Latest in Stock Market Highlight
Latest in Stock Market
US stocks jump after Fed on hold, encouraging news on antiviral drug
US stocks index Dow Jones Industrial Average jumped 2.21%. S&P 500 rose 2.66%, Nasdaq Composite Index rallied 3.57%
HHD board of directors to be announced before end of May
New board follows resignation of all previous members earlier in April
EGX rises 3.26% with market capitalisation up EGP 11.2bn
The market capitalisation rose by EGP 11.2bn to EGP 555.3bn after the turnover of EGP 1.5bn that included equity transactions worth EGP 500m.
EGX breaks 10,300 barrier amid selective buying opportunities
Expectations to test 11,000 points over weekend
FRA finalises Sukuk regulations’ amendments, paving the way for promising investment
several companies want to issue sukuk in 2020, including real estate investment, services, agricultural reclamation
EGX rebounds on Egyptian purchases, holds above 9,000 points
Benchmark index to target 11,000 points on medium-term, says pundit
Foreign exits from EGX topple government market-support incentives
Market expected to test support levels between 8500-9000 points, says MEDAF
Stock market bloodbath continues
EGX drops 1.76%, Dow and S&P 500 both decline 3.4%, France’s CAC 40 4.4%, UK’s FTSE 100 fell 3.8%
CBE starts EGX investment, raises hope of rebound
EGX 30 index closed at 9,912.98 points, recording an increase of 7.68%. EGX70 EWI index posted 14.15% gain concluding the session at 959.42 points, while the S&P index rose by 8.46% and concluded the session at 1,379.63 points.
Listed companies turn to share buybacks to compensate for EGX losses due to coronavirus
These companies include Palm Hills Developments, Eastern Company, Orascom Development Holding, GB Auto, Egypt Kuwait Holding, Raya Holding for Financial Investment, Electro Cable Egypt, and Arab Moltaqa Investments Company.
Coronavirus fears erase EGX gains despite government stimulus
EGX30 down 2.76%, with turnover falling to EGP 762m
EGX celebrates Al Sisi-ordered investment but global stocks’ fall halves gains
CBE’s initiative should focus on absorbing sale shocks not pushing prices up, says Sabaa
Will EGX rally on NBE, Banque Misr EGP 3bn package continue, or will it be short-lived?
EGX30 down 17.7% last week despite Thursday’s session 5% increase
Sales of Arabs, foreigners push EGX30 down by 4.8%
EGX keeps dwindling despite tax incentives, interest rates slash
Government decision regarding stock exchange taxes awaited by EGX
Global, local stock exchange losses, halting transactions will likely trigger panic selling
COVID19-caused economic recession fears cost EGX biggest decline since 2012
Postponing application of capital gains tax to stock transactions is more harmful than maintaining its current status: Saeed
Coronavirus fears dominate EGX performance
On the positive side, EGX30 Index witnessed a notable rise during Tuesday’s session, gaining (+1.97%) and closed at the session’s high of 11,199 points associated with above average volumes.
Activating secondary market for non-state fixed income tools is my goal of running for Securities Union elections: El-Sawy
There must be a strong representation of fixed income instruments within the union: El-Sawy
EGX continues downtrend due to COVID-19 fears, approaching pre-floatation levels
EGX30 drops 7.31% to close at 10,983.48 points
EGX continues losses as COVID-19 continues to spread
The EGX 30 index closed at 12,347.65 points, recording a decline of 5.08%. EGX70 EWI index posted a 3.01% loss, concluding the period at 1,172.87 points, while the S&P index declined by 3.35% and concluded the period at 1,765.15 points.
TAQA Arabia contracts with Grant Thornton for IPO evaluation
TAQA Arabia is 55.9% owned by Qalaa Holdings. It is expected to continue reporting strong profit growth via its energy distribution activities.
MTI to list e-payments arms, Ebtikar on EGX by end of 2020, 2021 respectively
Establishment of new auto finance company has been completed, its activity starts last month
COVID-19 infects EGX: stocks plunge to lowest level since 2008 financial crisis
The EGX decided to stop the trading session for half an hour on Sunday, and later resumed the trading as the EGX100 index dropped 5% to 1,243 points level
TAQA Arabia plans to offer 25% on stock market for estimated EGP 1bn
Offering shall be completed before end of 1H2020
MOPCO sales growth supported by higher volume
EGP appreciation, Urea prices hold it back
Unfavourable regulatory developments hamper GB Auto’s profits
Financing business bottom line hits all-time high
Egypt’s cement sector wraps up FY19 with sales-volume driven revenue
Efficient players report better margins on favourable cost structure
COVID-19 fears trigger EGX fall, driven by foreign sales
EGX30 capped declined by 5.8% and concluded at 14,756.81 points, while EGX100 declined by 3.93% and concluded the period at 1,311.08 points.
HHD receives 4 offers for its management
Company to choose winner bid in April, taking 30-45 days to assess offers, says chairperson
A quiet EGX week expected, despite major firms’ strong financial results
Head of technical analysis at Pharos Holding Mohamed Osman believes the benchmark EGX30 is still hovering on its previous low at the support level of 13,550 points, thus the consistency of trading above that level paves the way for a possible rebound.