The Egyptian Exchange of the Small and Medium Enterprises (SMEs) – NILEX has started this week with 4 stocks advanced, 3 steadied, while Marseille Almasreia Alkhalegeya For Holding Investment (MAAL) solely declined. Marseille Almasreia Alkhalegeya For Holding Investment (MAAL)’s stock pushed down by 1.39% to close at EGP 4.27. The stock has led NILEX value traded as it reached EGP 181.517 thousand distributed to 42.544 thousand securities exchanged through 44 transactions. On the contrary, International Business Corporation For Trading and Agencies - IBC (IBCT)’s stock led NILEX’s upwards as it climbed 2.47% to conclude at EGP 7.47. Al-Moasher for Programming and Information Dissemination (AMPI)’s stock pushed up by 2.34% to close at EGP 1.31. Utopia Real Estate Investment and Tourism (UTOP)’s stock inched up by 1.44% to finish at EGP 7.75. Port Saied for Agricultural Development and Construction (PSAD)’s stock surged by 1.29% to conclude at EGP 3.94. Meanwhile, the stocks which remained with no change were Egypt Intercontinental for the manufacture of granite and marble EGY-STON (MISR) at EGP 4.10, BIG Trade and Investment (BIGP) at EGP 1.14, and Univert for Food Industries (UNFO) at EGP 0.80. More»

The Egyptian Exchange (EGX) has opened a new week with gain worth EGP 1.43 billion despite the conflicting statements released over the last 3 days by the International Monetary Fund whether the talks over the US$ 4.8 loan are back to the drawing board or will be finalized very soon like the case with Tunisia’s US$1.75 billion. The capital market has amounted to EGP 362.326 billion, according to data compiled by Amwal Al Ghad English at 11:00 a.m. Cairo time (09:00 GMT) during Sunday’s opening  session. The EGX indices opened in green notes. Benchmark EGX30 inched up by 0. 38% to 5288.68 p; while EGX20 rose by 0.88% to 6221.39 p. Meanwhile, the mid- and small-cap index, the EGX70 edged up by 0.90% to 454.46 p.  Price index EGX100 increased by 0.66% to 756.74 p. During Sunday’s opening session, the trading volume has reached 16.527 million securities worth EGP 42.518 million, exchanged through 2.452 transactions. More»

In a week, the Egyptian Exchange has incurred losses of EGP 128 million driven by the profit-taking transactions adopted all over the week after gaining profits of EGP 12 billion a week earlier. The capital market has hit EGP 360.896 billion at the end of last week, compared to EGP 361.024 billion at the end of a week earlier. Egypt’s stock exchange benchmark EGX 30 index inched up by 0.71% this week, representing an increase of 36.96 points, ending Thursday’s transactions at 5268.43 points compared to 5231.47 points at the end of last week. EGX30 hit its highest point on Sunday closing at 5300.28 points, where its lowest point reported on Wednesday at 5259.07 points. Meanwhile, the mid- and small-cap index, the EGX70 tumbled by 0.78% closing at 450 points during Thursday’s session, compared to 454 points at the end of a week earlier. The price index, EGX100 rose by 0.55% concluding by 751.8 points during Thursday’s session, compared to 756 points at the end of a week earlier. Also in a week, the EGX has recorded a volume of trades hit  347.3 million securities, compared to 477 million securities a week earlier; while the traded value reached EGP 1.72 billion, opposed to EGP 1.5 billion a week earlier. More»

The stocks of the Egyptian Exchange of the Small and Medium Enterprises (SMEs) – NILEX have ended this week mostly down. After trading in 7 stocks on Thursday, 4 declined and 2 advanced; while Utopia Real Estate Investment and Tourism (UTOP) solely steadied at Wednesday’s level of EGP 7.64. Egypt Intercontinental for the manufacture of granite and marble EGY-STON (MISR)’s stock led NILEX downwards as it dived by 4.87% to close at EGP 4.10. Marseille Almasreia Alkhalegeya For Holding Investment (MAAL)’s stock also sank by 4.42% to end at EGP 4.33. BIG Trade and Investment (BIGP)’s stock pushed down by 4.20% to conclude at EGP 1.14. Univert for Food Industries (UNFO)’s stock tumbled by 1.23% to finish at EGP 0.80. On the contrary, International Business Corporation For Trading and Agencies - IBC (IBCT)’s stock inched up by 2.68% to conclude at EGP 7.29. Al-Moasher for Programming and Information Dissemination (AMPI)’s stock surged by 2.40% to close at EGP 1.28. The stock has led NILEX value traded as it reached EGP 469.146 thousand distributed to 365.259 thousand securities exchanged through 68 transactions. More»

The Egyptian Exchange (EGX) has managed to end this turbulent week posting gains of EGP 906 million backed by local buyers. The capital market has reached to EGP 360.896 billion during Thursday’s closing session. The EGX indices ended Thursday in green notes. Egypt’s benchmark index EGX30 inched up by 0.18% to close at 5268.43 p; while the EGX20, it also rose by 0.20% to end at 6166.96 p. Meanwhile, the mid- and small-cap index, the EGX70 advanced by 0.45% to conclude at 450.42 p.  Price index EGX100 surged by 0.34% to finish at 751.81 p. During Thursday’s closing, the trading volume hit 64.780 million securities, higher than Wednesday’s 61.442 million securities, representing an increase of 3.338 thousand securities. For the traded value, it reached EGP 272.720 million, exchanged through 12.920 thousand transactions. More»

During Thursday’s midday, the Egyptian Exchange (EGX) has posted gains of EGP 216 million backed by foreign buyers. The capital market has amounted to EGP 360.206 billion, according to data compiled by Amwal Al Ghad English at 12:55 p.m. Cairo time (10:55 GMT) during Thursday’s midday session. The EGX indices were in green notes during the midday session. Benchmark EGX30 inched up by 0.09% to 5263.75 p; while EGX20 rose by 0.01% to 6154.99 p. Meanwhile, the mid- and small-cap index, the EGX70 edged up by 0.31% to 449.77 p.  Price index EGX100 increased by 0.21% to 750.82 p. During Thursday’s midday session, the trading volume has reached 21.097 million securities worth EGP 116.407 million, exchanged through 4.911 transactions. More»

A law that will cancel a 10 percent acquisitions tax in Egypt will be announced before Altimo’s purchase of outstanding Orascom Telecom Holding SAE (ORTE.CA) shares, according to the head of the Arab nation’s clearing house. The Official Gazette will announce the law “within days,” Mohamed Abdelsalam, chairman of Egypt’s Central Clearing, Depository and Registry house (MCDR), said in a phone interview on Wednesday with Bloomberg. “Usually, it should go to the president to be ratified first.” The upper house of parliament’s economic committee canceled plans to tax stock exchange transactions, including acquisitions and dividends, Abdullah Shehata, adviser to the finance minister, said on Egyptian satellite channel CBC earlier this month. The announcement reversed a decision by the tax authority in March to impose a levy on shareholders profiting from selling shares in Societe Generale SA’s (GLE) Cairo-based unit to Qatar National Bank SAQ. Altimo, a unit of Russian billionaire Mikhail Fridman’s Alfa Group, offered to buy out investors in Orascom Telecom on April 1. It offered $0.70 per ordinary share and $3.50 for as much as 48.1 percent of Orascom share capital, which the Egyptian regulator issued a no-objection to yesterday. “I haven’t handed over the NSGB money to the tax authority,” Abdelsalam said, referring to National Societe Generale Bank SAE (NSGB) in Egypt. “When the law is announced, I will return the money to the people. It would have been difficult to give it back had I given it to the tax authority.” More»

During Wednesday’s closing, the Egyptian Exchange (EGX) has extended its midday losses to eventually reach EGP 1.5 billion driven by the local selling pressures. The capital market has reached to EGP 359.990 billion during Wednesday’s closing session. The EGX indices ended Wednesday in green notes. Egypt’s benchmark index EGX30 dropped by 0.68% to close at 5259.07 p; while the EGX20, it also declined by 0.88% to end at 6154.57 p. Meanwhile, the mid- and small-cap index, the EGX70 fell by 0.50% to conclude at 448.38 p.  Price index EGX100 inched down by 0.56% to finish at 749.26 p. During Wednesday’s closing, the trading volume hit 61.442 million securities, much less than Tuesday’s 94.348 million securities, representing a decline of 32.906 thousand securities. For the traded value, it reached EGP 348.152 million, exchanged 15.321 thousand transactions. More»

The anticipated bourse alliance project between the Egyptian and Turkish stock exchanges will come into effect next September, the Vice Chairman of the Egyptian Exchange (EGX) announced on Wednesday. Judge Khaled El-Nashar, EGX’s Vice Chairman, stated that the tie-up project between the EGX and Istanbul Stock Exchange (ISE) will be launched next September following the completion of  building up the infrastructure of the direct trading process between the two bourses. El-Nashar further said to the state-news agency MENA, most of the requirements necessary for the bourse alliance project have been finalized except for some challenges the EGX and ISE managements are currently working on. The EGX and ISE are trying to solve the obstacle of having different timing of trading. As for the Turkish bourse, the trading sessions are divided into two shifts; one session run on the morning and another on the evening. The two bourses are also working on solving another challenge of having different official and weekly vacations. More»

During Wednesday’s midday, the Egyptian Exchange (EGX) has posted losses of EGP 1.3 billion driven by foreign selling pressures. The capital market has amounted to EGP 360.222 billion, according to data compiled by Amwal Al Ghad English at 1:00 p.m. Cairo time (11:00 GMT) during Wednesday’s midday session. The EGX indices were in red notes during the midday session. Benchmark EGX30 inched down by 0.56% to 5265.5 p; while EGX20 fell by 0.82% to 6158.59 p. Meanwhile, the mid- and small-cap index, the EGX70 dropped by 0.36% to 449.04 p.  Price index EGX100 dipped by 0.42% to 750.31 p. During Wednesday’s midday session, the trading volume has reached 29.480 million securities worth EGP 198.717 million, exchanged through 7.940 transactions. More»