Connect with us

Stock Markets

United Arab Emirates stocks higher at close of trade; DFM General up 0.82% By



© Reuters. United Arab Emirates stocks higher at close of trade; DFM General up 0.82% – United Arab Emirates stocks were higher after the close on Monday, as gains in the , and sectors led shares higher.

At the close in Dubai, the added 0.82% to hit a new 3-months high, while the index added 1.14%.

The best performers of the session on the were Damac Properties Dubai Co PSC (DU:), which rose 3.75% or 0.160 points to trade at 4.430 at the close. Meanwhile, Islamic Arab Insurance Company (DU:) added 3.36% or 0.015 points to end at 0.462 and Marka Pjse (DU:) was up 1.96% or 0.01 points to 0.73 in late trade.

The worst performers of the session were National General Insurance Co PSC (DU:), which fell 9.57% or 0.22 points to trade at 2.08 at the close. SHUAA Capital PSC (DU:) declined 3.17% or 0.040 points to end at 1.220 and AJMAN BANK PJSC (DU:) was down 1.71% or 0.020 points to 1.150.

The top performers on the ADX General were Sharjah Islami (AD:) which rose 2.94% to 1.400, First Abu Dhabi Bank PJSC (AD:) which was up 2.84% to settle at 10.85 and Ad Natl Ins Co (AD:) which gained 1.67% to close at 3.050.

The worst performers were Nat Bk Qaiwain (AD:) which was down 6.45% to 2.90 in late trade, Gulf Pharm Ind (AD:) which lost 3.77% to settle at 2.300 and Finance House (AD:) which was down 3.61% to 1.600 at the close.

Rising stocks outnumbered declining ones on the Dubai Stock Exchange by 25 to 10 and 1 ended unchanged; on the Abu Dhabi, 14 fell and 8 advanced, while 8 ended unchanged.

Tradebuddy.onlines in Damac Properties Dubai Co PSC (DU:) rose to all time highs; up 3.75% or 0.160 to 4.430.

Crude oil for August delivery was down 0.26% or 0.12 to $46.42 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 0.12% or 0.06 to hit $48.85 a barrel, while the August Gold Futures contract rose 0.31% or 3.77 to trade at $1231.27 a troy ounce.

USD/AED was up 0.01% to 3.6732, while EUR/AED fell 0.03% to 4.2118.

The US Dollar Index Futures was up 0.05% at 94.95.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Stock Markets

Guess shares tank on lower-than-expected quarterly sales



Tradebuddy.onlines of Guess Inc. GES, +0.96% fell 12% late Tuesday after the retailer reported third-quarter sales that missed Wall Street expectations. Guess said it lost $2.9 million, or 4 cents a share, versus earnings of $9.1 million, or 11 cents a share, in the year-ago period. Adjusted for one-time items, Guess earned $10.4 million, or 12 cents a share, compared with $9.6 million, or 11 cents a share a year ago. Sales rose 3.3% to $554 million, compared with $536 million a year ago. Analysts surveyed by FactSet had expected adjusted earnings of 12 cents a share on sales of $564 million. Retail revenue in the Americas fell 11%, offset by increases in Europe and Asia, the company said.

Source link

Continue Reading

Stock Markets

This Little-Known Chinese Stock Is on Fire — The Motley Fool



Chinese stocks have done reasonably well in 2017, with the Shanghai Composite Index up about 10%. Yet that’s lower than the 15% return of the S&P 500, and when compared with emerging markets overall and the MSCI EM Index’s 25%-plus return, China’s stock market has underperformed.

However, it’s been a strong year for stocks of Chinese companies listed in the United States through American depository shares (ADS). High-profile Chinese companies such as Alibaba (NYSE:BABA) and (NASDAQ:JD) have provided investors year-to-date returns of 106% and 52% as of this writing. Even better, shares of social-media live-streaming platform provider YY (NASDAQ:YY) have blown both out of the water. Below, you’ll find what you need to know about this company.

JD data by YCharts

YY has a long runway for growth

Like Alibaba and, YY benefits from demographic tailwinds. About 731 million Chinese citizens — more than half of the total population — had Internet access as of year-end 2016. That figure has rapidly increased, growing by approximately 19% per year since 2005. Not only are more Chinese citizens gaining Internet access, but the ranks of the middle class with disposable income are swelling. The Brookings Institute estimates middle-class consumption in the Middle Kingdom will grow 8.5% per year until 2030.

As the leading live-streaming mobile and PC provider, YY benefits from both increased Internet penetration rates and disposable income from a rising middle class. The company currently has 73 million mobile live streaming monthly active users, a 37% year-over-year increase. Look for user growth to continue from its host of online-dating, music, gaming, and sports sites.

YY had a strong quarter

YY’s run appears to be mostly supported by the financials. In the recently reported third quarter, the company increased net revenue 48% from last year’s quarter and net income per ADS by 52%, and the pace of that growth has been quite a bit higher than those who follow the stock closely had anticipated. The company expects strong top-line growth to continue, issuing projections for sales to grow in the fourth quarter by between 36% and 41%. 

Picture of Shanghai at night.

Image source: Getty Images

YY is relatively cheap

Unlike its Chinese peers Alibaba and, YY is cheaply valued, with shares currently trading at a forward earnings multiple of about 15 times what investors expect YY to earn in 2018. That’s attractive in comparison to the S&P 500’s corresponding forward multiple of about 20. Meanwhile, Alibaba and trade at much more expensive valuations of 36 and 42 times forward earnings estimates, respectively.

It’s not often you find a company growing its top and bottom lines approximately 50% while trading at multiples lower than the overall market. If you’re an investor in Alibaba and and are looking for more ways to profit from the demographic shift in China, put YY on your due-diligence list before Wall Street catches wind of the name.



Continue Reading

Recent Posts