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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        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        Six of October Development & I   15.03        National Development Bank   6.72        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        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Egyptian Transport (EGYTRANS)   7.85        Sharkia National Food   3.78        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        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        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        

EGX

Home appliance maker Unionaire plans Egypt, Europe IPO in H1-2018


Published 2017-10-18 18:27:02| Hisham Ibrahim

Egyptian home appliances maker Unionaire Group plans for public offering in Egypt and Europe in the first half of 2018, sources with direct knowledge told Amwal Al Ghad Wednesday. The company seeks to sell some of its shares in the local stock market and in one of the European bourses, aimed at financing its future expansions and investments. “We are cooperating now with an investment bank to advise on the floatation and give technical assessment.” the sources added but declined to disclose the name of the investment bank. Unionaire is looking to develop a TV factory for the production of open cell displays with a 65 percent local components by early June 2018, the sources further told Amwal Al Ghad.
Arab
Saudi bank shares could be buoyed on Thursday by better than expected third-quarter earnings from Riyad Bank, the kingdom’s fourth-largest bank by assets. Investors are awaiting results from Saudi Arabia’s other lenders after Riyad Bank reported a 47.7 percent rise in profit as income from investments and fees and commission rose. The positive results follow Saudi’s Alinma Bank on Sunday beating analysts’ estimates with a 3 percent profit rise. Qatar bank stocks will also be in focus after Qatar Islamic Bank (QIB), the Gulf state’s largest sharia-compliant lender by assets, reported a 10.9 percent jump in third-quarter net, in line with analysts’ forecasts. Results on Thursday included Saudi Kayan Petrochemical Co. , which reported a 140.9 percent rise in third-quarter profit to 381.0 million riyals, and Saudi Automotive Services Co , which posted a 36.6 percent profit rise to 9.1 million riyals. Asian stocks rose to near decade highs on Thursday, while oil prices were stable, supported by ongoing OPEC-led supply cuts.
World
Wall Street hit record closing highs on Friday and the S&P 500 posted a sixth week of gains after the U.S. Senate passed a budget resolution, lifting hopes that President Donald Trump’s tax-cut plan may move forward. Shares of General Electric (GE.N) reversed an early drop of 6.3 percent to end 1.1 percent higher, and the S&P industrials index .SPLRCI also finished up 1.1 percent. The company’s new chief executive vowed to shed more than $20 billion worth of assets after the company’s quarterly results badly missed Wall Street’s expectations. The Senate’s approval late Thursday of a 2018 budget blueprint could pave the way for Republicans to pursue a tax-cut package without Democratic support. “It’s just a reaction to the thought that just maybe there might be something coming from Congress in the way of tax reform,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Everybody had kind of given up hope, and after the comments over the last 24 hours, people are like, shoot, this may actually happen.” Stocks rallied following the November election of Trump, partly on his promises to cut taxes and reduce regulations. The S&P index of financials .SPSY, which are expected to benefit from the administration’s proposed policies, rose 1.2 percent and its components were among the day’s best performers. The small-cap Russell 2000 index gained 0.5 percent. Small-cap companies are likely to get a boost from tax reform. The Dow Jones Industrial Average .DJI rose 165.59 points, or 0.71 percent, to end at 23,328.63, the S&P 500 .SPX gained 13.11 points, or 0.51 percent, to 2,575.21 and the Nasdaq Composite .IXIC added 23.99 points, or 0.36 percent, to 6,629.05. All three indexes posted all-time closing highs, extending their recent run of records, and the Dow, which broke above 23,000 this week, rose 2 percent for the week. The Dow also registered a sixth week of gains while the Nasdaq posted its fourth. The S&P 500 was up 0.9 percent for the week while the Nasdaq added 0.4 percent. Some investors saw little reason to worry about the extended climb. “This has been a healthy advance. It has been a slow, steady grind upward. There’s been extraordinarily low volatility,” said Hank Smith, co-chief investment officer at Haverford Trust in Radnor, Pennsylvania. Investors continue to monitor news on potential candidates for the Federal Reserve chair position. Boosting stocks late Thursday, Politico reported Fed Governor Jerome Powell is the leading candidate to become Trump’s nominee, which many would consider a continuation of the current stock market-friendly monetary policy. Trump said in an interview with Fox Business Network on Friday he was considering tapping both Powell and Stanford University economist John Taylor for the central bank’s top two posts. Also on the earnings front, PayPal’s stock (PYPL.O) rose 5.5 percent after upbeat earnings. The pace of third-quarter reports should pick up next week, with results from Caterpillar (CAT.N) and other big names. Advancing issues outnumbered declining ones on the NYSE by a 1.55-to-1 ratio; on Nasdaq, a 1.58-to-1 ratio favored advancers. About 6.2 billion shares changed hands on U.S. exchanges. That compares with the 5.9 billion daily average for the past 20 trading days, according to Thomson Reuters data.