Stocks traded on the Egyptian Exchange of the Small and Medium Enterprises (SMEs) – NILEX were mostly higher by the beginning of this week after trading in 7 stocks. On Sunday, 4 stocks advanced, 2 steadied; while Al-Moasher for Programming and Information Dissemination (AMPI) solely fell. Al-Moasher for Programming and Information Dissemination (AMPI)’s stock inched down by 0.90% to close at EGP 1.10. On the contrary, Egypt Intercontinental for the manufacture of granite and marble EGY-STON (MISR)’s stock soared by 4.94% leading NILEX’s upwards. The stock closed at EGP 4.04. Marseille Almasreia Alkhalegeya For Holding Investment (MAAL)’s stock climbed by 4.50% to conclude at EGP 4.18. Additionally, BIG Trade and Investment (BIGP)’s stock surged by 4.46% to finish at EGP 1.17. Port Saied for Agricultural Development and Construction (PSAD)’s stock edged up by 2.28% to conclude at EGP 4.03. The stock topped NILEX’s traded value as it reached EGP 460.415 thousand distributed to 114.200 thousand securities exchanged through 79 transactions. Meanwhile, the stocks which remained with no change were Utopia Real Estate Investment and Tourism (UTOP) at EGP 7.25 and Univert for Food Industries (UNFO) at EGP 0.78. More»

Egypt’s bourse has opened this week posting gains of EGP 342 million coinciding with the launch of the stamp tax on the daily selling and buying transactions. The bourse indices were wavering in green notes during Sunday morning. Benchmark EGX30 inched up by 0.16% to 5436.69 p. EGX20 also rose by 0.14% to 6259.22 p. Meanwhile, the mid- and small-cap index, the EGX70 advanced by 0.10% to 452.22 p.  Price index EGX100 increased by 0.11% to 761.57 p. The capital market has amounted to EGP 365.183 billion, according to data compiled by Amwal Al Ghad English at 11:12 a.m. Cairo time (09:12 GMT) during the opening session of Sunday. The trading volume has reached 4.657 million securities worth EGP 19.114 million, exchanged through 1.057 transactions during Sunday’s opening. Also during the opening session,  77 listed securities have been traded in; 10 declined, 21 advanced; while 46 steadied. More»

Egypt’s Central Clearing, Depository and Registry house (MCDR) will start today collecting the recently-approved stamp tax on Egyptian stock exchange’s daily buying and selling transactions. As pursuant to the recently-approved draft, the stamp tax shall be imposed on the Cairo bourse’s daily selling and buying transactions at 0.001. The stamp tax shall be also applied on the advertisements at 20%. Capital market experts alongside EG-Finance,  Division of Securities, Egyptian Capital Market Association (ECMA) and Egyptian Investment Management Association (EIMA) are urging the decision makers in Egypt to reconsider imposing the stamp tax on the bourse daily transactions amid the current sharp decline in the volumes and values of trades driven by the political and economic turbulence. They further said imposing the stamp tax on the daily transactions will increase the burden on the investors by 40-65%. Accordingly, heavier burdens will likely drive the investors to exit the market soon. More»

In a week, Egypt bourse has managed to gain EGP 630 million as the capital market reached EGP 364.841 billion on Thursday, compared to EGP 364.210 billion a week earlier. Egyptian Exchange’s benchmark EGX 30 index rose by 0.44% this week, representing an increase of 24.04 points, ending Thursday’s transactions at 5427.97 points compared to 5404 points at the end of last week. The EGX30 hit its highest point on Wednesday closing at 5455.74 points, where its lowest point recorded on Monday at 5400.76 points. Meanwhile, the mid- and small-cap index, the EGX70 fell by 0.93% closing at 451.75  points during Thursday’s session, compared to 456 points at the end of a week earlier. The price index, EGX100 dropped by 0.29% concluding by 760.72 points during Thursday’s session, compared to 763 points at the end of a week earlier. Also in a week, the EGX has recorded a volume of trades hit  366 million securities, compared to 210 million securities a week earlier; while the traded value reached EGP 1.59 billion, opposed to EGP 913.5 million a week earlier. More»

Driven by foreign selling pressures, Egypt bourse has ended this week incurring losses of EGP 847 million. The EGX indices ended on red notes during the closing session of Thursday. Egypt’s benchmark index EGX30 dropped by 0.51% to close at 5427.97 p; while the EGX20, it edged lower by 0.28% to end at 6250.48 p. Meanwhile, the mid- and small-cap index, the EGX70 fell by 0.41% to conclude at 451.75 p.  Price index EGX100 dipped by 0.34% to finish 760.72 p. The capital market has closed at EGP 364.841  billion on Thursday. During Thursday’s closing, the trading volume hit 60.625 million securities, less than Wednesday’s session of  95.610 million securities, representing a decrease of 34.985 thousand securities. For the traded value, it reached EGP 325.124 million, exchanged through 16.016 thousand transactions. During the closing session of Thursday, 169 listed securities have been traded in; 97 declined, 41 advanced; while 31 keeping their previous levels. The non-Arab foreigners’ selling pressures have driven EGX’s losses as they were net sellers seizing 13.54% of the total markets, with a net equity of EGP 21.818 million, excluding the deals. Meanwhile, Egyptians and Arabs were net buyers seizing 80.75% and 5.71% respectively, of the total markets, with a net equity of EGP 19.323 million and EGP 2.495 million excluding the deals. More»

Hisham El-Khazindar, Co-Founder and Managing Director of Citadel Capital, took part in a panel on emerging market opportunities and trends at the IFC-EMPEA annual gathering in Washington D.C, outlining the strong upside potential for sustainable, high-growth investments in Africa and the Middle East. Citadel Capital (CCAP.CA on the EGX), the leading investment company in Africa and the Middle East with US$ 9.5 billion in investments under control,took part in the 15th annual IFC Global Private Equity Conference held in association with EMPEA in Washington, D.C. on 14-16 May. Citadel Capital Co-Founder and Managing Director, Hisham El-Khazindar participated in a panel discussion entitled “A Macro Perspective: Emerging Markets Opportunities and Trends,” which featured global industry leaders with significant emerging market expertise and insights into the challenges and constraints of emerging market private equity. "In many instances a crisis situation can create opportunity,” said El-Khazindar. "Across Egypt, East Africa and North Africa, we see excellent investment opportunities in sometimes challenging countries that are in need of management expertise and capital." More»

Egypt’s bourse has opened Thursday incurring losses of EGP 137 million triggered by the news of the resignation of a senior Egyptian finance minister adviser who is involved in talks on a vital IMF loan. The bourse indices were also wavering in red notes Thursday morning. Sami Khallaf's resignation, announced on Wednesday, points to friction resulting from Brotherhood-linked appointments in the civil service. The Islamist group's sway over Prime Minister Hisham Kandil's government was increased by a reshuffle last week. Benchmark EGX30 dropped by 0.04% to 5453.76 p. EGX20 also fell by 0.03% to 6265.99 p. Meanwhile, the mid- and small-cap index, the EGX70 dipped by 0.04% to 453.42 p.  Price index EGX100 declined by 0.06% to 762.86 p. The capital market has amounted to EGP 365.551 billion, according to data compiled by Amwal Al Ghad English at 11:03 a.m. Cairo time (09:03 GMT) during the opening session of Thursday. The trading volume has reached 3.205 million securities worth EGP 15.020 million, exchanged through 823 transactions during Thursday’s opening. More»

Backed by foreign buyers, Egypt bourse has extended its gains which eventually reached EGP 1.76 billion during the closing session of Wednesday. The EGX indices ended sessions on green notes. Egypt’s benchmark index EGX30 climbed by 1.02% to close at 5455.74 p; while the EGX20, it edged higher by 1.55% to end at 6268.02 p. Meanwhile, the mid- and small-cap index, the EGX70 advanced by 0.44% to conclude at 453.61 p.  Price index EGX100 rose by 0.45% to finish 763.28 p. The capital market has closed at EGP 365.688  billion on Wednesday. During Wednesday’s closing, the trading volume hit 95.610 million securities, higher than Tuesday’s session of 89.648 million securities, representing an increase of 5.962 thousand securities. For the traded value, it reached EGP 473.076 million, exchanged through 16.939 thousand transactions. During the closing session of Wednesday, 170 listed securities have been traded in; 35 declined, 103 advanced; while 32 keeping their previous levels. Arabs and the non-Arab foreigners’ buying transactions have backed EGX’s gains as they were net buyers seizing 5.96% and 8.09% respectively, of the total markets, with a net equity of EGP 34.525 million and EGP 14.970 million excluding the deals. Meanwhile, Egyptians were net sellers seizing 85.95% of the total markets, with a net equity of EGP 49.495 million, excluding the deals. More»

The Egyptian Exchange (EGX) has posted gains of EGP 1.3 billion during the opening session of Wednesday backed by foreign buyers. Egypt bourse’s indices were wavering in green notes Wednesday morning. Benchmark EGX30 inched higher by 0.66% to 5436.54 p; while EGX20 climbed by 1.03% to 6236.03 p. Meanwhile, the mid- and small-cap index, the EGX70 also rose by 0.09% to 452.04 p.  Price index EGX100 advanced by 0.20% to 761.39 p. The capital market has amounted to EGP 365.201 billion, according to data compiled by Amwal Al Ghad English at 11:21 a.m. Cairo time (09:21 GMT) during the opening session of Wednesday. The trading volume has reached 16.362 million securities worth EGP 110.667 million, exchanged through 1.916 transactions during Tuesday’s opening. Also during the opening session,  80 listed securities have been traded in; 9 declined, 44 advanced; while 27 steadied. The non-Arab foreigners and Arabs’ have backed Egyptian bourse’s opening gains as they were net buyers seizing 15.68% and 27.84% respectively, of the total markets, with a net equity of EGP 19.459 million and EGP 49.937 million, excluding the deals. Meanwhile, Egyptians were net sellers seizing 56.49% of the total markets, with a net equity of EGP 69.397 million excluding the deals. More»

Egypt bourse has pared its morning losses which eventually reached EGP 507 million during the closing session of Tuesday. The EGX indices ended sessions on red notes, except for the EGX20. Egypt’s benchmark index EGX30 edged down by 0.31% to close at 5400.76 p; while the EGX20, it rose by 0.24% to end at 6172.15 p. Meanwhile, the mid- and small-cap index, the EGX70 fell by 0.01% to conclude at 451.63 p.  Price index EGX100 dipped by 0.19% to finish 759.84 p. The capital market has closed at EGP 363.930 billion on Tuesday. During closing, the trading volume hit 89.648 million securities, higher than Monday’s session of 60.048 million securities, representing an increase of 29.600 thousand securities. For the traded value, it reached EGP 317.020 million, exchanged through 14.070 thousand transactions. During the closing session of Tuesday, 162 listed securities have been traded in; 50 declined, 74 advanced; while 38 keeping their previous levels. Arabs and the non-Arab foreigners’ selling pressures have driven EGX’s losses as they were net sellers seizing 5.26% and 7.99% respectively, of the total markets, with a net equity of EGP 2.852 million and EGP 24.447 million excluding the deals. Meanwhile, Egyptians were net buyers seizing 86.75% of the total markets, with a net equity of EGP 27.299 million, excluding the deals. More»