During Thursday opening session, the Egyptian Exchange (EGX) has it posted early losses of EGP 646 million as the capital market has amounted to EGP 411.566 billion, according to data compiled by Amwal Al Ghad at 11:07 a.m. Cairo time (09:07 GMT).
EGX indices opened mixed.
The main index, EGX30 fell by 0.33% to hit 5949.9 p. EGX20 inched lower by 0.18% to reach 7012.12 p.
Meanwhile, the mid- and small-cap index, the EGX70 rose by 0.19% to hit 575.12 pts. Price index EGX100 went up by 0.04 % to reach 941.56 p.
Traded volume reached 15.393 million securities worth EGP 56.334 million, exchanged through 2.993 thousand transactions.
This was after trading in 177 listed securities; 61 declined 97 advanced while 19 keeping their previous levels.
EGX’s early losses were backed by the non-Arab Foreigners selling pressures.
Egyptians and Arabs were net buyers seizing 84.19% and 6.59% respectively, of the total markets, with a net equity of EGP 4.465 million and EGP 273.030 thousand excluding the deals.
On the other hand, non-Arab Foreigners were net sellers seizing 9.22% of the total markets, with a net equity of EGP 4.738 million excluding the deals.
Leading Shares:
EGX’s leading shares witnessed unsteady performance during early trading.
Orascom Telecom Media & Technology Holding:
Orascom Telecom Media & Technology Holding (OTMT.CA) maintained with no change at EGP 0.56.
Citadel Capital:
Citadel Capital (CCAP.CA) dived by 2.54% to reach EGP 4.60.
ASEC Engineering, a portfolio company of ASEC Holding, has won Wednesday a second 10-year contract for the technical management of Misr Qena Cement, one of Egypt’s leading producers of cement.
Citadel Capital (CCAP.CA), private equity firm in the Middle East and Africa with $9.5bn in investments under control, announced that a key subsidiary of platform company ASEC Holding has signed a technical management agreement with Misr Qena Cement (MCQE.CA)for a second 10-year period.
“We are very pleased to have won renewal of this contract, as we feel that this is a clear endorsement of 10 years’ hard work by ASEC Engineering in Qena,” said ASEC Engineering Chief Executive Officer Mohamed Galal Yakout.
“We are looking forward to another decade of providing outstanding service to a trusted business partner,” he added.
The award was the result of a limited closed-envelope tender. ASEC Engineering provides technical management services for 12 kilns with a total output of c.16 million tons of clinker per year. Two of the production lines that ASEC Engineering manages are outside Egypt, namely in Syria and Jordan.
Orascom Construction Industries:
Orascom Construction Industries (OCIC.CA) dropped by 0.80% to reach EGP 289.99.
Orascom Telecom Holding:
Orascom Telecom Holding (OTH) (ORTE.CA) inched lower by 0.78% to reach EGP 3.83.
EFG-Hermes:
EFG-Hermes Holding (HRHO.CA) tumbled by 0.50% to hit EGP 12.00.
