Latest in Stock Market Highlight
Latest in Stock Market
Egyptian Exchange turns red amid fears of new COVID-19 strain
Egyptian Exchange was affected by global markets panic, traders should adopt wait-and-see approach until market stabilises: El-Maraghy
MM Group intends to contribute 49.9% to Basata non-banking financial services
MM Group announced that it will contribute to increasing the capital of Ibtikar Holding Company for Financial Investments by EGP 150m
EGX targets 10,800 points resistance level, should 10,650 points barrier be surpassed
Market is currently witnessing fluctuation, particularly off back of anticipated results of yet-to-be-confirmed US presidential elections
EGX loses over EGP 10bn due to panic selling in CIB shares
CIB price falls by 10%, but purchases by local portfolios and funds offset stock’s value loss to 6.9%
EGX expects good performance as CIB deposit certificates climb on LSE
Slight selling pressure is projected at beginning of Sunday session
EGX falls over growing foreign sales fuelled by fears of second COVID-19 wave
Expectations for sideways trend to continue between 11,200 and 11,500 points, with good opportunities to trade
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EGX awaits IPOs of 3 e-payments companies in 2021
Fawry sees shares jump 300% within 12 months, encourages electronic payment companies to get listed
Traders expect improved EGX performance on back of interest rate cuts
Accordingly, they expect Sunday’s trading session to witness the results of the CBE decision, which will affect the attractiveness of other investment tools for fixed-income instruments.
EGX to see sideways trend this week on lack of market catalysts
Analysts forecast EGX to break the 11,200 points barrier this week
EGX expected to test 11,200 point resistance level this week
Last week, market capitalisation reached EGP 616.8bn, down by 1.7%
EGX correction expected to dominate performance pending new stimuli
EGX30 targets support level of 10,800 – 10,970 points this week
EGX launches account aggregation system for Egypt’s SME market
New system facilitates institution ability to deal with shares in Egypt’s SMEs
EGX faces corrective dip before resuming rise
The EGX now faces a potential corrective dip before resuming its rise towards breaking a new resistance level, since it is difficult to breach successive resistance levels without correcting down.
Foreign purchases support EGX rally towards 11,800 points
Investors should focus on banking, non-banking financial sectors and chemical sectors: Abdel Hakim
EGX expected to breach 11,600 barrier supported by regained investor confidence
EGX ends Sunday’s trading in green, market cap gains EGP 10.6bn
Improved corporate business results, expected unchanged interests push EGX to consolidate
Moving above 10,600 points will help EGX breach resistance levels, says Okaz official
Stable EGX trading expected after holidays supported by stamp duty cut
EGX trade sessions last week, also the final week of July, were limited to only four due to the run-up to the Eid Al-Adha holiday.
Tokyo stocks close lower on earnings concerns, firm yen
Investor sentiment remained pessimistic sending Tokyo stocks lower for a fourth straight day amid concerns about continued negative impact of the pandemic
COVID-19 sees varied market impacts of profits, losses on Egyptian companies
Pharmaceutical, chemicals, food, communications sectors achieve profits, whilst industrial, real estate, tourism sectors incur losses
Tokyo stocks open lower as investors tentative ahead of long weekend
As of 9:15 a.m., Tokyo 225-issue Nikkei Stock Average lost 43.97 points, or 0.19 percent, from Tuesday to 22,840.25.
EGX ends Wednesday trading on mixed note as EGX30 resumes gains
European stocks slip amid concerns of surge in COVID-19 cases
Industrial stocks surge in anticipation of more energy prices cut
Industry sources told Daily News Egypt that companies, including Egyptalum, continue to push hard for a further lowering of electricity prices from the current $0.06/kwh or EGP 1.0/kwh, to $0.04/kwh.
EGX-listed companies contribute EGP 80m to FRA income
Contribution from insurance companies amounts to EGP 255m, or 41.2%, of total FRA income
EGX30 rises 2.5% to test 11,000 points barrier
Analysts recommend trading selected stocks
Egypt’s new IMF loan agreement stimulates stock market
The benchmark index EGX30 closed at 11,108 points, while the EGX70 EWI rose 3.09% to 1,259 points, and the EGX100 EWI rose 3.31% to 2,028 points.
EGX to resume trading next Sunday
Trading sessions in main market will be from 10:00 to 14:30
EGX declines 1.8% following parliamentary discussions on stamp tax rise
Blue-chip index, the EGX 30, closed at the end of Wednesday’s session at 10,396 points, while the EGX70 EWI index decreased by 2.18%
EGX closes at highest level of 10,500 points buoyed by local purchases
EGX30 tests 10,800-11,000 points level in remaining sessions of Ramadan, says Lotfy
EGX launches new index EGX100 EWI to diversify market performance measurement
New index follows new methodology to better reflect performance of companies, says Mohamed Farid