Latest in Stock Market Highlight
Latest in Stock Market
Experts advise government to offer controlling stake in upcoming IPO programme
Stock market experts maintain that government will secure only temporary financing if it insists on offering minority shares in the stock market and retains management rights
EGX seeks to restore its role in financing economic growth amid economic, political challenges
The recent financial indicators clearly reflect the severe recession experienced by the Egyptian Exchange (EGX) over the past 10 years. Additionally, the EGX’s inability to perform its essential role in financing the targeted economic growth of about 5.2% during the fiscal year (FY) 2016/2017 raised controversy. In 2008, the market capital of the GDP in …
Stock market surpassed itself in supporting growth despite economic slowdown: EGX chairperson
Mohammed Omran, chairperson of the Egyptian Exchange (EGX), said that the stock market played a vital role in supporting the country’s economic development despite Egypt’s slow economic growth. The stock market has provided funds in the form of initial and secondary offerings and increased capital through issuing bonus shares totaling EGP 37.72bn since mid-2013 until …
Two revolutions and a US dollar crisis dilute funding development dream of EGX
EGX peaked in 2008 when its market capital recorded unprecedented levels, but it gradually receded due to sharp political and economic fluctuations
EGX30 targets 7,900-8,000 points this week
Technical analysts predicted that Egyptian Exchange (EGX) will move sideways, dropping down during this week’s trading. EGX30 is expected to move between 7,900-8,000 points. Analysts pointed out that the EGX market witnessed a limited growth of 0.06% last week, rising from 8,131 points to 8,136 points. While the total trading value declined from EGP 3bn to EGP …
Foreigners continue to decrease capital market portfolios, EGP 626m in net sales for August
EGS surpasses other brokerage companies in the first nine months of 2016 with EGP 22bn in operations
EGX issues amendment to suspend companies failing to send financial statements on time
The amendment substitutes an old rule that prevented the EGX from suspending traded shares unless 15 days has passed since the specified period for sending financial statements for two consecutive fiscal years
EGX falls to 8,050 – 7,993 points giving buyers the opportunity for future profit
Technical analysts and executives at brokerage firms expect the Egyptian Exchange (EGX) to continue its profit-making wave during this week’s transactions. EGX30 is expected to move between 8,050 and 7,993 points. Experts advise investors to purchase a number of shares if they continue to fall. Ehab El-Saeed, head of technical analysis at Osool Securities Brokerage …
A.T. Lease plans to re-offer shares in EGX during Q4 of 2016
The company was granted a three-month period for its offerings, due to end in December
Markets tepid as Jackson Hole meeting looms
Ahead of an annual meeting of bankers in Jackson Hole, Wyoming, markets have been lackluster as investors kept wondering about the likelihood of a US rate hike. More hints are expected from the Fed chair.
Establishing companies through IPO takes over amid government trend of financing through EGX
Government demands that it benefit from the exceptions made by the EGX in 2014 regarding launching companies established through IPO, especially in the infrastructure and agricultural sectors
EGX30 targets 8,150 – 8,400 points this week
Technical analysts predicted that the Egyptian Stock Exchange (EGX) will move sideways between 8,150–8,400 points, perhaps dropping down to the 8,100-8,050 points during this week’s trading, awaiting any new economic incentives that will encourage investors to rebuild purchasing centres again. Analysts pointed out that the EGX market witnessed a limited decline of 0.72% last week, …
EFSA introduces new draft bills for insurance supervision regulation and control
The insurance industry plays a vital role in providing financial protection to both individuals and investment projects, says Investment Minister
BPE Partners awaits EFSA approval of fair value report within two weeks
Hazem Barakat, chairperson of BPE Partners for Financial Investment—formerly Beltone Capital—said that his company is looking forward to obtaining the Egyptian Financial Supervisory Authority’s (EFSA) approval for the fair value report of the company’s shares within the next two weeks.
MSCI index breaks 910 points for first time in 13 months
MSCI index continued to rise through the past week’s trading sessions. The index rose during the last five sessions from 885.52 points to 910.08—an increase of 2.77%. This increase to 910.08 points is the highest level registered by the MSCI index since 15 July 2015. The MSCI index started the past week’s trading session approaching …
Sideways trend dominates Gulf markets in past week’s trading
The Arab Gulf stock markets experienced a sideways trend over the past week affected by the high price of Brent Crude, which rose from $42.14 up to $46.97 per barrel since the beginning of August. Qatar led the region-wide rise to finish 2.57% higher during the past week’s trading. It increased from 10,681.08 points to …
Dax index logs year’s high on Munich Re results
Germany’s benchmark index of blue-chip stocks has risen to a new high this year as investors keep being in a bullish mood. Earnings results by reinsurer Munich Re helped the Dax prosper in midday trading.
The transformation and decline of Deutsche Bank
Shares of Deutsche Bank and Credit Suisse have been dropped from the prestigious Stoxx Europe 50 share index. Is European banking in decline? And if so, what are the factors that led to its current parlous state?
MSCI overcomes sideways trend, closes at 885.5 points in last week’s sessions
The MSCI index overcame the sideways trend which has dominated its performance since the middle of July. During the past five sessions, the index rose from 873.5 points to 885.52 points, recording an increase of 1.38%. The MSCI index began its first session last week with a slight increase from 880 points to 884 points. …
EGX expected to range from 8,400 to 8,500 points this week
Technical analysts predict that the Egyptian Exchange (EGX) will continue its rising trend, to reach 8,450 and 8,500 points during this week’s trading. Should the EGX face resistance, it could result in a decline to 8,100 points. The expectations tailed an increase in EGX30, as it had reached 8,255 points. The market has been climbing …
NI Capital evaluates 5 oil companies to offer 20% of their shares on the EGX
The list includes Sidpec, AMOC, and MOPCO, while Petrojet may follow in the second phase
MSCI continues moving sideways near 873.5 points over the last week
The MSCI index continued moving sideways for the second week in a row. It rose from 869.8 points to 873.5 points─an increase of 0.42%. The MSCI index closed early last week at 870 points, amid low trade volume. On the following day, the index broke 873 points. It kept moving upwards during Wednesday’s session, approaching …
Kuwait tops Gulf stock markets amid varying performance
Performance of Gulf stock markets varied over the past week. The Kuwait Stock Exchange (KSE) rose by 1.29%, recording an average daily trade volume of KD 7.236m. The Qatar Stock Exchange (QSE) followed in second, having closed at 10,652.3 points and an average trade volume of QR 181.6m per day. The Muscat Securities Market (MSM) …
Recommendations to form purchasing centres in case EGX remains above 7,793 points this week
The Egyptian Exchange (EGX) is facing a tough challenge this week as it attempts to continue its upward direction, after the good performance it recorded last week. Technical analysts and executives at brokerage firms said that the market’s ability to go beyond 8,000 points would cause it to continue moving upwards. Experts advised investors to …
EGX jumps 5% during Wednesday trading, supported by IMF loan
The expected $12bn loan agreement with the IMF prompted institutions to increase purchases, amid expectations of further devaluation of the pound, says capital market expert
Pokemon Go warning triggers Nintendo stock slump
Nintendo shares have taken a deep dive after the company warned the Pokemon Go mania would only have a limited impact on net profits. Investors had been hoping for a big leap forward in the months ahead.
Egypt to sign contracts in 3 months for shares of state-owned banks, oil companies on EGX
The IPO programme will span 5 years and priority is given to successful companies, while losing companies will be restructured first, says NI Capital CEO
MSCI moves horizontally, approaches 870 points during week’s trading
The MSCI index has moved within a limited range during last week’s trading, increasing to 869.8 points from 867.84—a 0.23% increase. The performance of the index was moving horizontally during last week’s sessions after starting the week with increases, approaching 868 points during Monday’s session, then approaching 870 points during Tuesday’s session. MSCI managed to …
Profits take over Gulf markets during last week’s trading
Qatar’s stock exchange topped the Gulf markets last week with an increase of 4.66%, reaching a level of 10,428.67 points, recording an average daily trading value of 144.914m riyals. Dubai capital market came second with an increase of 3%, reaching the level of 3,471.9 points, recording an average daily trading value of 496.84m dirhams. Saudi …
EGX expected to stay at 7,400 during Sunday trading
Technical analysts predicted that the Egyptian Exchange (EGX) will continue its sideways trend, leaning south, amid uncertainty of the Central Bank of Egypt’s (CBE) vision during the Sunday session. Last week, the EGX declined by 1.93% and closed at 7,437, after the CBE kept the value of the national currency unchanged for the second week …