amwalalghad :: EGX 30 Hikes 1.50%, OCI 3.17% Up Ahead of Cabinet Formation Announcement

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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 30 Hikes 1.50%, OCI 3.17% Up Ahead of Cabinet Formation Announcement

Published Wednesday, 01 August 2012 14:15 | Written by Amwal Al Ghad

During Wednesday closing session, the Egyptian Exchange (EGX) has posted gains EGP 4.3 billion as the capital market has amounted to EGP 344.199 billion.

The new cabinet appointed by PM Hisham Kandil is to be both announced and sworn in on Thursday before President Mohamed Morsi, says the presidential spokesperson, Yasser Ali.

The spokesman also revealed that the members of the presidential team - a consultative body that is intended to be politically and socially inclusive - will also be announced on Thursday.

Ali confirmed that President Morsi and PM Kandil had agreed to make both announcements on the same day.

Kandil had declared on Monday that he had formed over 70% of the new government. He added that he had not yet settled on a deputy prime minister for economic affairs.

Kandil announced that his government will be technocratic, rather than political and that he will base his choices on merit. His statement again raised skepticism as expectations were that the new government will be a coalition government, representing the different political parties.

The main index, EGX30 soared 1.50% to finish at 4935.59 p.  EGX20 climbed 1.10% to close at 5650.56 p.

Meanwhile, the mid- and small-cap index, the EGX70 jumped by 2.08% to conclude at 445.65 p.  Price index EGX100 soared 2.01% to end at 765.88 p.

Traded volume reached 192.723 million securities worth EGP 348.945 million, exchanged through 18.803 transactions.

This was after trading in 168 listed securities; 65 declined 79 advanced while 24 keeping their previous levels.

Egyptians and Arabs  were net sellers seizing 69.53% and 8.2% respectively, of the total markets, with a net equity of EGP 7.351 million and EGP 32.887 million excluding the deals.

On the other hand, non-Arab Foreigners were net buyers seizing  22.27% of the total markets, with a net equity of EGP 40.238 million excluding the deals.

Leading Shares:

EGX’s leading shares witnessed collective upwards except for the shares of Orascom Telecom Media & Technology Holding (OTMT.CA) which tumbled by 5.17% to finish at EGP 0.55 and of Citadel Capital which maintained Tuesday levels at EGP 3.01.

Orascom Construction Industries:

Shares of Orascom Construction Industries (OCIC.CA) led EGX upwards as they climbed by 3.17% to conclude at EGP 269.93.

Commercial International Bank:

The shares of Commercial International Bank- Egypt (CIB) (COMI.CA) hiked 1.61% to end at EGP 27.82.

EFG-Hermes Holding:

The shares of EFG-Hermes Holding (HRHO.CA) soared 0.65% to conclude at EGP 10.81.

Mona Zulficar, EFG-Hermes Board of Directors chairperson, had announced Tuesday that upon the Egyptian Financial Supervisory Authority (EFSA)’s request, EFG-Hermes will be reconvening its shareholders’ annual meeting within a week or a maximum of 10 days.

“During this meeting, we will provide some additional more detailed disclosures on the QInvest deal and the fate of the minority’s rights after signing the deal … we don’t have something to hide behind the scenes.”Zulficar added

Referring to QInvest deal, Zulficar said: “The main reason behind signing this deal with QInvest is the decline in the profits of Securities Brokerage and Asset Management due to the current circumstances.”

“The deal has been signed on the purpose of ensuring shareholders’ interests.”

Additionally, she mentioned that after receiving EFSA’s approvals beside of other regulators in Arab countries where Hermes has activities, it is expected that QInvest deal will be concluded by the end of the third quarter of 2012.

Talaat Moustafa Group:

The shares of Talaat Moustafa Group (TMGH.CA) surged 0.50% to close at EGP 4.05.

The court considered Monday, July 30th, the appeal filed by Chairman Tarek Talaat Moustafa to the six-month imprisonment sentence issued in a case lodged by a buyer who accused him of selling a residential unit to several parties at the same time.

Talaat Moustafa Group (TMG) had earlier commented on this sentence, stating that the ruling is 'unenforceable' and will be challenged. The realty developer added that Moustafa is not criminally responsible either personally or in his capacity as the group's chairman.

Orascom Telecom Holding:

The shares of Orascom Telecom Holding (OTH) (ORTE.CA) went up by 0.31% to finish at EGP 3.23.

Deutsche Bank (DB) raised Orascom Telecom's price estimate to $3.20 from $3, recommending 'Hold'.

Egyptian Business tycoon Naguib Sawiris denied Tuesday any financial dealing with Mohammed Rashid, the advisor of late Palestinian President Yasser Arafat in his personal capacity.

Rashid was the manager of Palestine Investment Fund (PIF) that undertook investments with Orascom for two and a half years. Yet, the contract between PIF and Orascom ended several years ago.

Sawiris added in a press statement that he does not have any financial dealing with Mohammed Dahlan, a leading figure in Fatah Movement.

Press news was issued Monday that Public Prosecutor in the West Bank Ahmed Al-Moghni requested on behalf of the Palestinian Authority business tycoon Naguib Sawiris to suspend trading on the shares owned in Orascom Telecom Holding (OTH) (ORTE.CA) by Mohammed Rashid, the advisor of late President Yasser Arafat, as well as Mohammed Dahlan, a leading figure in Fatah Movement.

In a letter sent to Sawiris, Al-Moghni said that his request is based on a ruling issued by anti—corruption court, dated June 7, 2012, in case No. 2012/13.

In the same vein, Dr. Mohammed Omran, Chairman of the Egyptian Exchange (EGX), denied receiving any requests from national or overseas authorities to freeze equities owned in EGX-listed companies by current or former Palestinian officials.

Omran added that the share freeze decisions must be issued by competent authorities such as Egypt’s Public Prosecutor, the Illicit Gains Authority, the Egyptian Financial Supervisory Authority (EFSA), or sovereign entities.

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