Market Watch: Egyptian Equity Indices End in Mixed Note, Market Cap up EGP3bn

Market Watch: Egyptian Equity Indices End in Mixed Note, Market Cap up EGP3bn

Cairo (Capital Markets in Africa) – The Egyptian Exchange (EGX) ended Monday’s (17th July 2017) trading session on a mixed note, as the benchmark index EGX30 rose 1.02%, gaining 140.55 points, and closed at the level of 13,956.32 points. The equal-weighted index EGX50 rose 0.81% to 2,141.02 points. On the other hand, EGX70 declined by 0.75% to the level of 679.46 points, while the broader index EGX100 slipped 0.09% and closed at 1,569.44 points. The…

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Egypt Seeks Advisers for IPO Program Aimed at Boosting Revenue

CAIRO (Capital Markets in Africa) – Egyptian authorities are in talks with local and international investment banks to advise the government on selling stakes in state-run companies on the stock exchange, a senior official said. The plan focuses on initial public offerings that would “broaden the ownership” of the companies among Egyptians, bolster local capital markets and help the government raise revenue, Investment and International Cooperation Minister Sahar Nasr said. Egypt has already hired HSBC and EFG-Hermes…

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Egypt Stocks Surge on Bets Devaluation Will Drive Growth Rebound

Egypt Stocks Surge on Bets Devaluation Will Drive Growth Rebound

CAIRO (Capital Markets in Africa) – Egyptian stocks advanced the most in more than two months as investors bet that policy makers may devalue the country’s currency as soon as this week, luring back foreign investors and giving a lift to an embattled economy. The EGX 30 Index gained 3.2 percent, the most among more than 90 indexes tracked by Bloomberg globally after Ghanaian equities, to close at 8,133.12. Financial stocks, such as Commercial International Bank Egypt, the country’s largest…

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‘Super Rate Hike’ Still Seen in Egypt as Devaluation Looms

‘Super Rate Hike’ Still Seen in Egypt as Devaluation Looms

CAIRO, Capital Markets in Africa: Egypt’s central bank, which unexpectedly left borrowing costs unchanged last week, is keeping its powder dry for what one economist called a “super” rate increase. Five out of 8 economists in a Bloomberg survey had expected the Monetary Policy Committee to raise its key rate on Thursday to curb accelerating inflation and lay the ground for a widely anticipated devaluation. The meeting was likely the last before Egypt secures a…

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Egypt Equity Markets | 08 Oct 2015 : Egyptian Equities bull returns as stocks continue to rebound, market cap gains EGP 5.2 Mill….

Egypt Equity Markets | 08 Oct 2015 : Egyptian Equities bull returns as stocks continue to rebound, market cap gains EGP 5.2 Mill….

Cairo, Egypt, Capital Markets in Africa — Egyptian Exchange equity bull returned to the markets today as indices and sectors all saw increases and stocks continued to rebound further from losses sustained in previous sessions. The equity market capitalization ended at EGP 452,520 adding EGP 5,251 million to the EGP 447,269 billion recorded at the end of the previous days trading session . The benchmark index EGX30 gained by 137.11 points or 1.86 percent to end 7491.67 points from the 7354.56 points recorded…

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Egypt Equity Markets | 07 Oct 2015 : Egyptian Equities rebound from losses, EGX30 up 115.29pts, market cap gains EGP 4.1 Mill….

Egypt Equity Markets | 07 Oct 2015 : Egyptian Equities rebound from losses, EGX30 up 115.29pts, market cap gains EGP 4.1 Mill….

Cairo, Egypt, Capital Markets in Africa — Egyptian Exchange equity trading rebounded from losses incurred in the previous days trading as indices and sectors recorded increases encouraged by news of improved oil prices in the region. The equity market capitalization ended at EGP 447,269 adding EGP 4,148 million to the EGP 443,121 billion recorded at the end of the previous days trading session . The benchmark index EGX30 gained by 115.29 points or 1.59 percent to end 7354.56 points from the 7239.27 points recorded…

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Egypt Equity Watch | 21st July 2015: Egyptian equity markets indices start week on a high, EGX30 up 26.78 bps, market cap adds EGP 171 mill…

Egypt Equity Watch | 21st July 2015: Egyptian equity markets indices start week on a high, EGX30 up 26.78 bps, market cap adds EGP 171  mill…

Cairo, Egypt (Capital Markets in Africa):- Egyptian equity markets Benchmark Index, EGX70, EGX100 and the EGX20 capped index started the week on a high today with most of the Indices recording rises and market capitalisation topping EGP 486,708 Million. The benchmark index EGX30 closed on 8049.69 up 26.78 points to end the day with an increase of 0.33 percent from its previous close of 8022.91 points  (with the resultant year-to-date performance of -9.82 percent and equal to 3,534 points in US$ terms). The EGX20 capped index was up 1.44 points, gaining by 0.02 percent to close at 8088.23 up from 8086.79 recorded…

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