During Sunday opening session, the Egyptian Exchange (EGX) has posted early losses of EGP 36 million as the capital market has amounted to EGP 397.694 billion, according to data compiled by Amwal Al Ghad at 11:05 a.m. Cairo time (09:05 GMT).
EGX indices opened mixed.
The main index, EGX30 slumped by 0.22% to hit 5790.16 p. EGX20 fell by 0.18% to reach 6770.5 p.
Meanwhile, the mid- and small-cap index, the EGX70 rose by 0.11% to hit 533.94 pts. Price index EGX100 inched lower by 0.12% to reach 882.49 p.
Traded volume reached 14.691 million securities worth EGP 28.844 million, exchanged through 1.804 thousand transactions.
This was after trading in 85 listed securities; 27 declined 26 advanced while 32 keeping their previous levels.
EGX’s early losses were driven by the Egyptians and non-Arab Foreigners’ selling deals.
Egyptians and non-Arab Foreigners were net sellers seizing 81.54% and 9.44% respectively, of the total markets, with a net equity of EGP 778.535 thousand and EGP 2.166 million excluding the deals.
On the other hand, Arabs were net buyers seizing 9.02% of the total markets, with a net equity of EGP 2.944 million excluding the deals.
Leading Shares:
EGX’s leading shares witnessed unsteady performance.
Orascom Telecom Media & Technology Holding:
Trading has been suspended for Orascom Telecom Media & Technology Holding (OTMT.CA)’s stock dropped by 1.67 to reach EGP 0.59.
Orascom Construction Industries:
Orascom Construction Industries – OCI (OCIC.CA)’s stock inched lower by 0.93% to hit EGP 266.00.
EFG-Hermes:
EFG-Hermes Holding (HRHO.CA) went down by 0.41% to hit EGP 12.08.
Citadel Capital:
Citadel Capital (CCAP.CA)’s stock hiked by 0.48% to reach EGP 4.18.
Orascom Telecom Holding:
Orascom Telecom Holding (OTH) (ORTE.CA) maintained with no change at EGP 3.74.
Orascom Telecom Holding and its Russian parent Vimpelcom have agreed to provide one another with technical and commercial services to improve the efficiency of their businesses, Orascom said on Sunday.
Orascom said it was changing its name to Global Telecom Holding SAE after Vimpelcom took control of the Egyptian company last year in a deal worth around $6 billion.
It further added that Orascom planned to take control of Canada’s Globalive Investment Holding Corp. after changes to Canada’s foreign ownership laws. The change requires the approval of Canadian investment authorities, expected by early next year.
