Home StocksEGX EGX Losses EGP 2.36 Mln, EFG-Hermes Jumps 10.00% On Buyout Talks

EGX Losses EGP 2.36 Mln, EFG-Hermes Jumps 10.00% On Buyout Talks

by Yomna Yasser

Whilst Thursday’s midday trading, the EGX posted losses of EGP 2.36 billion as the capital market has reached EGP 334.518 billion at 10:37 GMT (12:37 local time).

The main index, EGX30 went down 0.87% to hit 4645 p. EGX20 inched lower 0.31% to hit 5323.72 p.

Meanwhile, the mid- and small-cap index, the EGX70 edged down 0.83% to hit 405.34 p. Price index EGX100 dived 1.03% to reach 726.62 p.

Traded volume reached 32.729 million securities worth EGP 108.518 million, exchanged through 6.323 thousand transactions.

This was after trading in 133 listed securities; 97 declined and 21 advanced while 15 keeping their previous levels.

Egyptians and non-Arab Foreigners were net sellers seizing 52.2% and 35.01% respectively, of the total markets, with a net equity of EGP 4.991 million and EGP 6.380 million, excluding the deals.

On the other hand, Arabs were net buyers seizing 13.8% of the total markets, with a net equity of EGP 11.371 million excluding the deals.

EGX’s leading shares witnessed unsteady performance. Shares of  EFG-Hermes Holding (HRHO.CA) which jumped 10.00% reaching EGP 11.66 amid receiving a buyout offer from Planet Consortium Group worth $1.2 billion.

Orascom Telecom Holding (OTH) (ORTE.CA) climbed 0.32% hitting EGP 3.10.

On the other hand, shares of Orascom Construction Industries (OCIC.CA) sank 3.09% reaching EGP 256. Orascom Telecom Media & Technology Holding (OTMT.CA) also edged down 1.53% reaching EGP 1.29. Commercial International Bank- Egypt (COMI.CA) went down 1.06% hitting EGP 24.33.

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