Egypt's stock exchange will open on Wednesday and just before a deadline that would have seen the stock market removed from MSCI's emerging market index.
The EGX 100, Cairo's benchmark index which has been closed for almost seven weeks, will open on March 23, Hisham Turk, the spokesman of the Cairo stock exchange said today.
The market fell more than 20 per cent in the run up to the revolution that eventually toppled the former president Hosni Mubarak.
Locally, Air Arabia extended its popularity with investors as it led the way on Dubai's market as other stocks slipped as traders profit-took.
The Sharjah-based low cost carrier, often seen as a defensive stock that does well during times of economic instability, ended the day up 1.5 per cent to 82 fils. Nearly 30 million shares changed hands.
Abu Dhabi's heavyweight banks led the momentum in the capital as anticipation that first quarter earnings will be positive helped drive the market.
National Bank of Abu Dhabi, the UAE's second largest lender by assets, was the top gainer in the capital and rose 2.2 per cent to Dh11.65.
Abu Dhabi Islamic Bank rose 1.3 per cent to Dh3.1, First Gulf Bank advanced 1.6 per cent to Dh16.1 though Abu Dhabi Commercial Bank slipped 1.2 per cent to Dh2.39.
Fund managers said a trickle of first quarter results expected in the next few weeks should offer a positive catalyst to regional markets.
"The market has been starved of good news so this will push everyone to jump on the bandwagon," Shehzad Janab, head of asset management and advisory at Daman Investments in Dubai.
He said the focus was particularly on the banking sector as lower provisions are expected to translate into better first quarter earnings.
But Gulf markets ended mixed after most rallied in the previous session buoyed by Saudi Arabia's multi-billion-dollar spending plan.
Saudi Arabia's Tadawul, the largest market in the Arab world, was trading 0.3 per cent higher at 6356.33.
The capital's index, the Abu Dhabi Securities Exchange General Index, edged 0.5 per cent higher to 2614.01 points and Dubai's stock market slipped 0.2 per cent to 1,506.37 points.
Elsewhere in the region, Kuwait's benchmark stock index closed 1 per cent higher at 6313.40; Doha's market fell 0.6 per cent to 8340.97. Muscat's market rose 0.2 per cent to 6365.52 and Bahraini shares up 0.7 per cent at 1401.
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Dengue fever symptoms
- High fever
- Intense pain behind your eyes
- Severe headache
- Muscle and joint pains
- Nausea
- Vomiting
- Swollen glands
- Rash
If symptoms occur, they usually last for two-seven days
COMPANY PROFILE
Company name: Klipit
Started: 2022
Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant
Based: Dubai, UAE
Industry: Digital receipts, finance, blockchain
Funding: $4 million
Investors: Privately/self-funded
PREMIER LEAGUE FIXTURES
Tuesday (UAE kick-off times)
Leicester City v Brighton (9pm)
Tottenham Hotspur v West Ham United (11.15pm)
Wednesday
Manchester United v Sheffield United (9pm)
Newcastle United v Aston Villa (9pm)
Norwich City v Everton (9pm)
Wolves v Bournemouth (9pm)
Liverpool v Crystal Palace (11.15pm)
Thursday
Burnley v Watford (9pm)
Southampton v Arsenal (9pm)
Chelsea v Manchester City (11.15pm)
PREMIER LEAGUE STATS
Romelu Lukaku's goalscoring statistics in the Premier League
Season/club/appearances (substitute)/goals
2011/12 Chelsea: 8(7) - 0
2012/13 West Brom (loan): 35(15) - 17
2013/14 Chelsea: 2(2) - 0
2013/14 Everton (loan): 31(2) - 15
2014/15 Everton: 36(4) - 10
2015/16 Everton: 37(1) - 18
2016/17 Everton: 37(1) - 25
Biog
Mr Kandhari is legally authorised to conduct marriages in the gurdwara
He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada
Father of two sons, grandfather of six
Plays golf once a week
Enjoys trying new holiday destinations with his wife and family
Walks for an hour every morning
Completed a Bachelor of Commerce degree in Loyola College, Chennai, India
2019 is a milestone because he completes 50 years in business
Ordinary Virtues: Moral Order in a Divided World by Michael Ignatieff
Harvard University Press
RESULT
Kolkata Knight Riders 169-7 (20 ovs)
Rajasthan Royals 144-4 (20 ovs)
Kolkata win by 25 runs
Next match
Sunrisers Hyderabad v Kolkata Knight Riders, Friday, 5.30pm
Kill
Director: Nikhil Nagesh Bhat
Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal
Rating: 4.5/5
The specs
Engine: 5.0-litre supercharged V8
Transmission: Eight-speed auto
Power: 575bhp
Torque: 700Nm
Price: Dh554,000
On sale: now
The nine articles of the 50-Year Charter
1. Dubai silk road
2. A geo-economic map for Dubai
3. First virtual commercial city
4. A central education file for every citizen
5. A doctor to every citizen
6. Free economic and creative zones in universities
7. Self-sufficiency in Dubai homes
8. Co-operative companies in various sectors
9: Annual growth in philanthropy
Company profile
Name: The Concept
Founders: Yadhushan Mahendran, Maria Sobh and Muhammad Rijal
Based: Abu Dhabi
Founded: 2017
Number of employees: 7
Sector: Aviation and space industry
Funding: $250,000
Future plans: Looking to raise $1 million investment to boost expansion and develop new products