North Africa

Cairo, Egypt (Capital Markets in Africa):-Egyptian equity market continued yesterday positive momentum that was spurred by the government’s decision to suspend new capital gain tax implementation for two years. The market capitalisation rose by EGP 1.20 billion compared to yesterday’s gain of EGP 20.3 billion to close at EGP 502.475 billion. The benchmark index EGX30 commenced trading with strong gains that took it above the 9,000 mark. But, retreated to a gain of 0.9% to…

Cairo, Egypt (Capital Markets in Africa):- Egypt’s stock market indices rose and market capitalisation added about EGP 20.3 billion to close at EGP 501.590 billion amid announcement that the government decided to delay implementation of a much debated capital gains tax, which traders have criticised on the grounds that it is keeping away potential investment. The benchmark index EGX30 witnessed its biggest gains in 22 months, gaining 6.5 percent to close at 8,798.17 points (-1.44 percent year-to-date performance)….

Cairo, Egypt (Capital Markets in Africa):- The Egyptian Exchange (EGX) indices open the week on a negative mood, while market capitalization lost nearly EGP 960 million to close at EGP 481.727 billion. On similar note, Sunday’s traded volume amounted to 158.3 million shares, exchanged at turnover of EGP 352.214 million. Foreign investors were net buyers by EGP 44.4 million while National and Arab traders were net sellers by EGP 21.4 million and EGP 23.1 million, respectively….