During Tuesday early session, the Egyptian Exchange (EGX) has posted early gains of EGP 1.81 billion as the capital market has amounted to EGP 367.161 billion, according to data compiled by Amwal Al Ghad at 11:02 a.m. Cairo time (09:02 GMT).
The main index, EGX30 rose by 0.73% to hit 5320.11 p. EGX20 climbed by 1.02% to reach 6232.22 p.
Meanwhile, the mid- and small-cap index, the EGX70 surged by 1.08% to hit 489.16 p. Price index EGX100 inched higher by 0.48% to reach 825.88 p.
Traded volume reached 12.174 million securities worth EGP 84.109 million, exchanged 2.394 thousand transactions.
This was after trading in 104 listed securities; 9 declined 90 advanced while 5 keeping their previous levels.
The main reason behind EGX30’s upwards was that Egyptians were net buyers 40.13% of the total markets, with a net equity of EGP 14.771 million excluding the deals.
On the other hand, non-Arab Foreigners and Arabs were net sellers seizing 52% and 7.87% respectively, of the total markets, with a net equity of EGP 9.498 million and EGP 5.272 million excluding the deals.
Leading Shares:
EGX’s leading shares witnessed collective upwards led by the shares of Orascom Telecom Media & Technology Holding (OTMT.CA) which jumped by 8.62% to hit EGP 0.63.
Citadel Capital:
Citadel Capital (CCAP.CA) climbed by 1.52% to reach EGP 3.34.
Commercial International Bank:
The shares of Commercial International Bank- Egypt (CIB) (COMI.CA) soared by 1.29% to reach EGP 29.90.
EFG-Hermes Holding:
Shares of EFG-Hermes Holding (HRHO.CA) surged by 1.11% to hit EGP 11.87.
EFG-Hermes said Sunday it will announce the date of its extraordinary shareholders meeting with a week. EFG-Hermes added that its ESM aims to provide its shareholder with all the disclosures and details; QInvest buyout deal in particular regarding the acquisition of 60% of Hermes stakes.
EFG-Hermes official source noted that once the group obtains the shareholders’ approvals, all the necessary procedures to conclude QInvest acquisition deal would be then completed.
Dr. Ashraf Al-Sharkawy, the chairman of Egyptian Financial Supervisory Authority (EFSA), had stated that EFG-Hermes did not provide the required information and further disclosures including the fate of minority rights after the deal is completed as well as the financial mechanism regarding dividend distribution.
Al-Sharkawy noted that the EFSA has asked EFG-Hermes for more disclosures including the future of the group, its capital and fate of its minority, but it did not respond yet.
Orascom Construction Industries:
Orascom Construction Industries (OCIC.CA) rose by 0.70% to reach EGP 278.00.
Talaat Moustafa Group:
Talaat Moustafa Group (TMGH.CA) inched higher by 0.65% to end at EGP 4.66.
Orascom Telecom Holding:
Orascom Telecom Holding (OTH) (ORTE.CA) maintained Monday’s closing levels at EGP 3.60.
