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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        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        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        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        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        


Egyptian stocks expect 2018's worst fall following Dow Jones plunge

Published 2018-02-07 07:16:41| Amwal Al Ghad English

Egypt's stocks closed in red on Tuesday following a sharp fall in the Dow Jones and the European stock market since Friday. The market capital lost 15 billion pounds, the worst since the start of this year, closing at 841.2 billion pounds. The main EGX30 securities index dropped by 1.63 percent to 14717.98 points, while the equally weighted EGX50 dropped by 2.37 percent, reaching 2597.22 points. The EGX20 capped index saw a decrease of 1.39 percent to 14417.29 points. The small and medium enterprises EGX70 dropped by 2.44 percent to 838.61. All-embracing EGX100 decreased by 1.99 percent, registering 2010.22 points. World stock markets continued a steep decline for a fourth day running on Tuesday, seeing higher interest rates and overcooked valuations wipe $4 trillion off what just eight days ago had been record highs. Europe's main bourses were down around 2.5 percent, and Wall Street futures also pointed to more losses as "fear gauges" of market volatility leapt to their highest level since a surprise devaluation of China's currency in 2015. The Dow's plunge on Monday set off global shock waves. Japan's Nikkei 225 fell 4.73 percent on Tuesday and China's Shanghai SE Composite Index was down 3.35 percent. In the biggest global sell-off since 2016, financial markets from Asia to Europe to the United States were rocked primarily by concerns about inflation.
The global market environment is positive for Gulf stock markets on Thursday although mostly lacklustre corporate earnings in the region may limit any strength in stocks. MSCI’s broadest index of Asia-Pacific shares outside Japan is up 1.3 percent after a similar rise by Wall Street overnight, and Brent oil has recovered a little of its big losses in recent weeks, trading at $64.84 per barrel. Corporate earnings, however, are largely mediocre. Dubai’s Union Properties reported an annual net loss of 2.38 billion dirhams ($649 million) compared to a year-earlier profit of 211.4 ‍​million dirhams; the figures imply a fourth-quarter loss of roughly 90 million dirhams. United Arab Emirates telecommunications firm Etisalat reported a 12 percent fall in fourth-quarter profit to 1.97 billion dirhams, according to Reuters calculations; SICO Bahrain had forecast 2.21 billion dirhams. However, Abu Dhabi’s Aldar Properties proposed a 12 fils per share dividend for 2017, up from 11 fils in 2016. And in Kuwait, Burgan Bank may attract some interest after recommending a 7 percent cash dividend and 5 percent bonus share dividend; for 2016, it had paid a 5 percent cash dividend and 5 percent bonus shares.
Equities in Europe closed slightly higher on Friday afternoon as investors reacted to earnings and waited for a report from the Federal Reserve. The pan-European Stoxx 600 closed 0.23 percent to the upside with major bourses and sectors moving in different directions. Retail was the biggest loser Friday afternoon, with Zara-owner Inditex struggling at the bottom of the sector. It fell further in afternoon trade, closing 7 percent lower following reports Thursday that it is to run-down its Irish-based web unit. The automotive sector was also in the red, dropping in afternoon trade to close 0.74 percent lower. Valeo closed over 11 percent down after reporting its 2017 full-year numbers, leaving it founder at the bottom of the European benchmark. By contrast, telecoms rallied Friday afternoon, ending the day over 2 percent higher. BT pulled up the sector, rising over 5 percent following news that regulators will cap the price the telecoms firm can charge its rivals for using its fast broadband service. Looking across the European benchmark, engineering firm Subsea 7 closed near the top, up 7.4 percent after announcing a joint venture with oilfield services company Schlumberger. Meanwhile, RBS closed 4.9 percent lower despite posting its first full-year profit in a decade. The state-owned lender reported a loss in its fourth-quarter of 583 million pounds ($812.5 million). Aberdeen Standard Life's shares swung in afternoon trade, finishing the day roughly 2.5 percent lower. The insurer's stock had been trading higher earlier in the day on the announcement of the sale of its insurance business for £3 billion ($4.18 billion) to Phoenix Group. In the U.S., stocks rose Friday but were still set to post a weekly loss. The Dow Jones industrial average climbed 157 points in mid-morning trade, while the S&P 500 gained 0.7 percent, with technology and utilities both performing best. The U.S. Federal Reserve's monetary policy report was out Friday morning, citing an economy past full employment — though it gave little guidance on future interest rate rises.