Latest in Highlight
European stocks slip amid concerns of surge in COVID-19 cases
Market capitalisation up by EGP 10.6bn, EGX30 up by 2.55%
Contribution from insurance companies amounts to EGP 255m, or 41.2%, of total FRA income
EGX30 up 1%, market capitalisation gains EGP 5.9bn on Monday
Trading sessions in main market will be from 10:00 to 14:30
The Parliament’s planning and budget committee raised on Wednesday the stamp duty on stock market dealings as part of a draft law submitted by the government and scheduled for discussion in a plenary session next Sunday.
Blue-chip index, the EGX 30, closed at the end of Wednesday’s session at 10,396 points, while the EGX70 EWI index decreased by 2.18%
EGX30 tests 10,800-11,000 points level in remaining sessions of Ramadan, says Lotfy
New index follows new methodology to better reflect performance of companies, says Mohamed Farid
Gulf stocks gain, Saudi Arabia’s benchmark index closes at 2.4%, Dubai 1.9%
The market capitalisation rose by EGP 11.2bn to EGP 555.3bn after the turnover of EGP 1.5bn that included equity transactions worth EGP 500m.
Expectations to test 11,000 points over weekend
Benchmark index to target 11,000 points on medium-term, says pundit
Market expected to test support levels between 8500-9000 points, says MEDAF
EGX drops 1.76%, Dow and S&P 500 both decline 3.4%, France’s CAC 40 4.4%, UK’s FTSE 100 fell 3.8%
60% of employees now working outside of office: EGX Chairperson
CBE has EGP 1trn of excess liquidity, deferred loan installments recorded EGP 1.8trn
EGX 30 index closed at 9,912.98 points, recording an increase of 7.68%. EGX70 EWI index posted 14.15% gain concluding the session at 959.42 points, while the S&P index rose by 8.46% and concluded the session at 1,379.63 points.
These companies include Palm Hills Developments, Eastern Company, Orascom Development Holding, GB Auto, Egypt Kuwait Holding, Raya Holding for Financial Investment, Electro Cable Egypt, and Arab Moltaqa Investments Company.
EGX30 down 2.76%, with turnover falling to EGP 762m
CBE’s initiative should focus on absorbing sale shocks not pushing prices up, says Sabaa
EGX30 down 17.7% last week despite Thursday’s session 5% increase
Target Real Estate Investment and its owners own about 21.2% of the shares of Dice Ready Made Garments.
Both banks to offer 1-year saving certificates with 15% yield on Sunday
Global, local stock exchange losses, halting transactions will likely trigger panic selling
Postponing application of capital gains tax to stock transactions is more harmful than maintaining its current status: Saeed
On the positive side, EGX30 Index witnessed a notable rise during Tuesday’s session, gaining (+1.97%) and closed at the session’s high of 11,199 points associated with above average volumes.
In his speech, Farid revealed that two private sector companies were offered on EGX in 2020. Their offering came as a result of EGX’s changing methodology in receiving companies’ listing.
EGX30 drops 7.31% to close at 10,983.48 points
The EGX 30 index closed at 12,347.65 points, recording a decline of 5.08%. EGX70 EWI index posted a 3.01% loss, concluding the period at 1,172.87 points, while the S&P index declined by 3.35% and concluded the period at 1,765.15 points.