Egypt Bourse Loses EGP14.4bn in Week, EGX30 Dips
In a week, Egypt’s stock Exchange (EGX) incurred losses totalling 14.4 billion Egyptian pounds. In addition, the country’s main stock index, EGX30 dipped by 0.02% in a week, with a decline of two points, ending Thursday’s transactions at 9258 points, versus 9260 points at the end of a week earlier.
The main gauge index registered its highest point on Thursday closing at 9258.18 points, whereas its lowest point recorded on Monday at 9122.33 points.
On the contrary, the mid- and small-cap index, the EGX70 soared in a week by 3.2% closing at 646 points during Thursday’s session, compared to 626 points at the end of a week earlier. The price index, EGX100 dropped by 0.9% concluding to 1115 points during Thursday’s session, against 1125 points at the end of a week earlier.
Furthermore, the market capitalization closed at EGP 525.075 billion last Thursday, compared to EGP 539.494 billion at the end of a week earlier.
Turnovers: Lower
Through the week, the trading volume hit around 792.3 million securities, compared to 958.8 million securities at the end of a week earlier. For the traded value, it reached EGP 4.4 billion against EGP 4.7 billion a week earlier.
Investors’ Activity:
Local investors led the market activity all through the week with 82.35%, followed by foreign and Arab investors with 11.56% and 6.09%, respectively, after excluding the deals.
Foreign investors were the most active buyers during the week earning the value of EGP 272.11 million, after excluding the deals.
Arab investors were to sell by value of EGP 147.13 million, after excluding the deals.
Moreover, institutions seized 53.61% of total trading through the week; while individuals attained 46.39%. Institutions were the most active buyers during the week earning the value of EGP 114.31 million, after excluding the deals.
Market Remarks
– Egypt Bourse and American University Sign MoU to Support SMEs
The Egyptian stock Exchange (EGX) signed last Monday a memorandum of understanding with School of Business Executive Education at the American University in Cairo (AUC). The agreement aims to raise the small and medium enterprises’ (SMEs) awareness about the funding crucial role played by the Egyptian bourse.
The agreement endorses bilateral cooperation in supporting and raising the awareness among the owners of the family businesses in Egypt. It stresses the EGX’s role in assisting the companies, notably the SMEs in achieving growth and developing their businesses.
From his part, Mohamed Omran – EGX Chairman highlights the bourse’s support for the SME sector, considering it an economic driving force and one of the major pillars of socio-economic development. The EGX is a pioneer in supporting the SME sector through establishing the first stock market, the Nile Stock Exchange or NILEX, whose target is to support and develop SMEs in Middle East and North Africa (MENA) region, he noted.
– Egypt Bourse Heads FEAS’ General Meetings and Executive Committee in Croatia
Egypt’s stock Exchange (EGX) announced last Tuesday that it will head the general meetings and the executive committee for the Federation of Euro-Asian Stock Exchanges (FEAS), which will take place on November 19-21st.
The Federation of Euro-Asian Stock Exchanges (FEAS) is set to hold its Annual Meetings 2014 in Zagreb, Croatia.
More than 34 stock exchanges worldwide, with captalisation surpassing US$700 billion, in addition to multiple financial institutions will take part in the FEAS’ 2014 annual meetings.
– Chairman Mohamed Omran: Egypt Bourse Finances Listed Firms with EGP11bn this Year
During 2014, Egypt’s stock Exchange (EGX) provided direct finances totalling around 11 billion Egyptian pounds (US$ 1.5 billion) for its listed companies, said chairman Mohamed Omran last Wednesday.
The EGX management held on Tuesday its first outreach programme with the members of the Egyptian Businessmen’s Association (EBA). The programme discussed EGX’s financing opportunities offered for the listed firms.
