EGX 30 Ends Below 5790 Pts Ahead Of Eid Al-Adha Holidays
During Wednesday closing session, the Egyptian Exchange (EGX) has extended its midday gains which eventually reached EGP 5.07 billion as the capital market has amounted to EGP 397.913 million.
The EGX indices closed in green.
The main index, EGX30 soared by 1.63% to end at 5793.15 p. EGX20 climbed by 1.73% to close at 6790.87 p.
Meanwhile, the mid- and small-cap index, the EGX70 hiked by 1.80% to conclude at 541.51 pts. Price index EGX100 surged by 1.66% to finish at 889.48 p.
It is worth noting that the EGX will suspend trading on Sunday due to the Eid Al-Adha Muslim holidays. The EGX will resume trading by Monday.
Traded volume reached 214.016 million securities worth EGP 585.913 million, exchanged 31.135 thousand transactions.
This was after trading in 178 listed securities; 20 declined 139 advanced while 19 keeping their previous levels.
EGX’s closing gains were backed by Egyptians as well as the non-Arab foreigners’ buying transactions.
Egyptians and non-Arab Foreigners were net buyers 74.21% and 15.77% respectively, of the total markets, with a net equity of EGP 7.591 million and EGP 11.935 million excluding the deals.
On the other hand, Arabs were net sellers seizing 10.02% of the total markets, with a net equity of EGP 19.526 million excluding the deals.
Leading Shares:
EGX’s leading shares witnessed upwards.
Orascom Telecom Media & Technology Holding:
Orascom Telecom Media & Technology Holding (OTMT.CA)’s stock jumped by 5.08% to finish at EGP 0.62.
LINKonLINE, a subsidiary of Orascom Telecom Media & Technology Holding (OTMT.CA), announced the acquisition of Arabia.com on Monday.
Upon this acquisition, LINKonLINE will be able to support the portal’s Arabic content through focusing on exclusive and diverse content – from sport to technology, autos news and leisure.
Citadel Capital:
Citadel Capital (CCAP.CA)’s stock hiked by 2.20% to conclude at EGP 4.19.
Orascom Construction Industries:
Orascom Construction Industries – OCI (OCIC.CA)’s stock pushed up by 1.47% to close at EGP 263.14.
Omar Darwazah, Investor Relations Manager at Orascom Construction Industries (OCI) said that the meeting between his company and the Tax Authority was postponed till after Eid ul-Adha vacation.
OCI faces a tax inquiry from the Tax Authority related to a supposed unpaid tax liability from 2007.
EFG-Hermes:
EFG-Hermes Holding (HRHO.CA) surged by 1.43% to finish at EGP 12.07.
Orascom Telecom Holding:
Orascom Telecom Holding (OTH) (ORTE.CA) stock witnessed no change to end at EGP 3.75.
Orascom Telecom invited shareholders to attend ordinary and extraordinary general meetings on Monday, November 12, 2012, at 3:00 p.m. and 4:00 p.m. respectively.
Shareholders will look into endorsing the service agreement inked with VimpelCom. They will also discuss dropping the unpaid returns from the loan owed by Globalive Wireless Management.
Meanwhile, the extraordinary general meeting (EGM) will discuss approving the rebranding of the company to Global Telecom Holding, and amending article No. 2 of Articles of Incorporation accordingly.
