Latest in Stock Market Highlight
Latest in Stock Market
Germany’s DAX hits all-time high on France, Ifo index
Germany’s blue-chip share index has surged to a record as investors were relieved by the success of French presidential candidate Emmanuel Macron
MTI completes IPO, oversubscription increases 19 times
Company in negotiations to acquire a microfinance company: Mahmoud
EGX keeps moving sideways amid weak purchasing power
Quick trades are dominating the market now, says Khalifa
EGX rose to 5% at end of Q1 2017
New IPOs and interest rate cuts are motives to continue the positive performance
Due diligence for RECAP and Wadi Degla partnership to be completed this year
Eman Sadek, the director of investor relations at RECAP Financial Investments—the real estate arm of Naeem Holding—said that the due diligence examination for a partnership with Wadi Degla Developments is set to be completed this year. The company announced the partnership in August 2016, yet procedures are not completed. Sadek noted that the due diligence …
EGX lists MM Group on Sunday, aiming to collect EGP 720m
The maximum price is set at EGP 6.06 per share
EGX compensates last week’s losses with 0.4% growth
Horizontal performance controls the market, expectations of a decline towards 11,800 points
Real estate funds will enter Egypt through three contenders in 2017
NAEEM to issue two tranches, each at EGP 1bn
Foreign institutions, Aramco support EGX performance, boost expectations for continued growth
Foreign institutions, Aramco support EGX performance, boost expectations for continued growth
MM Group submits IPO request to EGX to float 30% of its capital
IPO procedures to begin after EGX approval this week with a maximum price of EGP 6.06 per share, says El Hossary
The Pound losing ground despite rising stock prices
In November, the Egyptian administration floated the Egyptian pound to secure a loan from the International Monetary Fund (IMF)
Strong USD drives EGX up by 500 points during last week
Potential slowdown in upward movement as the index reaches 13,000 points, says Abdel Kader
EGX issues new controls to limit practices harmful for market
The decision is applicable in case of control violations of the capital market law
A proposal to reduce stamp tax supports the cohesion of EGX
The Egyptian Exchange (EGX) indexes strengthened at the end of last week, following a wave of decline on the back of the high-stamp tax proposal, before the Ministry of Finance suggested to bring the rate down to 0.125%. The EGX has been suffering over the past week, recording at midweek its lowest transactions since October …
EFSA approves deal to sell CI Capital to Arab and Egyptian investors
This comes after the deal of selling CI Capital Holding to Naguib Sawiris failed
Finance Ministry proposes stamp tax on EGX transactions
Tax starts at 1.25‰ in the first year and will reach 1.75‰ in the third year
Expectations of EGX’s rebound to continue towards 13,000 points this week
Analysts in the market expect the rebound of the Egyptian stock exchange (EGX) to continue this week towards the level of 13,000 points, supported by the decision of the Central Bank of Egypt (CBE) to fix the price of banking interest rates after last weeks’ trading experienced a loss of 800 in the leading index. …
Nile Cotton Ginning calls for EGX, EFSA to return to trading on shares
Negotiations with the government reached a dead end and the current solution is to return trading
T+0, T+1 mechanisms increase by 40% of daily trading
MCDR targets interconnection with ADX and develop storage capacities by 2017, Abdul Bari says
EFSA studying permission for T+0 mechanism for fund managers
Head of the Egyptian Financial Supervisory Authority (EFSA), Sherif Samy, told Daily News Egypt that the authority is considering the allowance of same-day trading, known as T+0, for fund managers, noting that they will study how this may conflict with the capital market law to remove any legislative obstacles. Samy added that the authority is …
Analysts expect EGX to move sideways awaiting CBE’s decision on interest
Bourse awaits Banque du Caire placement, following approval to list its EGP 2.25bn capital
EGX could attract falling Saudi investments, experts say
Saudi stock exchange has been witnessing huge losses for the second week respectively. According to a report issued by Al-Hayat news website, Tadawul—the stock market of Saudi Arabia—lost more than $3.5bn due to declining demand. The report added that the liquidity in the market declined by 18%, affecting the Tadawul All Share Index (TASI) negatively. …
Raya to offer shares on EGX in Q2 of 2017
Raya Data Center Company is preparing to offer a portion of its shares on the Egyptian Exchange (EGX) during the second quarter (Q2) of 2017. The investment bank EFG-Hermes will take over the position of the manager of the initial public offering (IPO) instead of Beltone. Reem Asaad, CEO of Raya Data Center, said that …
Concerns of imposing stamp duty overshadow EGX trading
The stock market is in danger due to the expected tax, says Saeed
Amer Group restructures restaurants to keep up with consequences of pound flotation
Company begins establishment of residential project comprising 23,000 units near Porto Marina
EGX30 targets 13,400–13,600 points this week
Technical analysts predict the EGX will continue making gains, while trading volume increases
EGX named one of highest US dollar revenue-achieving emerging stock markets in 2017
The initial indicators recorded by the Egyptian Exchange (EGX) during the first two weeks, as well as international reports’ expectations of a relative increase of the Egyptian pound have confirmed that the EGX came amongst the list of stock exchanges achieving the highest US dollar revenues in 2017. There are three factors which put the …
Mubasher offers consulting for 3 deals worth EGP 150m
Mubasher Advisory for Securities is offering a package of financial consulting services to a number of companies, said board member Ehab Rashad. The companies, he explained, aim to register on the Egyptian Exchange (EGX), Nile Stock Exchange, or implementing expansions. Rashad noted that the first deal, to which Mubasher is advising, includes three deals for …
EGX30 targets 13,100 points this week
Technical analysts predicted that the Egyptian Exchange (EGX) will continue to take advantage of the falling price of the pound, and aims to achieve a new record level near 13,050-13,100 points in this week’s trading after the New Year’s celebrations and Christmas holidays. The EGX30 closed at a new level of 12,824.3 points, with weekly …
EGX to communicate with the government to activate IPO programme
Positive indicators of EGX increases chances of new IPOs success, says EGX chairperson