EGX 30 Inches Higher 0.41%, OTMT 9.26% Up; Sunday Opening

During Sunday opening session, the Egyptian Exchange (EGX) has posted early gains of EGP 846 million as the capital market has amounted to EGP 347.454 billion, according to data compiled by Amwal Al Ghad at 10:46 a.m. in Cairo (08:46 GMT).

The main index, EGX30 surged 0.41% to hit 4981.32 p.  EGX20 inched higher 0.72% to reach 5734.03 p.

Meanwhile, the mid- and small-cap index, the EGX70 edged up 0.01% to hit 444.32 p.  Price index EGX100 went up by 0.04% to reach 764.76 p.

Worth mentioning, EGX delayed Thursday’s trading session due to the power outage in the Downtown’s general electricity network. Opening session had started at 12:00 (10:00 GMT).

Traded volume reached 245.738 million securities worth EGP 488.532 million, exchanged through 50  transactions.

This was after trading in 20 listed securities; 4 declined 9 advanced while 7 keeping their previous levels.

Egyptians and non-Arab Foreigners were net buyers seizing 90.17% and 6.05% respectively, of the total markets, with a net equity of EGP 41.094 thousand and EGP 33.987 thousand excluding the deals.

On the other hand, Arabs  were net sellers seizing 3.79% of the total markets, with a net equity of EGP 75.080 thousand excluding the deals.

Leading Shares:

EGX’s leading shares witnessed collective upwards led by the shares of Orascom Telecom Media & Technology Holding (OTMT.CA) which jumped by 9.26% to hit EGP 0.59.

Talaat Moustafa Group:

The shares of Talaat Moustafa Group (TMGH.CA) climbed by 1.69% to reach EGP 4.22.

Gehad El Sawafta, Vice Executive Officer of Talaat Moustafa Group Holding SAE (TMGH.CA), announced 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) soared 1.68% to hit EGP 3.03.

Orascom Telecom Holding:

The shares of Orascom Telecom Holding (OTH) (ORTE.CA) inched higher 0.86% to reach EGP 3.53.

EFG-Hermes Holding:

The shares of EFG-Hermes Holding (HRHO.CA) surged 0.84% to hit EGP 10.76.

EFG-Hermes shareholders meeting is excepted to be reconvened within this week upon the Egyptian Financial Supervisory Authority (EFSA)’s request so as to conclude its deal with QInvest.

Mona Zulficar, EFG-Hermes Board of Directors chairperson, had announced last Tuesday that upon 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

Commercial International Bank:

The shares of Commercial International Bank- Egypt (CIB) (COMI.CA)  maintained Thursday’s levels at EGP 27.41.

Orascom Construction Industries:

Orascom Construction Industries (OCIC.CA) maintained Thursday’s levels at EGP 269.43.