Latest in Stock Market Highlight
Latest in Stock Market
EGX-30 expected to range between 5,900 and 6,200
Investors still wait for positive news to return to their purchasing behaviour
LE 1.2bn estimated value of Domty IPO: Sources
Arabian Food Industries Company Domty announced today the offering of up to 122,500,000 existing ordinary shares representing 49% of the company’s outstanding share capital listed on the Egyptian Exchange (EGX) currently owned by the selling shareholders.
EGX-30 to range between 5,850 points and 6,150 points: Capital market analyst
Total value of traded securities recorded EGP 2.8bn, an official report issued by the EGX read
OTMT nominates Beltone Financial Holding to finalise acquistion of 100% of CI Capital
Orascom Telecom Media and Technology Holding (OTMT) announced today that its management has agreed to nominate Beltone Financial Holding to purchase 100% of CI Capital.
EGX-30 slides down to 5,700 points
Benchmark index expected to range between 5,300 and 5,900 points, analysts say
Gulf markets decline once more
Qatar dropped by 2.04%
EGX-30 to fluctuate between 5,300 and 5,900 points
The acquisition of CI Capital by OTMT will reflect positively on the market
NILEX lacks vision
Political, economic turmoil in last five years caused low turnout on NILEX
Savings certificates, bonds, foreign deposits prove immune to stock market crisis
Small investors’ portfolios lost an average of 70% of their value, prompting investors to look for safe investment alternatives
Will new IPOs be the saviour of the capital market?
Despite holding major conferences to market the role of the EGX in raising capital, its Chairman Mohamed Omran has not been approached by new companies since the beginning of the year, neither state owned nor private
Foreigners lead stock market to decline in January
Foreign investors’ transactions registered net sales of EGP 548.85m
Decision to propose capital increases for 2 banks on EGX is governamt’s most impotant in recent years
Chairman of the Egyptian Exchange (EGX) Mohamed Omran said the government’s and the Central Banks of Egypt’s (CBE) decision to increase capital of two banks through the stock exchange is considered one of the most important economic decisions made in Egypt during the recent years. The statement was part of Omran’s speech in the opening session of …
Qalaa Holdings closes sale of Misr Glass Manufacturing, United Glass Company
The sale is at a combined equity value for 100% of both MGM and UGC of EGP 828m
Asia markets remain volatile as losses begin stabilizing
Asian markets mostly fell at the end of the trading session on Tuesday. China’s benchmark has stabilized a day after plunging nearly 7 percent.
German stocks index rises for fourth consecutive year
Germany’s blue-chip stocks index, the DAX-30, has completed a fourth year of a rising trend as 2015 comes to a close. An index of European blue chips also rose, albeit by only half as much.
FEP Capital seeks to register 3 new companies in NILEX in 2016
FEP, which is owned by Egyptian and Gulf investors, has great confidence in the Egyptian economy and the performance of the Egyptian Stock Exchange (EGX) in the upcoming period, Al-Shahin said in a statement to MENA.
Sawiris seeks to acquire CI Capital
Negotiations are in advanced phases, deal worth around EGP 1bn through Beltone Financial
EGX-30 rises by 1.95% on Thursday
Stock market achieved EGP 643.63m during the trading of 315.94m shares
IndiGo shares soar in market debut
India’s leading airline is celebrating a ‘blockbuster takeoff’ as shares surged high above their listing price. The IPO is aimed at solidifying IndiGo’s grip on one of the world’s fastest growing aviation markets. IndiGo got off to a flying start as India’s largest carrier made its market debut on Tuesday, with shares in its parent …
EGX-30 rises by 1.23% on Thursday
Market gains of EGP 3.6bn at the end of Thursday’s trading session
Shares in Japan Post soar on market debut
Japan Post, a massive formerly state-owned conglomerate, went public on the Tokyo Stock Exchange Wednesday, raising $11.5 billion in an initial public offering that was this year’s biggest. After the opening bell in Tokyo, investors scrambled to snatch up shares in the three companies affiliated with Japan Post, including the group’s holding, insurance and banking …
Candy Crush now in the World of Warcraft
US computer game company Activision Blizzard has said it’s acquiring the UK’s King Digital Entertainment, the company behind Candy Crush. It means the coming together of two different business models. Activision reported Tuesday it was buying the Candy Crush maker in a deal valued at $5.9 billion (5.4 billion euros). The US computer game company …
Fiat-Chrysler makes a killing from Ferrari IPO
After the US-Italian car giant brought a 10-percent stake of the legendary racing car brand to Wall Street last week, it has now announced gross proceeds of close to a billion dollars from the share issue. After closing the book on the Ferrari initial public offering (IPO) on Monday, Fiat-Chrysler Automobiles (FCA) said the sale …
US prosecutors drop insider-trading charges against fund manager after landmark court decision
Charges against Michael Steinberg, a former fund manager at SAC Capital Advisors, have been dropped. The move follows a landmark appeals court decision. Prosecutions on insider-trading charges in the US have become more difficult following a landmark appeals court decision. A federal prosecutor in Manhattan, Preet Bharara, (photo) said on Thursday he would move to …
Morgan Stanley earnings take a hit
US investment banking heavyweight Morgan Stanley has seen its third-quarter profits dropping steeply. The lender attributed the fall largely to poor bond trading operations, with major rivals not doing any better. New York-based investment bank Morgan Stanley on Monday reported a 42-percent drop in third-quarter net profit. The lender, which is also a major wealth …
German shares outperform on Metro, Deutsche Bank
German shares were the top performers Monday morning, lifted by a positive outlook for retail giant Metro and promises by Deutsche Bank to overhaul its investment banking unit. Chinese GDP data made for a slight hiccup. Germany’s blue-chip DAX index was up 0.7 percent by mid-morning at 10,174 points, beating pan-European shares listed on the …
OTMT, Act’s intention to acquire Beltone positively affects stock market
OTMT’s share of the offer is 87% and Act’s share of the offer is 13%, the transaction value is estimated at up to EGP 650m
US Fed rate decision keeps markets volatile
Asian shares have rallied on relief that the US Fed held off on raising interest rates. But renewed concerns about the health of the global economy have caused equities’ trading to remain choppy across the world. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.9 percent to a four-week high on Friday, with financials …
US stocks volatile after Fed keeps rate steady
US stock markets swung between big gains and losses after the Fed kept interest rates near zero. Investors struggled to decide how to interpret the decision and what it means for the health of the US economy. Wall Street gave up a rally of more than 1 percent on Thursday, after the Federal Reserve decided …
EGX provides EGP 20bn for listed companies since 30 June uprising
EGP 5bn volume of IPOs in 1H 2015, Omran says