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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Orascom Telecom Holding (OT)   3.92        Rakta Paper Manufacturing   4.39        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Egyptian for Tourism Resorts   0.69        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Heliopolis Housing   21.65        United Housing & Development   8.93        Raya Holding For Technology An   4.57        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        National Development Bank   6.72        Six of October Development & I   15.03        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        


Egypt stock market cap hits record 1 trillion pounds in midday trade

Published 2018-04-26 12:23:52| Amwal Al Ghad English

The market capitalisation of shares listed on the Egyptian stock exchange hit at Thursday midday trade a record high of 1 trillion Egyptian pounds ($56.5 billion), the largest in its history. Traders said the market’s fundamentals looked much better on Thursday backed by the foreign investors’ buying appetite. Egypt plans to boost the value of the local bourse’s market capitalisation to reach 3 trillion pounds by 2021, Minister of Finance Amr al-Garhy announced earlier in January.
Strong global markets may give Gulf bourses an upward bias on Sunday, although moderate trading volumes in recent days suggest any gains may not be large. The Dow Jones Industrial Average rose 1.39 percent on Friday while Brent oil climbed on the last two days of the week, closing at $67.31 a barrel. Among corporate earnings announcements, Saudi Kayan Petrochemical swung to a fourth-quarter loss of 220 million riyals ($58.7 million) because of scheduled maintenance at its plants. That was larger than the 90 million riyal loss forecast by SICO Bahrain but much smaller than the 417 million riyal loss predicted by NCB Capital. Abdulmohsen Al Hokair Group for Tourism and Development may see selling after reporting that annual net profit shrank to 8.7 million riyals from 126.3‍ million riyals; it cited​ low demand from individuals and corporates due to a decline in state spending and private sector demand for conferences. The figures implied a 23.1 million riyal loss in the fourth quarter. Dubai’s DP World said late on Thursday that it would take legal action after Djibouti ended a contract with the company to run its Doraleh Container Terminal, a move which DP World called an illegal seizure. DP World did not give an estimate of the financial impact but the news may have little effect on its share price, as Djibouti was only a small part of its large and diversified global portfolio.
Asian markets were mixed in late morning trade on Thursday, following modest gains on Wall Street, where the Dow closed higher for the first time in six sessions. In Japan, the Nikkei 225 added 0.59 percent, while the Topix traded near flat. Across the Korean Strait, the Kospi was up 1.39 percent. But Greater China markets were down in late morning trade. The Shanghai composite lost 1 percent and the Shenzhen composite shed 1.34 percent, with losses seen in most sectors including banks, property and autos. Hong Kong's Hang Seng Index slid 0.62 percent, with declines in banks and tech. Australia's ASX 200 was near flat after the market was closed on Wednesday for a public holiday. The heavily-weighted financial sector was down 0.55 percent and major banking stocks fell — shares of Westpac fell 1.51 percent while ANZ was down 0.55 percent, Commonwealth Bank was down 0.65 percent and the National Australia Bank lost 0.41 percent. In earnings news, South Korean tech giant Samsung announced first quarter results. The largest smartphone vendor posted an operating profit of 15.64 trillion Korean won ($14.45 billion) for the three months ended March — in line with an earlier estimate and a 58 percent on-year jump. Samsung's consolidated revenue came in at 60.56 trillion won. The company said its first-quarter revenue was mainly driven by its memory chips business and the increased sales of its flagship smartphones such as the Galaxy S9. Overnight, U.S. government debt yields continued their upward climb with the rate on the 10-year Treasury note edging above the 3 percent it hit Tuesday for the first time since 2014. "This has supported a further rise in the U.S. dollar with the narrow [dollar index] now above 91 and so above the range in which it has been confined since mid-January," Ray Attrill, head of foreign-exchange strategy at the National Australia Bank, wrote in a morning note. The dollar index measures the greenback against a basket of major currencies. It last traded at 91.173 as of 8:23 a.m. HK/SIN, climbing from levels below 90.600 earlier in the week. Elsewhere, the Japanese yen traded at 109.32 against the dollar, weakening from levels below 108.0 reached in the previous week. The Australian dollar traded at $0.7571 while the euro fetched $1.2171. Oil rose overnight despite data showing a rise in U.S. inventories as traders turned their attention toward geopolitical developments. "Oil prices rose as traders focused on French President [Emmanuel] Macron's attempts to broker a new nuclear agreement between the U.S. and Iran," David Plank from ANZ Research wrote in a morning note. U.S. crude gained 35 cents to $68.05 a barrel while global benchmark Brent added 14 cents to $74. In other news, major companies in Japan, China and South Korea are set to announce their quarterly earnings. That includes Nintendo and China Construction Bank.