Aramco on the Stock Exchange, Dow Jones and Dax at record highs

Опубликовано: 04-ноя-2019
Категории:Trading
Последние обновления:04-ноя-2019

Aramco on the Stock Exchange, Dow Jones and Dax at record highs

Stock markets at record high

In the US, the stock markets are experiencing strong growth thanks to solid labor market data and good Chinese industrial production. The  S & P 500 and the Nasdaq composite index each gained one percent, reaching record highs of 3066 and 8386 points. The Dow Jones rose 1.11 percent and the German stock index Dax rose significantly on Monday and exceeded the 13000 points mark with up to 13122 points. The positive economic data from China also resulted in increased demand for crude oil. The value of North Sea Brent rose 1.6 percent to $ 60.55 a barrel.
 

Saudi Aramco has permission for IPO

The Saudi Arabian oil company Saudi Aramco has received approval for its IPO. The stock market listing was planned in 2017 and postponed again and again. On Sunday, the Financial Market Authority CMA then announced that the Group's proposal had been approved. So far, there is no exact timetable and the exact issue volume with which Aramco is going to the Saudi Arabian stock exchange Tadawul has not yet been determined. According to the news channel Al-Arabija, the first day of trading will be December 11th. The corporation, which is wholly owned by Saudi Arabia, is expected to float five percent of its shares. Experts expect $ 100 billion, while Crown Prince Mohammed bin Salman hopes for a valuation of more than $ 2 trillion. With the sale of just two percent of the high-rated shares, Aramco would take $ 40 billion, making it the largest IPO in the world.

The planned listing on the stock market is part of the economic conversion program "Vision 2030" of the Crown Prince, who wants to make his country independent of oil. The oil company brings 60 percent of the revenue of the Saudi government. Last year Aramco made a pure profit of $ 111.1 billion.


Автор:

Author  

Trading Deals




Поделиться этим постом:




Другие посты

Featured by