodities, but worries over unrest
in North Africa and euro zone
debt, plus expectations the
Fed would lag other central
banks in tightening monetary
policy, lent support. “At the
moment, gold is where the
money is being attracted to,”
said Peter Hillyard, an analyst
at ANZ Bank. “For every one
of those factors, like the tightening coming and other nonfriendly (factors) for commodities, there are many
other commodity-friendly
risks out there that make people very nervous.”
The prospect that US
authorities could rein in their
current accommodative monetary policy is a potential
stumbling block for gold,
which as a non-yielding asset
has a higher opportunity cost
when interest rates rise.
The metal has risen so far
this year as rate rises in the
euro zone, China and Australia
benefited other currencies versus the dollar, but Fed policy is
still being closely watched.
Dallas
Fed
President
Richard Fisher said in an article published on Wednesday
that the Federal Reserve risks
employing a monetary policy
that is too expansive and allows
inflation to run out of control.
“The direction of US monetary policy is the key theme this
quarter, and the uncertainty
surrounding this includes both
the timing of any tightening
decision as well as its implementation,” said UBS analyst
Edel Tully in a note. “This
means that gold’s movements
in the coming weeks will be
highly sensitive to the debates
among Fed members.”
“While any shift in rhetoric
in favour of the hawks would
likely push gold notably lower
in the short term, as long as
the probability of further
rains denting its output by 3
percent for the March quarter.
Chief Executive Tom
Albanese expected commodity prices to continue to
power higher this year, echoing Fortescue Metals ‘s forecast that iron ore prices will
likely remain reasonably
strong.
Iron ore swaps cleared by
the Singapore Exchange fell
on Tuesday. The April contract dropped $2.07 to
$179.88 a tonne, May fell
$2.55 to $173.25 and June
slipped $2.60 to $169.50.
quantitative easing remains
in investors’ minds, gold will
be well-supported on pullbacks,” she said.
Investment demand for gold
exchange-traded funds softened, meanwhile. Holdings of
the largest, New York’s SPDR
Gold Trust, slipping by nearly
a tonne on Tuesday.
Holdings of the largest silver ETF, the iShares Silver
Trust, eased around 30
tonnes from a record on the
same day, its biggest one-day
outflow in about a month.
Hefty inflows into the fund
this year have accompanied a
sharp rise in silver prices,
which peaked at 31-year highs
of $41.93 earlier this week.
“Silver remains the best
performer within the complex, consistent with our previous bullish short-term rat-
ing,” said Standard Chartered
in a weekly note.
“We still think a long silver
position is a very risky trade,
as the gold/silver ratio has
dropped to its lowest level
since 1983 and is now more
than 40 percent below the
average level of 60 in the last
12 years, but we have stuck to
our short-term bullish call for
now.” Silver was bid at $40.34
an ounce against $40.04.
Elsewhere Fresnillo Plc,
the world’s largest primary
silver producer, said output
declined 2.2 percent to 10.1
million ounces in the first
quarter due to lower ore
grades. Among other precious metals, platinum was
at $1,779.74 an ounce
against $1,765.70, while palladium was at $769.22
against $761.40.
GOLDMAN Sachs has
warned again of a price
reversal and key forecasters said expensive crude
could erode demand.
In its second report in as
many days, Goldman Sachs
urged investors to book profits, and traders said many
did.
Goldman expects Brent to
fall toward $105 in coming
months, the bank said in a
note emailed to clients, after
recommending on Monday
that they close its trade on a
basket of commodities that
included US crude.
“Fear of demand destruction is killing this market.
There is a feeling that the
recent rally lifted oil prices to
unsustainable levels,” said
High prices are
beginning to
dent oil demand
growth, the IEA, an
energy policy
adviser to Western
consuming
nations, said.
Slowed economic
growth could
cause prices to
correct, the
IEA said.
Phil Flynn, analyst at
PFGBest
Research
in
Chicago.
Sentiment was also diminished after two Saudi Arabiabased sources told Reuters
that a lack of customer
demand caused the kingdom
to lower production after an
increase in March to offset
lost Libyan crude.
A Reuters survey of analysts had forecast crude
stocks to be up 1.0 million
barrels, but projected distillate stocks to be up slightly
and gasoline stocks to be
down only 900,000 barrels.
“The draw in refined products
is certainly supportive,” said
John Kilduff, partner at Again
Capital LLC in New York.
“The decline in utilisation
rates looks like a real
retrenchment by (refiners).”
High prices are beginning
to dent oil demand growth,
the International Energy
Agency, an energy policy
adviser to Western consuming nations, said. Slowed economic growth could cause
prices to correct, the IEA said.
OPEC kept its 2011 oil
demand forecast steady in its
monthly report, but said the
group saw a risk that higher
oil prices could dent demand
for transport fuel.
A slightly higher demand
growth forecast for 2011 came
from the EIA, but it did lower
the forecast for 2012. US
retail gasoline demand fell
last week, with the four-week
average down against the
year-ago period, MasterCard
said in a weekly report. Saudi
Arabia pointing to slow
demand in deciding to
reverse its recent output hike
was treated by investors as
another sign of slack consumption.
Sources said Saudi Arabia
had trimmed production by
around 500,000 barrels per
day to around 8.5 million bpd
due to slow demand.
Japanese
consumption
remains in question as economic damage from last
month’s earthquake is likely
to be worse than first thought,
Japan’s economics minister
warned.
Threats
to
supply
remained as Libya’s conflict
continued, as did opposition
to current regimes in Yemen,
Syria and other countries in
the region.
France and Britain urged
NATO to do more to stop
Muammar Gaddafi’s forces
from bombarding civilians in
Libya, even as Qatar said it
had marketed 1.0 million barrels of crude on behalf of
Libyan rebels.
Yuan hits fresh trading high against US dollar
REUTERS
SHANGHAI
The yuan hit a fresh trading
high against the dollar on
Wednesday as the People’s
Bank of China unleashed a
new leg of yuan appreciation
to help fight imported inflation, traders said.
The central bank has engineered a series of record
highs for the Chinese currency since the start of this year
as a weaker dollar helped
send global commodity prices
surging, boosting imported
inflation for China, the
world’s fastest growing mar-
ket for staple goods.
Over the past eight trading
days, the PBOC has allowed
the yuan’s mid-point, or its reference rate from which dollar/yuan can rise or fall 0.5 percent in a given day, to hit
record highs nearly every day
except for a slight pullback on
Tuesday.
If the yuan rises too slowly,
lagging conditions in the global
market, China’s economy may
not be cushioned in time from
the effects of rising prices,
traders said, noting that it was
possible that policy makers
had reached a common understanding on the necessity for
quicker appreciation.
“A consensus appears to
have been built up among
policy makers in China to use
The currency hit
an all-time high
of 6.5317 in late
trade, toppling
the previous
record of 6.5350
hit last Friday
the currency as part of its
weapons to fight inflation,”
said a trader at a European
bank in Shanghai.
“A daily yuan rise of only a
few dozen pips may still be too
slow to help China before con-
ditions actually change, for
instance, if the US dollar suddenly rebounds on the back of
its economic recovery.”
Spot yuan closed at 6.5340
against the dollar, up from
Tuesday’s close of 6.5403
The currency hit an all-time
high of 6.5317 in late trade,
toppling the previous record
of 6.5350 hit last Friday and
having appreciated 4.50 percent since it was depegged in
June 2010, and 0.88 percent
so far this year.
Before trading began, the
PBOC fixed the yuan’s midpoint at a record high of
6.5369, up from Tuesday’s
6.5440.
The fixing is used by the
PBOC to express the government’s intentions for the currency.
Traders said it may be more
to China’s benefit to let the
yuan appreciate faster to take
advantage of the higher value
of the currency to fight inflation while the PBOC could
still pull back the currency
quickly if market conditions
change.
China has all along stressed
gradualism in reforming its
foreign exchange regime, a
euphemism for its reluctance
to let the yuan rise faster.
An employee seals yuan banknotes at a branch of Industrial and
Commercial Bank of China, in Huaibei, China, recently. (REUTERS)
32
BOTTOMLINE
Big scope for growth in M-E Japan economy
forecast
construction sector: Study downgraded on
disaster impact
DOHA
DESPITE new threats posed
by political unrest and a distinct lack of robust business
continuity plans in place to
provide protection in a high
risk market, the Middle East
construction industry has
great potential for sustained
growth, industry experts say.
In addition to Saudi Arabia
and Qatar, which both present the biggest opportunities,
India is seen as a prime market for growth, while Kuwait
and the Emirates of Ajman
and Fujairah in the UAE, also
have significant potential.
In a white paper examining
the opportunities and challenges facing the construction
industry in the Middle East in
the wake of economic and
political turmoil, the energy,
infrastructure and healthcare
sectors are singled out for
presenting the most lucrative
business opportunities.
Published by Informa
Exhibitions, organisers of
CityBuild Abu Dhabi, the
Middle East’s premier event
for construction products, the
report underlines an urgent
need for more nationals to be
brought into the industry.
It highlights that the construction business needs to be
less dependent on expatriate
workforces, and also must look
towards new markets to find
REUTERS
TOKYO
In addition to Saudi Arabia and Qatar, which both present the biggest opportunities, India is seen as a prime market for growth.
business, rather than rely too
heavily on markets it knows.
The white paper, ‘Re-building the Middle East’, is the
result of a round table discussion attended by delegates
who will be addressing next
week’s CityBuild Construction Summit 2011, and
experts in the Middle East
construction industry. Kevin
Brass, a business reporter
with The National, was the
moderator.
The panel of industry
experts warned that companies operating in high risk
markets in the Middle East
QIB operating income
up 26% in Q1, net
profit rises 7%
DOHA
QATAR Islamic Bank (QIB)
announced a net profit of
QR321 million, up 7 percent
over the Q1 2010 level.
The core business of the
bank has grown strongly in
Q1, leading to a 26 percent
increase in operating income
which reached QR648 million
in the first quarter of 2011
compared to QR515 million in
the corresponding period last
year, a company press release
has said. Total equity reached
QR10.3 billion by the end of
the first quarter of 2011, an
increase of 27 percent compared to same period in 2010.
The ROAE stood at 15 percent, and the quarterly EPS
(basic and diluted) at QR1.45
was 2.1 percent higher than
EPS of QR1.42 in the first
quarter of the previous year.
The strong results recorded
for the quarter reflect the fundamental strength and sound
financial management which
Mubadala sets
final price of
two-part bond
ZAWYA DOW JONES
LONDON
MUBADALA Development
Co, an Abu Dhabi government-owned firm, has set
final pricing guidance on its
two-part, dollar-denominated
benchmark-sized bond issue,
one of the banks leading the
deal said on Wednesday.
The firm is to price its $750
million five-year bond at 180
basis points over Treasurys,
which is at the tight end of
initial guidance set in the
area of 185 basis points over
Treasury’s.
QIB Chairman Sheikh Jassim
bin Hamad bin Jassim bin
Jabor al Thani
have been a hallmark of QIB.
In the first quarter of 2011
net financing income registered a healthy increase of 8.6
percent YoY, of QR457 million as against QR421 million
in Q1 of the previous year .Fee
income was QR65 million
same period of last year.
Unrestricted investment
account holders’ share of
profit was QR113.6 million
2010
representing
an
increase of 14.7 percent which
is derived by a robust growth
in URIA by 31.2 percent, rising to QR19.84 in Q1 as compared to QR15.12 billion in Q1
of the preceding year. This is
a testament of QIB balanced
funding strategy and customers continued support
and confidence. The bank’s
total assets stood at QR49.86
billion, a strong growth of
25.6 percent compared with
the same period a year earlier.
The group ROAA stood at 3
percent, reflecting on efficient
asset management.
QIB Chairman Sheikh
Jassim bin Hamad bin
Jassim bin Jabor al Thani,
said: “The remarkable results
that QIB has achieved during
Q1 of 2011 are due to the
implementation of a well
structured plan adhering to
QIB’s five-year strategic plan
(2008-2012), which aims at
strengthening the bank’s
business expansion locally
and internationally, building
a sound and balanced financial position, and effective
risk management.”
are in danger of collapse in
the event of financial crises,
civil turmoil and natural disasters, if they do not develop
strong business continuity
plans.
“Many big organisations do
not have a business continuity framework in place,” said
panelist Ahmed Alkhatib,
Abu Dhabi General Manager
of BSI, the standards, management systems assessment
and certification specialists.
“Some have a business continuity plan but not a real,
rehearsed business continuity
framework”.
QNB to distribute
Nakilat dividend
DOHA
QATAR National Bank
(QNB) has been appointed
official dividend distribution
agent for Qatar Gas
Transport Company (Nakilat) a joint stock company listed on the Qatar Exchange.
QNB will provide Nakilat
with dividend distribution,
dividend account administration and other administrative support services to
ensure shareholders have
easier and more efficient
access to their earned dividends a company press
release said.
Through this service, the
shareholders will receive
their dividends through
checks to be sent to their
mails or the dividends will
be directly deposited in
their accounts, once they
register for this service.
Shareholders only have to
provide the shareholder
number, the ID card, or
power of attorney in case of
the absence of the shareholder and the presence of a
custodian.
This announcement follows similar agreements
with Qtel, Qatar Navigation
and Al Meera for whom
QNB is also the official dividend distribution agent.
The dividend distribution
service is based on QNB’s
intricate understanding of
the specific needs of each
partner,
and
follows
detailed and intensive consultation with each partner
to determine needs and
outcomes.
QNB will be able to provide Nakilat’s shareholders
with a dividend distribution
service that is built on a
strong banking relationship
with the shareholder, whilst
providing Nakilat with the
most advanced technological solutions in the market
to be able to deliver this
added value to its shareholders.
QNB has for many years
offered the most comprehensive range of dividend
distribution solutions to
customers in Qatar, including dividend collection services for its customers who
opt in to accept their dividend payments directly into
their QNB accounts, local
banks account, and international banks account.
JAPAN’S government has
downgraded its assessment
of the economy for the first
time in six months to reflect
last month’s devastating
earthquake and tsunami,
while wholesale prices rose at
the fastest pace in more than
two years in an ominous sign
for company profit margins.
A loss of electricity from a
crippled nuclear power plant
and radiation leaks could
weigh on the outlook for
some time, the government
warned on Wednesday,
though it still expects the
economy to recover later this
year as reconstruction begins
in the northeastern areas
wrecked by the tsunami.
Higher input costs could
also squeeze profit margins at
companies struggling to
secure enough parts to keep
their factories running.
“The biggest risks, or
uncertain factors for the
economy, are when power
supplies
will
recover,
whether the nuclear situation
will keep from worsening,”
Economics Minister Kaoru
Yosano said.
“It will cause various indirect damage, such as dampening consumer sentiment,
but the economy will pick up
toward the end of this year.”
Still, few analysts expect a
convincing end to deflation
in the near term as companies remain reluctant to pass
on higher costs to consumers
shaken by the world’s costliest natural disaster.
The government’s downward revision on the economy echoes that of the Bank of
Japan (BoJ), which cut its
assessment last week as policymakers slowly come to
grips with the long-term
impact of the natural disaster
on March 11.
“The economy is showing
weakness recently due to the
influence of the Great East
Japan Earthquake,” the government said in its monthly
economic report for April.
That compared with the
previous month’s report that
said the pickup in the economy was only weakly self-sustaining and there was concern
about the influence of the
quake .
The government also
downgraded its views on key
sectors like exports, industrial production and private
consumption. And it warned
of downside risks to the outlook from power supply constraints, slow progress in
restoring supply chains and
the impact of rising oil
prices.
It expects the weakness to
continue for the near term
but hopes policy stimulus
and solid growth abroad will
help fuel a recovery.
Other data out on
Wednesday showed Japan’s
wholesale prices rose 2.0 percent in the year to March, the
fastest annual gain since
November 2008 and above
the market forecast of 1.9
percent.
Higher commodity prices
were part of the reason that
wholesale prices accelerated,
but supply shortages are also
likely to apply upward pressure in April when many
Japanese firms revise prices
they charge each other, a BOJ
official said.
“We see prices of steel and
chemicals rising. These are
industries that use a lot of
electricity. Since there are
electricity shortages, companies won’t be able to make as
much steel or chemicals as
they could in normal times,”
said Tamai Chino, economist
at Mizuho Research Institute
in Tokyo. “This will push up
prices of these goods further
Impact
of disaster
The government’s
downward revision
on the economy
echoes that
of the Bank of
Japan, which cut
its assessment
last week
and pressure earnings at
companies that use those
materials for final goods.”
Nissan Motor Co said on
Wednesday it would use
three Japanese holidays in
May to make up for some
production lost due to supply
disruptions after the magnitude-9.0 earthquake.
Toyota Motor Corp plans
to stop production in five
plants in Europe for several
days in April and May due to
a shortage of supplies from
Japan. The government cut
its assessment on exports for
the first time in four months,
in part as car makers struggle
to re-start production.
Likewise, it cut its assessment on industrial output for
the first time in five months
and its view on private consumption for the first time in
two months.
The BoJ, which projects a
slight rise in the core consumer price index in the year
to next March, is set to
announce new projections on
prices and growth in a semiannual outlook report due on
April 28.
Japan has been mired in
deflation, or debilitating
price falls, for much of the
past 15 years, so a bout of
consumer price inflation
might actually be welcome.

Libya rebels seek oil export boost from `minimal` levels

Transcription

Similar documents

AVS24 2.4 GHZ Wireless Audio/Video Sender

A golden opportunity to A golden opportunity to

Esperus Systems Ltd

Projects - Parcar Engineers

Exhibition–Bazaar of New Russian and West Literature

Golf Thank You

2013 dt 04.07.2013 on th - the official website of Bangalore Customs

wallcoverings - Messe Frankfurt

Contact Us! - NWT Disabilities Council

shortlisted projects - West Lindsey District Council