amwalalghad :: EGX

Your English Portal To Arab Economy

Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        


Money Markets - EGX

Amwal Al Ghad English - 2015-05-25 14:44:29
Egypt's stock market fell Monday to incur losses worth 2.5 billion Egyptian pounds (US$327.7 million) driven by foreign investors’ profit-taking move following a broad rally started last week amid putting on hold unpopular capital gains tax. The market capitalization has hit 506.089 billion pounds during the closing session of Monday. Indices Egypt’s benchmark index, EGX30 dropped by 0.78 percent to 9050.76 points. Yet, the benchmark was well above technical support at 8860 points, its early May peak, which it surpassed this week. EGX20 also fell by 0.53 percent to 9585.54 points. In addition, the mid- and small-cap index EGX70 inched down by 0.77 percent to 484.27 points. The price index, EGX100 plummeted by 0.66 percent to 1008.96 points. Turnovers near One billion pounds On Monday, the bourse’s trading volume has hit 196.174 million securities, with turnovers closed at EGP 922.365 million, exchanged through 25.944 thousand transactions. Also during the closing session, 173 listed securities have been traded in; 90 declined, 50 advanced; while 29 kept their previous levels. More»
Amwal Al Ghad English - 2015-05-24 16:00:12
Egypt's stocks posted Sunday gains worth 4.1 billion Egyptian pounds (US$537 million), extending a broad gain started last week when the government put on hold unpopular capital gains tax. The market capitalization has recorded 508.595 billion pounds during the closing session of Sunday. Indices Egypt’s benchmark index, EGX30 climbed by 1.49 percent to 9121.92 points. The benchmark closed above technical resistance at 8860 points, its early May peak, triggering a minor double bottom formed by the April and May lows and pointing up to around 9400 points EGX20 also soared by 2.04 percent to 9637 points. In addition, the mid- and small-cap index EGX70 grew by 1.55 percent to 488.03 points. The price index, EGX100 inched up by 1.21 percent to 1015.7 points. Turnovers low On Sunday, the bourse’s trading volume has hit 235.169 million securities, with turnovers closed at EGP 718.349 million, exchanged through 30.602 thousand transactions. Also during the closing session, 181 listed securities have been traded in; 25 declined, 118 advanced; while 34 kept their previous levels. More»
Enas Shaaban - 2015-05-24 10:59:50
Egypt has started feasibility studies, in cooperation with the European Investment Bank (EIB), to list state-run Food Industries Holding Company on Cairo bourse, supply minister Khaled Hanafy told Amwal Al Ghad. Speaking to Amwal Al Ghad on Sunday, the Egyptian minister said two committees have been formed to study the technical and investment feasibilities on listing the Egyptian state-owned company. The Egyptian Ministry of Supply is seeking to raise around four billion Egyptian pounds (US$ 524 million) from the FIHC’s initial public offering (IPO), Hanafy noted. In February, Egypt announced plans to list the state-owned Food Industries Holding Company (FIHC) in a rare IPO of shares in a government holding company. The capital raised by listing FIHC shares would be invested in underperforming companies operated by the ministry, Hanafy said. "Food Industries Holding has about 43 subsidiaries. Some of these companies need liquidity in order to increase production lines and develop. That is what we will do with the money raised," the Egyptian minister said earlier in February. More»
Amwal Al Ghad English - 2015-05-23 09:42:05
The announcement this week by Emaar Misr, a wholly-owned subsidiary of UAE leading developer Emaar, that it planned to float a 13 per cent stake on the Egyptian stock exchange (EGX) is being seen as a sign of recovering interest in the local bourse. Egyptian equities have been crippled by the political turmoil and economic uncertainty that followed the 2011 revolution, but since last year there have been several initial public offerings that investors hope will signal the beginnings of a turnround. The market was the best performing in the world in 2014, but daily volumes were still well below their pre-2011 levels. The bourse received another fillip this week when the government promised to delay the imposition of a new 10 per cent capital gains tax for two years. Emaar said on Wednesday it was making a public offering to retail investors in Egypt, and a private placement to institutional investors in a number of countries including Egypt. Emaar said it planned to use the net proceeds raised from the offering, together with its existing cash resources, principally to further the development of non-residential areas of its projects under development in Egypt. These include retail and office space and an international yacht marina and hotels in Marassi, a Mediterranean resort. The company, which has been building upmarket housing and holiday compounds for the wealthy, has a 15.4m square metre land bank distributed in east, west and central Cairo and on the Mediterranean coast. Emaar’s Egyptian float marks the maturing of the real estate group’s overseas portfolio, where the company has failed to grow as fast as it has done at home in Dubai. The company has diversified from home delivery into retail and hospitality, floating its Emaar Malls unit in Dubai last year. Like other Dubai-based companies, Emaar is eyeing expansion in Egypt after years of turmoil constrained economic growth. UAE companies say they are investing to generate profit, but inward investment into the country under the leadership of close UAE ally Abdel Fatah al-Sisi is also a foreign policy priority. Mohammed Alabbar, the Emaar chairman, is also involved with Abu Dhabi-financed developers seeking to build a new capital city to the east of Cairo. Ahmed Salem, head of brokerage at Beltone, a Cairo-based regional investment bank said Egypt needed more issuances. “What is important is for the market to become more diversified and for market cap to grow,” he said. Noting that several large listed companies left the Egyptian market before and right after the revolution, Angus Blair, head of the Signet Institute, an economic think-tank, said the IPO reflected “increased confidence” but was still small. “Foreign investors in particular like large . . . stocks and we don’t have many of them at the moment,” he said. “It would be wonderful for instance if Vodafone Egypt came to the market again.” More»
Amwal Al Ghad English - 2015-05-21 16:10:26
Egypt's stocks resumed on Thursday their broad rally amid the delay of a controversial a capital gains tax. The stocks posted gains on Thursday totalling 4 billion Egyptian pounds (US$524 million). The market capitalization has closed at 504.532 billion pounds during the closing session of Thursday. Indices Egypt’s benchmark index, EGX30 surged by 1.83 percent to 8988.03 points, once again rising above technical resistance at 8,860 points, its early May peak. A clear break of that level would establish a double bottom pattern, paving way for further gains. EGX20 jumped by 2.76 percent to 9443.94 points. In addition, the mid- and small-cap index EGX70 hiked by 1.85 percent to 480.58 points. The price index, EGX100 grew by 1.59 percent to 1003.6 points. Turnovers higher On Thursday, the bourse’s trading volume has hit 257.336 million securities, with turnovers closed at EGP 752.431 million, exchanged through 29.450 thousand transactions. Also during the closing session, 171 listed securities have been traded in; 28 declined, 121 advanced; while 22 kept their previous levels. More»
Amwal Al Ghad English - 2015-05-21 12:22:36
UAE’s Abraaj Capital, the Middle East's largest private equity firm, has decided to give up initial public offering (IPO) plans for its Egyptian affiliate, Integrated Diagnostics Holdings (IDH) on Cairo bourse, sources near from the talks announced. IDH was established in 2012 as a result of the merger of Al Mokhtabar and Al Borg Laboratories, and has concluded earlier this month its $290 million IPO on the London Stock Exchange (LSX), becoming the first Egyptian healthcare company to complete a UK offering.Abraaj’s withdrawal from the IPO came after Egypt’s market regulator, the Egyptian Financial Supervisory Authority (EFSA) refused to give its approval for a listing on the Egyptian Exchange (EGX), the sources told Mubasher. They added that the EFSA’s refusal was due to the dual ownership of Al Borg and Al Mokhtabar laboratories, which are owned by the Dubai-based firm, which in turn is owned by another holding company in London. Dubai-based Abraaj previously acquired Egypt’s Al Borg and Al Mokhtabar on separate occasions over the past few years prior to their merger under one company, namely IDH. Since then IDH has become the largest diagnostics firm in Egypt, the Middle East and south Asia, with 283 labs across Egypt, Saudi Arabia, Sudan and Jordan. Abraaj acquired Al Borg Laboratories in 2008 in a deal worth 773.3 million Egyptian pounds and later acquired Al Mokhtabar in 2012 in a deal worth 1.27 billion pounds. The sources told Mubasher that Abraaj had founded a holding company in Dubai and announced a dual-listing of the company’s stocks on the EGX and the London Stock Exchange (LSE). Abraaj then established another holding company in London and requested that it be listed on the EGX, prompting the EFSA to refuse the listing of more than one company on the exchange, the sources added. The Dubai-based investment firm previously submitted a request to the EGX to list IDH. The exchange accepted the request and the UAE firm paid fees exceeding EGP 1 million. However, the EGX requested an approval from the EFSA, a legal stipulation related to listing regulations for holding and foreign companies. Mubasher was unable to reach Abraaj Capital for a comment. Earlier in May, Abraaj has successively launched the IPO for 43.5% of Egypt’s IDH on the LSE, in a deal worth $290 million. The EGX management wanted to complete the IPO and listing as part of its strategy to attract larger entities to make up for the companies that delisted following the 2011 uprising. Abraaj Capital currently manages assets worth $9 billion through more than 20 funds in over 30 countries and emerging markets. More»
Yomna Yasser - 2015-05-20 16:21:38
Egypt's stock market halted two-day gains, to incur losses on Wednesday worth 2.36 billion Egyptian pounds (US$309 million) on foreign selloffs. Egypt bourse rallied for two successive days as investors show signs of relief with the Egyptian government's decision on Monday to suspend the capital gains tax, which was set at 10 percent. Indices Egypt’s benchmark index, EGX30 dropped by 0.58 percent to 8826.45 points. EGX20 inched down by 0.81 percent to 9190.04 points. In addition, the mid- and small-cap index EGX70 sagged by 0.38 percent to 471.85 points. The price index, EGX100 plummeted by 0.26 percent to 987.93 points. The market capitalization has closed at 500.385 billion pounds during the closing session of Wednesday. Turnovers humble again On Wednesday, the bourse’s trading volume has hit 215.484 million securities, with turnovers closed at EGP 644.909 million, exchanged through 23.856 thousand transactions. Also during the closing session, 173 listed securities have been traded in; 94 declined, 48 advanced; while 28 kept their previous levels. More»
Amwal Al Ghad English - 2015-05-20 11:31:07
Egyptian bourse’s chairman Mohamed Omran is heading to Armenia today to chair the Federation of Euro-Asian Stock Exchanges (FEAS)’s Working Committee and Executive Board Meetings. The event will take place on May 21, in Yarevan, Armenia. In November, Omran has won the presidency of the Federation of Euro-Asian Stock Exchanges (FEAS). It is the first time that an Arab country is elected for such a post. FEAS is a regional bloc with growth potential in the capital market, with 34 member stock exchanges worldwide and total market capitalization worth US$800 billion, with a turnover of $500 billion annually. More»
Amwal Al Ghad English - 2015-05-20 11:27:29
The annual meeting of Euro-Mediterranean (EUROMED) partnership for capital markets’ authorities kicks off today in Egypt. The meeting, which Cairo hosts for two days, has been inaugurated by the chairman of Egypt's market regulator, the Egyptian Financial Supervisory Authority’s (EFSA), Sherif Samy. EUROMED Partnership encompasses the capital markets' authorities of Egypt, Algeria, Tunisia, and Morocco, in addition to Spain, Portugal, Greece, Italy, France, and Turkey. Samy clarified that the meetings would discuss the most important developments in the financial markets in the Member States during the last year and the latest results reached by different international organizations to activate supervision on financial markets and the implementation of the recommendations made by the Group of Twenty in this regard. The meeting would also present the regulatory differences between Member States at the three levels namely: supervision on mutual funds, providing information related to the financial markets and fighting manipulation in the markets. Moreover, the first day would include workshop that reviews the points of protecting capital market’s clients, studying legislations and regulations needed for enterprises’ governance, and disclosure and inspecting investments funds’ regulations and laws, especially mortgage funds, Samy said. More»
Yomna Yasser - 2015-05-19 14:10:02
Egypt's stocks posted gains on Tuesday worth 1.15 billion Egyptian pounds (US$150.7 million) backed by local and Arab investors’ buying appetite, one day after Egypt announced a two-year lift on the capital gains tax. The gains come for the second day in a row as investors show signs of relief with the Egyptian government's decision on Monday to suspend the capital gains tax, which was set at 10 percent. The purpose of the suspension is to preserve the competitiveness of Egypt's financial market and investments pumped into it, cabinet spokesman Hossam al-Qawish had said in a statement. Taxes on dividends will continue to be applied, with the tax being collected only once and no tax will be collected on the net revenue. Indices Egypt’s benchmark index, EGX30 inched higher by 0.90 percent to a two-year high of 8877.68 points. EGX20 climbed by 1.77 percent to 9265.25 points. In addition, the mid- and small-cap index EGX70 grew by 0.97 percent to 473.63 points. The price index, EGX100 moved higher by 1.09 percent to 990.46 points. The market capitalization has recorded 502.746 billion pounds during the closing session of Tuesday. More»