egypt stock exchange |

Egypt Stocks Surpass Pre-Currency Float Levels as Rally Advances

CAIRO (Capital Markets in Africa) – Egyptian shares extended their rally this year to push the benchmark index beyond its pre-currency float level, boosted by speculation that economic reforms will continue to benefit local companies. The EGX 30 Index rose 1.5 percent in Cairo, extending its gain in the past two sessions to 3.7 percent. In dollar terms, the gauge has now recovered all of its losses since November 2016, when the country allowed the…

Egypt Bourse Expects Up to Seven IPOs This Year, Most Since 2011

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CAIRO (Capital Markets in Africa) – The Egyptian stock exchange is expecting as many as seven initial public offerings this year, starting as soon as this month, which would be the highest number of share sales since the 2011 uprising that ousted President Hosni Mubarak. An IPO this month is likely to be followed by another in April, and a further four or five share sales before year-end, Egyptian Exchange Chairman Mohamed Farid said in an…

Egyptian Financial & Industrial Rises 5%; Trading Volume Surges

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CAIRO (Capital Markets in Africa) – Egyptian Financial & Industrial Co. rose 4.6 percent, the biggest gain since Oct. 8, 2017 compared with end-of-day price changes and 30 times the country’s benchmark index. The shares climbed to EGP 18.10 from EGP 17.31. Trading volume was almost seven times the 30-day average of 132,061 for this time of day. Egyptian Financial & Industrial’s move compares with little change in the Egyptian Exchange EGX 30 Price Index, which was up 0.15…

Egypt’s EGX 30 Up Most Since Nov. as Investors Target Dividends

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CAIRO (Capital Markets in Africa) – Egypt’s EGX 30 rises 1.2% to 14,953.17 in Cairo on Monday, the most since Nov. 28; Investors looking for income in the form of dividends, says Sherif Shebl, equities trader at Pharos Holding for Financial Investments in Cairo. 18 shares advance, nine drop and three are unchanged CIB up 3.2%, contributes most to index gain Biggest increase in almost a year Highest level since Nov. 2 NOTE: Lender is the biggest…

Arabian Cement Egypt Rises 5%; Trading Volume Surges

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CAIRO (Capital Markets in Africa) – Arabian Cement Co. rose 4.6 percent, the biggest gain since April 11 compared with end-of-day price changes and almost 14 times the country’s benchmark index. The shares climbed to EGP 8.81 from EGP 8.42. Trading volume was more than five times the 30-day average of 494,560 for this time of day. Arabian Cement Egypt’s move compares with the 0.3 percent gain in the Egyptian Exchange EGX 30 Price Index and little change in…

Egyptian Stocks Leap; EFG-Hermes Predicts 20% Upside in 2018

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CAIRO (Capital Markets in Africa) – Egypt’s main stock benchmark, the EGX 30, gains 2.2% to 14,534.67 as of 12:30pm in Cairo, the steepest intraday advance since March 2. EFG-Hermes sees local market as being in the middle of “a multi-year rally“ supported by broad reforms with multiple catalysts ahead. EGX 30 has 20% upside through the end of 2018, strategist Mohamad Al Hajj writes in a note. Index rises to the highest level in dollar terms since…

Egypt Market Watch | Dec 15 2016: Egyptian Stock ends in green zone

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Cairo (Capital Markets in Africa) – The Egyptian Exchange finished Thursday’s trading session on a higher note, backed by foreign investors’ purchases. The main index EGX30 edged up 8.9 points or 0.08% to 11,326.03 points. The small and mid-cap EGX70 inched up 0.24% to 451.71 points. The broader index EGX100 ended higher 0.14% to 1,064.36 points and the equal-weighted index increased 5.8 points or 0.32% to 1,819.8 points. Market capitalization added EGP 571.06 billion to…

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