Latest in Tag: Egyptian Exchange Highlight
Latest in Tag: Egyptian Exchange
EGX30 expected to move sideways to 8,000-8,500 points: analysts
Technical analysts predicted that the benchmark index EGX30 at the Egyptian Exchange (EGX) would move sideways, between 8,000 and 8,500 points, after it failed to maintain stability above the resistance level of 8,500 points during last week. EGX30 fell by 2.86% last week to close at 8,277.2 points at the end of the week, compared …
EGX to break through resistance level of 8,500 points
Analysts and technical reports predict that stability on this level will make EGX move to 9,000 points this week
EGX30 expected to test resistance level of 8,500 points
Predictions by technical analysts and executives of brokerage firms that the Egyptian Exchange (EGX) would continue its rising trend found proof during this week’s trading with support from purchases from foreign investors. They also expect that the EGX30 might test the resistance level of 8,500 points. The director of the technical analysis division of Osool Securities Brokerage, …
Registering fund certificates in EGX to allow investors to compare market and book values: assets managers
To activate this step, the regulatory rules for funding activities must be modified separately from the Capital Market Law’s executive regulations
EGX30 expected to continue moving sideways to 7,800-8,020 points: analysts
Technical analysts predicted that the Egyptian Exchange (EGX) would move sideways, leaning towards a decline, amid decreasing trading volumes this week. Moreover, they said the index should range between 7,800 and 8,020 points. They recommended that dealers and investors take advantage of this predicted decline over the first few sessions of the week to buy …
Experts advise government to offer controlling stake in upcoming IPO programme
Stock market experts maintain that government will secure only temporary financing if it insists on offering minority shares in the stock market and retains management rights
EGX seeks to restore its role in financing economic growth amid economic, political challenges
The recent financial indicators clearly reflect the severe recession experienced by the Egyptian Exchange (EGX) over the past 10 years. Additionally, the EGX’s inability to perform its essential role in financing the targeted economic growth of about 5.2% during the fiscal year (FY) 2016/2017 raised controversy. In 2008, the market capital of the GDP in …
Stock market surpassed itself in supporting growth despite economic slowdown: EGX chairperson
Mohammed Omran, chairperson of the Egyptian Exchange (EGX), said that the stock market played a vital role in supporting the country’s economic development despite Egypt’s slow economic growth. The stock market has provided funds in the form of initial and secondary offerings and increased capital through issuing bonus shares totaling EGP 37.72bn since mid-2013 until …
EGX30 retreats 0.1% during early trading on third day of Eid Al-Adha
The broader index EGX100 also increased by 0.01%, registering 816.9 points
EGX30 targets 7,900-8,000 points this week
Technical analysts predicted that Egyptian Exchange (EGX) will move sideways, dropping down during this week’s trading. EGX30 is expected to move between 7,900-8,000 points. Analysts pointed out that the EGX market witnessed a limited growth of 0.06% last week, rising from 8,131 points to 8,136 points. While the total trading value declined from EGP 3bn to EGP …
Cleopatra Hospital’s board approves 47% acquisition of CSH
Cleopatra Hospital Company (CLHO.CA on the Egyptian Exchange) announced that its Board of Directors approved the appointment of EFG Hermes Investment Banking to advise on the group’s potential acquisition of an additional 47% stake in Cairo Specialised Hospital (CSH), according press statement on Sunday. CSH is a subsidiary of Cleopatra Hospital, as the company acquired …
EGX falls to 8,050 – 7,993 points giving buyers the opportunity for future profit
Technical analysts and executives at brokerage firms expect the Egyptian Exchange (EGX) to continue its profit-making wave during this week’s transactions. EGX30 is expected to move between 8,050 and 7,993 points. Experts advise investors to purchase a number of shares if they continue to fall. Ehab El-Saeed, head of technical analysis at Osool Securities Brokerage …
GDR ratios not to exceed free-floating shares, MCDR to monitor
MCDR is closing the door for GDR transfers to Edita, OTMT, GTH, as they exceed the free-floating shares ratio
Banque du Caire to remain under state control after increasing its capital by 20% on EGX: chairperson
The bank will continue its role in serving the economy, even after the government’s stake in it is reduce
Investment Ministry examines readiness of 17 or 18 state-owned companies before listing on the EGX: state official
IMF mission is scheduled to review the IPO plan in the government’s reform programme as part of the procedures to approve the $12bn loan to Egypt
EGX expected to range from 8,400 to 8,500 points this week
Technical analysts predict that the Egyptian Exchange (EGX) will continue its rising trend, to reach 8,450 and 8,500 points during this week’s trading. Should the EGX face resistance, it could result in a decline to 8,100 points. The expectations tailed an increase in EGX30, as it had reached 8,255 points. The market has been climbing …
Recommendations to form purchasing centres in case EGX remains above 7,793 points this week
The Egyptian Exchange (EGX) is facing a tough challenge this week as it attempts to continue its upward direction, after the good performance it recorded last week. Technical analysts and executives at brokerage firms said that the market’s ability to go beyond 8,000 points would cause it to continue moving upwards. Experts advised investors to …
EGX jumps 5% during Wednesday trading, supported by IMF loan
The expected $12bn loan agreement with the IMF prompted institutions to increase purchases, amid expectations of further devaluation of the pound, says capital market expert
EGX expected to stay at 7,400 during Sunday trading
Technical analysts predicted that the Egyptian Exchange (EGX) will continue its sideways trend, leaning south, amid uncertainty of the Central Bank of Egypt’s (CBE) vision during the Sunday session. Last week, the EGX declined by 1.93% and closed at 7,437, after the CBE kept the value of the national currency unchanged for the second week …
InterCairo Aluminum to float 30% of shares in EGX during December
InterCairo Aluminum Industry awaits approval from the Egyptian Exchange to begin the IPO procedures, after the company has provided all the required documents
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 …
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.
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.
EGX expected to move between 7,050Â and 7,300 points this week
EGX closed at 7,182.8 points on Monday, with a 2.88% increase.
Trade violators will not be prohibited but rather subjected to tighter controls: EFSA
Lawsuit filed against board members of three companies listed on the EGX for manipulating stocks
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
Brexit for Egypt: the good, the bad, and the uncertain
While global economic attention is turned to the effects of the UK’s departure from the EU, Egypt stands to gain
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
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
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