Egypt bourse has pared its morning losses which eventually reached EGP 507 million during the closing session of Tuesday. The EGX indices ended sessions on red notes, except for the EGX20. Egypt’s benchmark index EGX30 edged down by 0.31% to close at 5400.76 p; while the EGX20, it rose by 0.24% to end at 6172.15 p. Meanwhile, the mid- and small-cap index, the EGX70 fell by 0.01% to conclude at 451.63 p.  Price index EGX100 dipped by 0.19% to finish 759.84 p. The capital market has closed at EGP 363.930 billion on Tuesday. During closing, the trading volume hit 89.648 million securities, higher than Monday’s session of 60.048 million securities, representing an increase of 29.600 thousand securities. For the traded value, it reached EGP 317.020 million, exchanged through 14.070 thousand transactions. During the closing session of Tuesday, 162 listed securities have been traded in; 50 declined, 74 advanced; while 38 keeping their previous levels. Arabs and the non-Arab foreigners’ selling pressures have driven EGX’s losses as they were net sellers seizing 5.26% and 7.99% respectively, of the total markets, with a net equity of EGP 2.852 million and EGP 24.447 million excluding the deals. Meanwhile, Egyptians were net buyers seizing 86.75% of the total markets, with a net equity of EGP 27.299 million, excluding the deals. More»

The Egyptian Exchange (EGX) has opened Tuesday’s session incurring early losses of EGP 952 million driven by the local and Arab selling pressures. Egypt bourse’s indices were wavering in red notes Tuesday morning. Benchmark EGX30 further pushed down by 0.42% to 5394.94 p; while EGX20 fell by 0.11% to 6150.81 p. Meanwhile, the mid- and small-cap index, the EGX70 also dropped by 0.06% to 451.4 p.  Price index EGX100 plummeted by 0.35% to 758.67 p. The capital market has amounted to EGP 363.485 billion, according to data compiled by Amwal Al Ghad English at 11:10 a.m. Cairo time (09:10 GMT) during the opening session of Tuesday. The trading volume has reached 5.344 million securities worth EGP 31.293 million, exchanged through 1.184 transactions during Tuesday’s opening. Also during the opening session,  65 listed securities have been traded in; 18 declined, 16 advanced; while 31 steadied. Egyptians and Arabs’ selling pressures have driven Egyptian bourse’s opening losses as they were net sellers seizing 78.49% and 6.49% respectively, of the total markets, with a net equity of EGP 1.073 million and EGP 3.566 million, excluding the deals. Meanwhile, the non-Arab foreigners were net buyers seizing 15.02% of the total markets, with a net equity of EGP 4.640 million excluding the deals. More»

The Canadian Chamber of Commerce in Egypt will be meeting with the Cairo bourse chief on Monday, May 20th to get in depth with the country’s economy and how to get through the current crisis. The Canadian Chamber of Commerce in Egypt, chaired by Dr. Fayez Ezz El Din, announced today that it will be holding a lengthy meeting next Monday with Dr. Mohamed Omran – Chairman of the Egyptian Exchange (EGX) to tackle the plans to boost the country’s economy. Yasser El Mallwany – Chief Executive of EFG-Hermes; Maged Shawky - the Managing Director at Beltone Financial (BTFH.CA); and Dr. Mohamed Taymour, - Chairman of Pharos Holding, are invited to attend the meeting. The chamber’s meeting targets increasing the volume of the Canadian investments in Egypt as well as discussing the mechanisms for dealing with the current troubled waters. More»

Egypt bourse has incurred losses of EGP 1.5 billion during the closing session of Monday as the foreigners’ profit-taking transactions continued. The EGX indices ended sessions on red notes. Egypt’s benchmark index EGX30 edged down by 0.54% to close at 5417.47 p; while the EGX20, it tumbled by 0.98% to end at 6157.51 p. Meanwhile, the mid- and small-cap index, the EGX70 plummeted  by 0.85% to conclude at 451.66 p.  Price index EGX100 fell by 0.66% to finish 761.3 p. The capital market has reached to EGP 364.437 billion during the closing session of Monday. During Monday’s closing, the trading volume hit 60.048 million securities, less than Sunday’s session of 62.345 million securities, representing a decline of 2.297 thousand securities. For the traded value, it reached EGP 256.543 million, exchanged through 13.593 thousand transactions. During the closing session of Monday, 166 listed securities have been traded in; 105 declined, 29 advanced; while 32 keeping their previous levels. Arabs and the non-Arab foreigners’ selling pressures have driven EGX’s losses as they were net sellers seizing 5.45% and 12.71% respectively, of the total markets, with a net equity of EGP 22.905 million and EGP 3.298 million excluding the deals. Meanwhile, Egyptians were net buyers seizing 81.84% of the total markets, with a net equity of EGP 26.204 million, excluding the deals. More»

The Egyptian Exchange (EGX) has opened Monday’s session incurring early losses of EGP 238 million driven by the foreigners’ profit-taking transactions. Egypt bourse’s indices were wavering in red notes Monday morning. Benchmark EGX30’s up-swing trends towards were halted on early Monday as the benchmark index sagged by 0.12% to 5440.28 p; while EGX20 fell by 0.43% to 6191.34 p. Meanwhile, the mid- and small-cap index, the EGX70 also dropped by 0.29% to 454.21 p.  Price index EGX100 plummeted by 0.16% to 765.16 p. The capital market has amounted to EGP 365.742 billion, according to data compiled by Amwal Al Ghad English at 11:23 a.m. Cairo time (09:23 GMT) during the opening session of Monday. The trading volume has reached 6.914 million securities worth EGP 28.602 million, exchanged through 1.780 transactions during Sunday’s opening. More»

On Sunday, Alaa Saba - Beltone Financial CEO; and Mohsen Adel - Managing Director at Pioneers Funds have been the most recent applicants for the Egyptian Exchange (EGX) board membership. Sources from the Egyptian bourse said Saba and Adel are applying for the investment funds seats in the EGX board members. Applications will be received for four days starting from today to select five nominees for the upcoming four-year term, the state news MENA reported. More»

Egypt-based Prime Holding for Financial Investment S.A.E. (PRMH.CA) – said the firm is currently in talks with a number of local banks seeking to run 3 fresh fixed-income investment funds with capitals expected to reach EGP 100 million. Mohamed Maher, Managing director of Prime Group, announced that his firm is currently negotiating with a number of Egyptian banks in order to run 3 new investment funds, as the firm is aiming to increase its assets. Maher stated that Prime Group is running around 11 investment funds; Housing & Development Bank Fund – Mawared (accumulative with daily return), Arab Land Direct Investment Fund, Arab Misr Insurance Group (AMIC) Fund (accumulative with periodical return),  Societe Arabe International De Banque – (No.1 accumulative),  Societe Arabe International De Banque – (No.2 accumulative with periodical return), Al Tameer Fund,  Blom Bank- Egypt Money Market Fund (accumulative), Societe Arabe International De Banque – (No.3), and Egyptian Gulf Bank Fund – Tharaa (periodical return). More»

Egypt bourse has gained EGP 1.7 billion during the closing session of Sunday backed by the government’s announcements to to end more pending disputes with investors and businessmen, seeking to restore the investment flow. The EGX indices ended sessions with green notes, except for the mid- and small-cap index EGX 70. Egypt’s benchmark index EGX30 edged up by 0.78% to close at 5446.68 p; while the EGX20, it rose by 0.24% to end at 6218.38 p. Meanwhile, the mid- and small-cap index, the EGX70 inched down by 0.11% to conclude at 455.51 p.  Price index EGX100 advanced by 0.35% to finish 766.37 p. The capital market has reached to EGP 365.980 billion during the closing session of Sunday. During Sunday’s closing, the trading volume hit 62.345 million securities, higher than Thursday’s session of 53.338 million securities, representing an increase of 9.007 thousand securities. For the traded value, it reached EGP 228.090 million, exchanged through 14.138 thousand transactions. More»

The Egyptian Exchange (EGX) has started this week with opening gains of EGP 411 million backed by the early non-Arab foreign buyers. Egypt bourse’s indices were wavering in mixed notes Sunday morning. Benchmark EGX30’s up-swing trends towards the 5400 pts level continued during the opening session to inched up by 0.14% to 5411.77 p; while EGX20 fell by 0.16% to 6194.07 p. Meanwhile, the mid- and small-cap index, the EGX70 also dropped by 0.04% to 455.85 p.  Price index EGX100 advanced by 0.11% to 764.56 p. The capital market has amounted to EGP 364.622 billion, according to data compiled by Amwal Al Ghad English at 11:02 a.m. Cairo time (09:02 GMT) during the opening session of Sunday. The trading volume has reached 7.509 million securities worth EGP 13.098 million, exchanged through 761 transactions during Sunday’s opening. Also during the opening session,  60 listed securities have been traded in; 25 declined, 13 advanced; while 22 steadied. The non-Arab foreigners buying transactions have backed EGX’s opening gains as they were net buyers seizing 9.58% of the total markets, with a net equity of EGP 1.028 million excluding the deals. Meanwhile, Egyptians and Arabs’ were net sellers seizing 84.22% and 6.2% respectively, of the total markets, with a net equity of EGP 682.151 thousand and EGP 346.295 thousand, excluding the deals. More»

In a week, the Egyptian Exchange has managed to post remarkable  gains of EGP 5.6 billion as the capital market has hit EGP 364.211 billion at the end of last week, compared to EGP 358.612 billion at the end of a week earlier. The EGX gains were powered by ending the 11-month disputes between OCI S.A.E. and the Egyptian Tax Authority, the cabinet reshuffle which replaced economic ministers, the announcement of re-launching the same-day trading settlement, and also the president’s remarks on plans of joining his country the BRICS group. Egypt’s stock exchange benchmark EGX 30 index has climbed by 2.4% in a week, representing an increase of 127.67 points, ending Thursday’s transactions at 5404.29 points compared to 5276.62 points at the end of last week. EGX30 hit its highest point at the closing session of Thursday at 5404.29 points, where its lowest point reported on Tuesday at 5372.63 points. Meanwhile, the mid- and small-cap index, the EGX70 surged by 1.1% closing at 456 points during Thursday’s session, compared to 451 points at the end of a week earlier. The price index, EGX100 pushed up by 1.32% concluding by 763 points during Thursday’s session, compared to 753 points at the end of a week earlier. More»