Latest in Stock Market Highlight
Latest in Stock Market
MSCI achieves strong 4.7% increase in past week’s trading
MSCI index registered a remarkable increase of 4.7%, rising from 828.84 points to 867.84 points in last week’s trading. MSCI index rose 2.16% during Monday’s session and then decreased to 0.87% in Tuesday’s session. MSCI registered an increase of 0.27% in Wednesday’s session, then 1.12% and 0.22% increases on Thursday and Friday sessions respectively.
Gulf markets see all-round increases in past week’s trading
Saudi Arabia ranked third with an increase of 2.5% to 6661.65 points, and achieved an average daily trading value of SR 4.23bn.
New exchange rates drive up Egypt Duty Free revenues by 13.7% despite tourism slump
Egypt Duty Free’s activity is influenced greatly by the movement of foreign currencies against the Egyptian pound, especially the US dollar and the euro as importing goods—such as electrical appliances, alcoholic beverages, and perfumes—is done in these currencies.
EGX expected to range from 7,550 to 7,600 points during Sunday trading
Technical analysts predicted that the Egyptian Exchange (EGX) will continue its sideways trend, ranging between 7,550 and 7,600 points during the Sunday session. A steady session is expected after the good performance of the stock market in the previous week. The analysts had said that the market was expected to break its sideways trend during …
Line messenger app shares soar in IPO
Priced high to begin with, Line shares shot up even further in value in its first day of trading. The chat app’s emojis have made it a hit in Asia, and investors seem confident that it’s success will spread.
Nintendo shares soar on ‘Pokémon Go’ mania
Shares in Japanese gaming giant Nintendo have extended their week-long rally as investors ride the coattails of the Pokémon Go craze sweeping across the globe, with an estimated 65 million user already playing the game.
EFSA Grievances Committee to review Beltone’s lawsuit against EGX on 20 July
Beltone consultant, Atef El-Sherif, said that the company’s action against the EGX came as a response to complaints received from investors about the repeated cancellation of the company’s stock transactions.
Nikkei soars on fresh stimulus hopes after Abe victory
Japan’s Nikkei index has rebounded after a week of losses, bolstered by expectations of fresh government stimulus to kickstart anemic growth and following a landslide election victory of Prime Minister Shinzo Abe.
Potential devaluation of pound causes EGX30 to rise to highest rate in 4 months
The transactions of Egyptians and Arabs were net buyers, while non-Arab foreign investors were net sellers.
MSCI Index declines by 1%, despite weekend’s gains
At the beginning of this week, the index started at 838 points, amid a contrasting performance.
EGX expected to move between 7,050 and 7,300 points this week
EGX closed at 7,182.8 points on Monday, with a 2.88% increase.
Asian markets tremble as pound sinks
British pound has plummeted to new depths as uncertainty over the economic impact of the UK’s pro-Brexit vote keeps worrying markets. Stock in Asia plunged again amid fears of long-term instability.
LSE shareholders approve merger with Deutsche Börse
Shareholders in the London Stock Exchange Group (LSEG) have voted overwhelmingly for a merger with Deusche Börse despite post-Brexit concerns voiced by German regulators about the new entity being domiciled in London.
New cement licenses threaten future Misr Cement market share: Beltone
Beltone said that ASEC contributed roughly 60% to Misr Cement’s revenues, which reached EGP 723.067m during Q1 of 2016.
Financial Brokerage Group tops brokerage firms in H1/2016 with 9.5% market share
The Commercial International Brokerage Company (CIBC) came in second place through executing operations worth EGP 15.164bn, obtaining a market share of 9.3%. CIBC executed deals worth EGP 1.776bn, obtaining 7.82% of the deals market.
EGX expects to move between 6,900 and 6,990 points during Sunday trading
The EGX closed on Thursday at 6,942.52 points, with a 0.15% increase.
Foreign investors register net purchases of EGP 2.137bn on EGX over 3 months
EFSA receives 103 new complaints against financial supervisory agencies and solves 106 complaints over five months
UK stocks erase all post-vote losses
London’s benchmark FTSE 100 stock index has erased all its post Brexit vote losses on a wave of bargain hunting activities. Energy and financial shares were among the biggest winners after slumping right after the vote.
No London HQ for Deutsche Börse-LSE after merger
In a huge blow to London, Germany has said the city could not host the headquarters of a planned European stock exchange giant after Britain’s exit from the EU. It could also not remain a center for trading in euros.
Takata shares jump as CEO may leave
Japanese auto parts supplier Takata has seen its shares rise sharply as its chief executive has hinted at his resignation.
Rami Aboul Naga succeeds Rania Al-Mashat on EGX board
Aboul Naga will succeed Rania Al-Mashat, who will move to the International Monetary Fund
US stocks slide as Brexit fallout worsens
US bank shares have led a steep decline on Wall Street as aftershocks from Britain’s vote to leave the European Union have roiled global markets again. Traders were uncertain about London’s future as a finance capital.
European shares dive as Brexit sparks uncertainty
European shares have continued their slide, after Britain’s decision to leave the EU shocked financial markets on Friday, sending the British pound to its lowest level in more than 30 years.
Asian markets open with continued sell-off of British pound
The British pound sank to 30-year lows while most stock markets in Asia tumbled following Britain’s decision to leave the European Union. Traders fear there will be months of uncertainty.
Beltone sues EGX chairperson for repeatedly canceling trading on its transactions
Cancellation of operations caused serious damage to the reputation of the company, with a negative impact on shareholders
Egyptian Stock Exchange collapses by 5.5% under the separation of Britain from the EU
EGX drops by 5.5% following Brexit vote
Brexit blows away MSCI’s last week gains
The index registered a slight weekly retreat from 806.22 points to 805.87 points, a decrease of 0.04%
Gulf markets achieve collective gains throughout last week
Dubai Financial Market increased by 1.81%, registering 3,367.6 points, with a weekly traded value amounting to AED 1bn
Egyptian Exchange at the mercy of Brexit repercussions
Technical analysts predict the market falling from 7,253.3 points to 6,800 points over Sunday and Monday
Mubasher backs down from seeking acquisition of financial consulting firm
The company is to receive a new license within two months, after hiring a financial consulting director