amwalalghad :: EGX

Your English Portal To Arab Economy

GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Orascom Telecom Holding (OT)   3.92        Rakta Paper Manufacturing   4.39        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Heliopolis Housing   21.65        United Housing & Development   8.93        Raya Holding For Technology An   4.57        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        National Development Bank   6.72        Six of October Development & I   15.03        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        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        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        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

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»
Yomna Yasser - 2014-10-19 14:10:44
Egypt’s stocks ended Sunday’s trading with losses worth 2.1 billion Egyptian pounds amid local investors’ selling pressures. In return, the country’s main stock index, EGX30 closed trading bearish, below 8525 points. The Egyptian Exchange’s indices were wavering in red notes during the closing session of Sunday. Indices Egypt’s benchmark index EGX30 ended 0.81 per cent lower to 8523.87 pts; and EGX20 finished 1.03 per cent down to 9728.88 pts. In addition, the mid- and small-cap index, the EGX70 inched down by 0.65 per cent to finish at 568.46 pts. The price index EGX100 dropped by 0.81 per cent to conclude at 1041.92 pts.   Furthermore, the market capitalization recorded EGP 484.572 billion on Sunday. Turnovers above EGP One billion Through the closing session of Sunday, the trading volume has reached 148.673 million securities, with turnovers worth EGP 1.197 billion, exchanged through 24.173 transactions.                Also during the closing session, 182 listed securities have been traded in; 106 declined, 46 advanced; while 25 kept their previous levels. More»
Amwal Al Ghad English - 2014-10-19 13:52:05
The talks to enlist two new companies affiliated to the Egyptian Ministry of Religious Endowments (Awqaf) in the country’s stock market are in ‘advanced stage’, said stock Exchange head Mohamed Omran. The talks are over the floating the shares of Awqaf-affiliated El-Hawamdia Contracting and Damanhur Carpet Company on EGX, he revealed. Omran stated on Sunday that the Egyptian Exchange (EGX) approved several weeks ago the listing of two Awqaf-affiliated companies, but delayed the move after realising that some of these companies’ shareholders are involved in legal cases not settled yet. There are no other final agreements to enlist other companies on EGX, he noted. The Egyptian top official added that EGX approached several government and private companies to list their shares, where officials of those companies welcomed the proposal but have not taken any serious steps yet in this regard. Elsewhere, Omran announced that the EGX listing committee will discuss the current week the listing of the first ETFs company, adding that the actual listing will be carried out next week upon completing all documentation. The company is expected to be added to EGX-listed companies this week. Beltone will issue the IPO prospectus after obtaining the approval of the Egyptian Financial Supervisory Authority (EFSA), the top official told state-owned news agency MENA. Two months earlier, Omran had said the Minister of Awqaf Mohamed Mokhtar Gomaa agreed in principle to study the offering of companies affiliated to the ministry for public subscription. The move is aimed at capitalizing on the current activity in the local stock market, Omran said, adding that the IPOs will positively reflect on both the stock exchange and those companies. According to Omran, Gomaa said he is keen on increasing the number of the ministry’s listed companies and avoiding the delisting of the currently listed ones. More»
Yomna Yasser - 2014-10-19 09:22:55
Egypt's stocks opened a new week of trading higher with early gains worth 2.7 billion Egyptian pounds backed by the return of foreign investors’ buying appetite. Accordingly, the country’s main stock index, EGX30 started trading in green above 8705 points, to halt 5-session bearish performance. The Egyptian Exchange (EGX)'s indices were wavering on green notes during the opening session of Sunday. Indices The Benchmark EGX30 climbed by 1.32% to 8707.05 p. In addition, EGX20 inched up by 1.55% to 9982.06 p. The mid- and small-cap index, the EGX70 also grew by 1.08% to 578.36 p.  Price index EGX100 also hiked by 0.91% to 1060.04 p. Furthermore, market capitalization reached EGP 489.380 billion, according to data compiled by Amwal Al Ghad English at 11:13 a.m. Cairo time (09:13 GMT). More»