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        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        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        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        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        Cairo Poultry   8.32        ARAB POLVARA SPINNING & WEAVIN   2.11        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

Islam Salah - 2014-10-22 14:38:54
Egyptian stock exchange (EGX) will reduce the number of documents the bourse requires from large corporations or small and medium enterprises by half, the exchange chairman Mohamed Omran announced on Wednesday. The decision will attract more companies from different sectors to list in the Egyptian stock exchange which will provide different alternatives to potential investors and will reflect positively on the capital market. Documents required to list in the stock exchange will be reduced to 12 documents instead of 24. More»
Yomna Yasser - 2014-10-22 14:10:28
Egypt’s stocks closed Wednesday remarkably higher with gains totalling 6 billion Egyptian pounds backed by strong buyout of foreign investors. The country’s main stock index, EGX30 jumped at end of trade, crossing 8810 points. Indices Egypt’s benchmark index EGX30 ended 2.07 per cent higher to 8811.88 pts; and EGX20 finished 1.95 per cent up to 10109.26 pts. In addition, the mid- and small-cap index, the EGX70 surged by 1.63 per cent to finish at 595.31 pts. The price index EGX100 hiked by 1.14 per cent to conclude at 1077.88 pts.   Furthermore, the market capitalization recorded EGP 495.921 billion on Wednesday. More»
Amwal Al Ghad English - 2014-10-22 09:22:08
Egypt's Beltone Financial aims to invest around 300 million Egyptian pounds (26.12 million pounds) to expand its domestic operations next year because it believes the worst of the country's economic instability has passed, its chairman told Reuters. "The entire world is open to us. I see that the transition period in Egypt has ended. The investment opportunities that exist domestically are the best that can be found in the region," Aladdin Saba said. "We will propose our expansion plan for 2015 to the board of directors. I envision us investing in the non-bank financial sector by setting up new firms, or by buying existing businesses if they would enable us to achieve our goal and save us time.” The optimism of Saba, who founded Beltone in 2002, is echoed by many Egyptian financiers, who think the government is getting a grip on Egypt's economic problems after a three-year slump following the revolution of 2011. With over 200 staff, Beltone has brokerage, asset management, investment banking and private equity operations. Foreign operations include offices in Dubai and London. Earnings have slumped since last year, when they were inflated by one-off gains such as a property sale. Consolidated net income tumbled 84 percent from a year earlier to 11.0 million Egyptian pounds in the first half of 2014; revenues sank 26 percent to 31.6 million pounds because of lower fee income. But the company has been one of the most aggressive Egyptian financial firms in seeking to get ahead of the expected rise in asset values in the event of an economic recovery over the next several years. It originally announced that it would distribute a dividend of 7 pounds per share for the 2013 financial year, but then suspended that decision as it sought with billionaire Naguib Sawiris to buy a 20 percent stake in Egyptian investment bank EFG Hermes for about $257 million. The purchase did not go through as the bid consortium attracted offers of just under half of the EFG Hermes shares which it sought. However, that setback does not appear to have dimmed Beltone's ambitions. The company's board decided this month not to distribute cash dividends and to use the company’s liquidity instead to fund its future expansion plans. "The decision to distribute dividends for 2013 was made under certain circumstances that have changed entirely, and our policy too has changed,” Saba said in an interview at the Reuters Middle East Investment Summit. "The first sign of change was the company heading towards acquiring a stake in Hermes. Therefore we decided, whereas our policy was to be conservative and distribute cash dividends, to look into expansion and investment opportunities.” He added, "We have liquidity of 120 million pounds and this covers a portion of the expansion that we are working on. There may be a new stage of external funding for the remainder of our investments, either through a capital increase or through obtaining bank loans.” IPOS Authorities are working to revive listing activity on Egypt's stock market, which should benefit firms such as Beltone. Arabian Cement Co listed in Cairo in May after raising $110 million in its initial public offer, the first major one on the bourse for about three years; Egyptian Exchange chairman Mohamed Omran told Reuters this month that the exchange expected to approve 10 listings this year. “We are working on four new primary offerings, but all of them will occur in 2015," Saba said without naming the companies. "We have an offering with a value above 1 billion pounds, and another with a value of around 750 million pounds. We can say that the aggregate value of the four offers will exceed 2 billion pounds.” In April, the exchange granted Beltone the country's first licence for exchange traded funds (ETFs), a step towards deepening trade in the stock market. Omran said he had expected ETF certificates to be offered earlier this year, and now believed they would be introduced by the end of 2014. Asked when Beltone might proceed with ETFs, Saba said: “At the earliest. Beltone is not waiting for anything. There are still a few minor changes being made to the offering circular.” More»
Yomna Yasser - 2014-10-21 14:25:09
Egypt’s stocks surged on Tuesday with gains worth 4 billion Egyptian pounds backed by foreign investors’ strong buying appetite. The country’s main stock index, EGX30 climbed to near 8635 points during the closing session. Indices Egypt’s benchmark index EGX30 ended 1.15 per cent higher to 8633.15 pts; and EGX20 finished 1.60 per cent up to 9915.63 pts. In addition, the mid- and small-cap index, the EGX70 pushed up by 1.71 per cent to finish at 585.78 pts. The price index EGX100 grew by 1.26 per cent to conclude at 1065.77 pts.   Furthermore, the market capitalization recorded EGP 489.911 billion on Tuesday. More»
Islam Salah - 2014-10-21 14:06:45
The capital of Shariah-compliant Naeem Misr Fund recently surged to 50 million Egyptian pounds (around $7mn), said the managing director of the owner company Naeem Holding. The Cairo-based investment house Naeem Holding has launched the open-ended equity Shariah-compliant Naeem Misr Fund late 2011, at a capital of 25 million pounds The fund invests mainly in Shariah-compliant Egyptian equities. The fund will also invest to a lesser extent in Islamic money market instruments to preserve liquidity. Furthermore, Hazem Kamel - managing director of Naeem Holding – stated that his company is still working on obtaining the UAE financial regulator’s approval to launch its new mutual fund, with a capital of 250 million dirhams. Naeem Holding is also planning to launch two new mutual funds in Egypt in the coming years, at initial capitals of 25 million Egyptian pounds for each fund. This comes as part of Naeem's strategy to boost its portfolio of current assets to US$320 million by the end of the current year, through increasing its presence in Gulf markets in the coming period. More»
Amwal Al Ghad English - 2014-10-21 09:07:19
The Egyptian stock Exchange (EGX) expects to have approved the listings of 10 companies by the end of this year as confidence in the local economy grows, the exchange's chairman Mohamed Omran said. The stock market was hit hard by the political and economic instability which followed the overthrow of Hosni Mubarak in early 2011, but many investors now feel stability is returning. The main stock index and trading volumes have both rebounded above the levels seen in 2010. Arabian Cement Co listed in Cairo in May this year after raising $110 million in its initial public offer, the first major one on the bourse for about three years. Omran, in an interview for the Reuters Middle East Investment Summit, said the exchange had approved the listing of four companies so far this year and expected that number to rise to ten by the end of 2014. Growing activity in the stock market "is a very positive indicator that the Egyptian economy has started to recover," he said. "Companies are able to acquire, expand and invest to a greater extent in order to achieve profitability and growth. This will reflect on per-share earnings and in turn on prices in the market. The exchange and the economy can never be separated." He added: "We have an economy that hungers for investments. The major economic projects that Egypt is currently working on will lift the dust off its economy." REGULATORY REFORMS Stock prices have tumbled in the past two weeks as global markets have been hit by concern about economic growth; the Egyptian index is down about 13 percent from last month's six-year peak. Omran said the pull-back was not related to fundamental copnditions in Egypt. "The nature of global markets is to rise and fall. These are normal circumstances that do not worry me, especially as the correction occurred within the framework of global markets in general and not the Egyptian market only. "What worries me is any diminishing of liquidity and the market's inability to fund companies' capital increases." To make it easier for companies to raise capital, Omran said the exchange would reassess listing rules with a view towards implementing changes by the end of this year. Listing rules will not be totally rewritten, but there are five sections "that practical application has shown need to be changed", he said. One such section covers the freezing of 65 percent of key shareholders' stakes during public offers; that may be reduced to 51 percent, Omran said. While 10 percent of major shareholders' stakes are currently counted as part of free floats, that percentage may be reduced. Another article stipulates a company must have 300 shareholders at the time of listing; that may be adjusted as some companies have found it difficult to comply. Also, companies may be allowed to list without having completed certain administrative requirements such as annual general meetings, as long as they commit to completing them. In April, the exchange granted Beltone Financial the country's first licence for exchange traded funds (ETF), a step towards deepening trade in the stock market. Omran said he had expected ETF certificates to be offered earlier this year but the project was still on track. "Now I can confirm that this will be completed before the end of the year. There are some administrative procedures. Beltone has not yet finalised its offering circular." More»
Yomna Yasser - 2014-10-20 14:21:11
Egypt’s stocks closed Monday higher with gains totalling 1.1 billion Egyptian pounds backed by a return of local and non-Arab foreign investors’ buying appetite. Accordingly, the country’s main stock index, EGX30 went up above 8530 points. The Egyptian Exchange’s indices were wavering in green notes during the closing session of Monday. Indices Egypt’s benchmark index EGX30 ended 0.13 per cent higher to 8534.89 pts; and EGX20 finished 0.32 per cent up to 9759.64 pts. In addition, the mid- and small-cap index, the EGX70 climbed by 1.32 per cent to finish at 575.95 pts. The price index EGX100 surged by 1.01 per cent to conclude at 1052.49 pts.   Furthermore, the market capitalization recorded EGP 485.706 billion on Monday. More»
Yomna Yasser - 2014-10-20 11:38:27
Egypt’s stocks were mostly in green notes on during Monday’s midday trade posting gains worth 564 million Egyptian pounds backed by local and non-Arab foreign investors’ buying appetite. Yet, the country’s main stock index, EGX30 solely dropped amid Arab selling pressures. Indices The Benchmark EGX30 fell by 0.11% to 8514.57 p; while EGX20 rose by 0.10% to 9738.47 p. In addition, the mid- and small-cap index, the EGX70 inched up by 1.10% to 574.69 p. Also, the Price index EGX100 hiked by 0.71% to 1049.36 p. Furthermore, market capitalization reached EGP 485.136 billion, according to data compiled by Amwal Al Ghad English at 13:30 p.m. Cairo time (11:30 GMT). Trading Volumes & Values The trading volume has recorded 130.231 million securities worth EGP 420.233 million, exchanged through 20.385 transactions during Monday midday. Also during the midday session, 159 listed securities have been traded in; 38 fell, 87 advanced; while 31 keeping their previous levels. More»
Amwal Al Ghad English - 2014-10-20 08:14:09
The Egyptian Stock Exchange (EGX) has kicked off the week’s trading by requesting financial and operations information for listed companies. The request comes after companies experienced a series of losses last week which saw the market lose some LE37.9 billion. EGX said that companies need to disclose any activity that led to recent movements in the price of stocks. “The management aims by this action to give a clear and objective picture of the actual situation of the listed companies and their updated financial indicators after the downturn that hit the international stock exchanges over the past week,” EGX said in its official statement. EGX mentioned that “international reports have warned off the possibility of slowdown in global economic growth”. It added that this slowdown drove the stock market to a downward trend. “This downtrend affected the Arab markets as well as the Egyptian Exchange,” the statement read. The market lost LE14.4 billion last Sunday and a further LE1.6 billion on Monday. The loss continued on Tuesday, with the market shedding LE9.4 billion. The stock market losses slowed down on Wednesday as only LE149 million were shed. The slowdown did not last for long, however, as Thursday saw losses amounting to LE12.2 billion. More»
Amwal Al Ghad English - 2014-10-19 15:23:22
Beltone Financial Holding is set to complete procedures of launching the first exchange-traded funds (ETFs) in the Egyptian Exchange (EGX) with a capital of EGP 5 million, and is seeking EGP 250 million from the launch, said a company official. Osama Rashad, Investor Relations Manager at Beltone, told state-owned news agency MENA required documents are being prepared to issue the subscription prospectus after the approval of the Egyptian Financial Supervisory Authority (EFSA). The issue was delayed from last June because some requirements were not fulfilled. Egypt's stock exchange had granted Beltone the country's first licence for exchange traded funds (ETF). Beltone Financial was the first company to express interest in ETFs, which are listed investment funds. More»