EGX 30 Opens 0.40% Higher Backed By Rompuy €5 Bln Loans Remarks

The Egyptian Exchange (EGX) has opened Monday posting gains of EGP 985 million backed by the EU president’s announcement in regard to providing Egypt €5 billion in forms of loans and grants within this year . The capital market has amounted to EGP 386.883 billion, according to data compiled by Amwal Al Ghad at 11:06 a.m. Cairo time (09:06 GMT).

The EGX indices opened in green.

The main index, EGX30 inched up by 0.40% to 5724.23 p. EGX20 rose by 0.30% to 6630.44 p.

Meanwhile, the mid- and small-cap index, the EGX70 went up by 0.40% to 488.95 p.  Price index EGX100 surged by 0.38% to 825.12 p.

This was after trading in 83 listed securities; 9 declined, 43 advanced; while 31 keeping their previous levels.

During the opening session, the trading volume has reached 6.809 million securities worth EGP 25.108 million, exchanged 1.242 thousand transactions.

Arabs were net buyers during the opening session seizing 11.7% of the total markets, with a net equity of EGP 3.996 million excluding the deals.

On the other hand, Egyptians and the non-Arab foreigners were net sellers seizing  67.09% and 21.21% respectively, of the total markets, with a net equity of EGP 3.750 million and EGP 245.895 thousand excluding the deals.

Herman Van Rompuy, President of the European Council, announced on Sunday afternoon that the EU plans to  support Egypt’s economy and democratic transition through providing €5 billion in forms of outstanding loans and grants in 2013.

“The European Union and associated financial institutions have offered an amount of more than 5 billion euros, or more than $6.5 bln, in grants, concessional loans and loans for a period of 2012 and 2013 to support Egypt’s democratic transition,” Rompuy told reporters.