EGX 30 0.85% Up, EFG-Hermes Soars 3.18%; Thursday Closing

During Thursday closing session, the Egyptian Exchange (EGX) has extended posting gains to EGP 2.83 billion as the capital market has amounted to EGP 356.656 billion.

The main index, EGX30 went up by 0.85% to close at 5163.53 p.  EGX20 jumped 1.19% to finish at 5989.17 p.

Meanwhile, the mid- and small-cap index, the EGX70 edged up 0.98% to end at 454.33 p.  Price index EGX100 rose by 0.98% to conclude at 784.12 p.

Traded volume reached 179.321 million securities worth EGP 458.399 million, exchanged through 22.237 transactions.

This was after trading in 176 listed securities; 31 declined 125 advanced while 20 keeping their previous levels.

Egyptians were net sellers seizing 72.71% of the total markets, with a net equity of EGP 15.522 million excluding the deals.

On the other hand, non-Arab Foreigners and Arabs were net buyers seizing 17.96% and 9.32% respectively, of the total markets, with a net equity of EGP 4.279 million and EGP 11.242 million excluding the deals.

Leading Shares:

EGX’s leading shares witnessed unsteady performance.

EFG-Hermes Holding:

Shares of EFG-Hermes Holding (HRHO.CA) led EGX upwards as they jumped by 3.18% to end at EGP 11.36.

Egyptian investment bank EFG-Hermes Holding (HRHO.CA) has announced its net profits for the second quarter of 2012 hitting EGP 27 million, 23% down, compared to last year’s net profits of EGP 35 million.

Total operating revenues during Q2/2012 rose 10% to EGP 477 million, compared to EGP 466 million during Q2/2011. Operation profits, after excluding total operation expenses, slumped to EGP 146 million during Q2/2012, compared to EGP 167 million during Q2/2011.

Total brokerage revenues dipped by 20% to $4.677 million during Q2/2012, compared to $5.682 million during Q2/2011.

Orascom Telecom Media & Technology Holding:

Shares of Orascom Telecom Media & Technology Holding (OTMT.CA) climbed by 1.79% to finish at EGP 0.57 after its main shareholder Naguib Sawiris sold a stake in Russian group Vimpelcom , settling his holding company’s debts.

The move could leave Sawiris freer to focus on new investment opportunities, using OTMT as a vehicle for that growth.

OTMT announced Wednesday net profits of EGP 4.571 billion since its inception till the end of the first half of 2012 that ended 30/06/2012.

Talaat Moustafa Group:

The shares of Talaat Moustafa Group (TMGH.CA) rose by 0.69% to close at EGP 4.40.

Gehad El Sawafta, Vice Executive Officer of Talaat Moustafa Group Holding SAE (TMGH.CA), announced Sunday that the company has succeeded in selling around 50 % of its commercial malls in Madinaty during May and June with total value of about EGP 500 million.

He added that, the company succeeded in increasing its sales in the first half of 2012 to reach EGP 2.4 billion, compared to EGP 1.1 billion in the first half of 2011.

Furthermore, he pointed out that the company will focus within the coming period to deliver the remaining units.

Citadel Capital:

Shares owned by Citadel Capital (CCAP.CA) edged up by 0.65% to finish at EGP 3.12.

Orascom Construction Industries:

Orascom Construction Industries (OCIC.CA) surged by 0.56% to close at EGP 274.56.

Commercial International Bank:

The shares of Commercial International Bank- Egypt (CIB) (COMI.CA) inched higher by 0.31% to conclude at EGP 28.69.

Egypt’s Commercial International Bank (CIB) (COMI.CA) reported Wednesday an 18 percent increase in second-quarter net income on Tuesday, above the expectations of analysts who say the country’s lenders are benefiting from soaring yields on government debt.

Net profit at the country’s biggest privately owned bank by assets was 523 million Egyptian pounds ($86.17 million), above the 443 million it reported for the same period a year earlier and an analyst consensus forecast of 505 million.

Orascom Telecom Holding:

Orascom Telecom Holding (OTH) (ORTE.CA) slumped 0.27% to hit EGP 3.65.