Latest in Stock Market Highlight
Latest in Stock Market
Absence of GDR selling operations’ data compromises accuracy of foreigners’ purchases in EGX
Brokers have confirmed that the Egyptian Exchange’s recording purchases of Arabs and foreigners worth EGP 2.35bn since the beginning of 2016 does not reflect the real trend, as EGX has not recorded sold depositary receipts abroad as a way of exiting Egypt for foreigners
UAE Exchange offers same-day cash pickup facility to customers in Egypt
Payment solution firm extends relationship with ALEXBANK to improve customer service and convenience
Deutsche Börse, LSE merger will carry on regardless
The Brexit vote has not impacted the resolve of Deutsche Börse and the London Stock Exchange to push through their planned merger. They said the tie-up would be even more important now that Britain was leaving the EU.
World stocks rally as Britain votes on Brexit
Share markets around the world have gained on expectations that Britain would vote to stay in the EU. European stocks rose for the fifth day running on Thursday, while the British pound hit a 2016 high.
MSCI Index declines by 2.14%
The fourth trading session of the week saw another decline of 1.04%, while the last session recorded a rise of 0.18%
Gulf markets plunge collectively last week
The Saudi market fell slightly by 0.37% and closed at 6,543 points, recording an average daily trading value of 3.195bn Riyals
Analysts expect EGX to overcome rise of interest rate by reaching 7,480 points
Analysts predicted that purchasing powers will be dominant during the trading session and push the EGX-30 index to reach 7,480 points amid weak trading volumes
Expectations of more companies issuing GDRs amid warnings of attracting liquidity from leading stocks
Investment managers say companies are seeking foreign investments through GDRs in light of the US dollar shortage, while local investors hide behind foreign institutions to obtain revenue in US dollars instead of Egyptian pounds
China brushes off MSCI snub
China has shrugged off a decision by stock index firm MSCI to continue ignoring the country’s A shares in its influential global equities index, saying that the gauge cannot be complete without the Chinese stocks.
Stock markets slide as UK referendum nears
Stock markets in Europe have continued their fall as traders get increasingly worried about the potential effects of a possible UK exit from the EU. Germany’s blue-chip index hit its lowest closing level in months.
MSCI Index rises at a rate of 0.93% last week
MSCI Emerging Market Index closed the past trading week registering a slight growth of 0.93%. Transactions closed at 823.82 points, compared 816.18 points at the end of the previous trading week. The index opened transactions this week at 0.87% and continued to rise during the following two sessions. But it pared gains over the last …
GCC stock markets achieve collective gains in weekly transactions
Qatar Stock Exchange rose by 3.19% and closed at 9,837 points, recording transactions of QR 911.153m.
Beltone calls on general assembly to issue GDRs on London Stock Exchange
Legal adviser for Beltone says acquisition of CI Capital failed due to the government’s intransigence
Analysts predict decline of EGX following failed Beltone-CI Capital acquisition deal
The EGX will likely decrease from 7,756 points to 7,600 points after the failure of the Beltone-CI Capital acquisition deal, said Mohamed Al-Assar
Beltone acquisition of CI Capital falls apart
On Thursday, Beltone announced it was unable to reach an agreement with CIB to extend the deadline for the acquisition offer
Beltone Financial Holding to acquire majority stake in New York-based brokerage firm
This agreement will expand Beltone’s presence in the US, in addition to more than 120 international markets
Orascom Construction achieves net income of $23m during Q1
Orascom Construction witnessed a growth of 296%
EGX’s technological infrastructure development plan begins with establishment of first modern data centre
New disaster recovery building to be built in Fifth Settlement as part of plan, Omran says
Frankfurt’s future as a financial hub
The planned fusion of the Frankfurt and London stock exchanges has sparked concern within the metropolis on the Main. Will Frankfurt lose its status as an important trading center? Stefan Wolff reports.
Cleopatra Hospital begins procedures to offer part of its shares on EGX
The 40m shares are 25% of the company’s total capital listed on the EGX
EPPC plans an IPO in mid-2017: Amwal Al-Khaleej executive
Amwal Al-Khaleej is targeting new investments in healthcare, pharmaceutical sectors in Egypt
Cleopatra Holding submits EGP 80m request to list in EGX
EFG Hermes was selected as the company’s financial adviser
Investors bet on volatility, fears grow
Fears of stocks tumbling are making investors so desperate that they are willing to lose capital to protect their investments
In Cartoon: Sawiris and Tarek Amer fight
Myanmar opens its first stock market
The Yangon Stock Exchange officially opened for trading on Friday. Hopes are high that it will help transform Myanmar’s weak economy, once rife with corruption under its former military junta.
Domty IPO oversubscribed by 10.718 times
Shares in the Arabian Food Industries Company’s (Domty) initial public offering (IPO) were oversubscribed by 10.718 times at the closing of the IPO on Thursday. Thursday marked the final day of the IPO, which was held on the Egyptian Exchange for approximately 12.250m shares. A total of 2,430 subscribers were registered for approximately 131.306m shares. …
Deutsche Börse, LSE agree ‘merger of equals’
Deutsche Börse and the London Stock Exchange (LSE) have reached agreement on the terms of their merger. The new company will maintain headquarters in Frankfurt and London.
Horizontal trading at 7,100-7,150 points expected on EGX: analyst
The increase follows the Central Bank of Egypt’s (CBE) decision to devalue the pound by 14.5% against the dollar, after holding an exceptional dollar auction for $200m
EGX to experience upwards trend in upcoming period: analysts
EGX-30 projected to range between 6,800 points and 7,000 points
Gulf’s markets post an average 3% increase
The slightest increase in the Gulf’s stock markets was recorded in the Muscat Securities Market (MSM), which inched up by 0.3% during the past week