EGX 30 Ends Monday At 5197 Pts Weighed By Prosecutor’s Freezing Assets Decree

The Egyptian Exchange (EGX) has ended Monday’s session posting humble gains of EGP 657 million driven by the prosecutor general’s travel ban and assets freeze decrees against 21 businessmen; 5 Saudis and 2 Emiratis alongside a number of officials in the Al Watany Bank of Egypt and EGX amid the accusations of involvement in stock manipulation case.

The capital market has reached to EGP 361.213 billion during Monday’s closing session.

The names of the 21 businessmen include the EFG-Hermes Chief Executives Hassan Heikal and Yasser El-Mallawany, the AWB Chairman Ayman Sulaiman, Owner of City Stars Complex in Cairo Abdul Rahman Al Sharbatly, Hisham El-Sewedy, besides some of the largest retail investors in the EGX.

The EGX indices ended Sunday in light red notes.

Egypt’s benchmark index EGX30 fell by 0.23% to close at 5197.07 p; while EGX20 inched down by 0.66% to end at 6157.63 p.

Meanwhile, the mid- and small-cap index, the EGX70 dropped by 0.38% to conclude at 456.71 pts.  Price index EGX100 went down by 0.18% to finish at 759.46 p.

During  Monday’s closing, the trading volume hit 85.911 million securities, higher than Sunday’s 51.660 million securities, representing an increase of 34.251 thousand securities. For the traded value, it reached EGP 255.120 million, exchanged 15.297 thousand transactions.

This was after trading in 164 listed securities; 104 declined, 29 advanced; while 31  keeping their previous levels.

Egyptians and Arabs were net buyers seizing 63.21% and 6.34% respectively, of the total markets, with a net equity of EGP 14.258 million and EGP 3.720 million excluding the deals.

Meanwhile, the non-Arab foreigners were net sellers seizing 30.45% of the total markets, with a net equity of EGP 17.978 million excluding the deals.

For the leading EGX-listed firms’ stocks, EFG-Hermes’ stock plunged by 1.28% to end at EGP 10.81.

EFG-Hermes Holding (HRHO.CA) said the Egyptian prosecutor general’s decree on freezing assets of its chief executives Hassan Heikal and Yasser El-Mallawany is not related to the firm’s funds or assets and will not affect the progress of its operations, equities, assets or liabilities.

The Prosecutor General Talaat Abdullah ordered late Sunday the freezing of assets of 23 businessmen involved in stock market manipulation in the case of Al Watany Bank of Egypt (AWB).