EGX 30 Opens Above 4810 Pts, OTMT 9.68% Down; Thursday
Published Thursday, 12 July 2012 11:30 | Written by Amwal Al Ghad
During Thursday opening, the Egyptian Exchange (EGX) has posted gains of 1.2 billion as the capital market has amounted to EGP 342.162 billion, according to data compiled by Amwal Al Ghad at 09:08 GMT (11:08 a.m. in Cairo).
Egypt's President Mohamed Morsi said on Wednesday he would seek dialogue with political forces and judicial authorities to resolve a row over parliament, which was dissolved by the country's generals when they were still in charge.
"There will be consultations among all political forces, institutions and the supreme council of judicial authorities to find the best way out of this situation in order to overcome this stage together," Morsi said in a statement, read by spokesman Yasser Ali.
The Islamist president said he was commitment to the law and constitution. He added he was "committed to the rulings of Egyptian judges and very keen to manage state powers and prevent any confrontation".
The main index, EGX30 climbed 0.35% to hit 4811.39 p. EGX20 slumped 0.03% to reach 5497.35 p.
Meanwhile, the mid- and small-cap index, the EGX70 increased 1.04% to hit 430.34 p. Price index EGX100 edged up 0.93% to reach 739.32 p.
Traded volume reached 9.409 million securities worth 27.935 million, exchanged through 1.676 thousand transactions.
This was after trading in 89 listed securities; 9 declined and 74 advanced while 6 keeping their previous levels.
Egyptians and the non-Arab Foreigners were net buyers seizing 79.84% and 10.9% respectively, of the total markets, with a net equity of EGP 2.387 million and EGP 97.298 thousand excluding the deals.
On the other hand, Arabs were net sellers seizing 9.26% of the total markets, with a net equity of EGP 2.484 million excluding the deals.
EGX’s leading shares witnessed collective upwards except for the shares owned by Orascom Telecom Media & Technology Holding (OTMT.CA) which dived 9.68 to hit EGP 1.40.
Commercial International Bank:
The shares owned by Commercial International Bank- Egypt (CIB) (COMI.CA) have led EGX early downwards as they soared 1.61% to reach EGP 29.00.
The shares of EFG-Hermes Holding (HRHO.CA) climbed 1.18% to hit EGP 11.11. The trial of EFG-Hermes Holding SAE (HRHO.CA)’s co-Chief Executive Officers Hassan Heikal and Yasser El Mallawany on charges of market manipulation started Monday but the Court was adjourned until next July 14.
Talaat Moustafa Group:
The shares of Talaat Moustafa Group (TMGH.CA) managed to rose by 0.76% to reach EGP 4.00.
TMG shares poised Monday for the biggest drop since March 2011 after the panel of judges had recommended Sunday the annulment of a revised contract that allowed the government to sell a plot of land to Egypt’s biggest publicly traded real estate developer for its Madinaty project.
Orascom Construction Industries:
Shares of Orascom Construction Industries (OCIC.CA) hiked 0.63% to hit EGP 253.05.
Orascom Telecom Holding:
The shares owned by Orascom Telecom Holding (OTH) (ORTE.CA) inched higher 0.63% to reach EGP 3.18.
The Cairo-based company’s Zimbabwean unit said Wednesday active mobile-phone subscribers in that country rose to 2 million.