EGX 30 Opens Above 5700 Pts, EFG-Hermes Shares 10.00% Up
During Wednesday opening session, the Egyptian Exchange (EGX) has posted early gains of EGP 2.22 billion as the capital market has amounted to EGP 395.132 billion, according to data compiled by Amwal Al Ghad at 10:57 a.m. Cairo time (08:57 GMT).
The main index, EGX30 soared by 1.10% to hit 5760.03 p. EGX20 climbed by 1.49% to reach 6789.22 p.
Meanwhile, the mid- and small-cap index, the EGX70 hiked by 0.90% to hit 549.39 pts. Price index EGX100 rose by 0.69% to reach 910.27 p.
Traded volume reached 5.809 million securities worth EGP 31.912 million, exchanged 1.813 thousand transactions.
This was after trading in 107 listed securities; 23 declined 74 advanced while 10 keeping their previous levels.
Egyptians were net sellers seizing 81.42% of the total markets, with a net equity of EGP 2.596 million excluding the deals.
On the other hand, Arabs and non-Arab Foreigners were net buyers seizing 4.04% and 14.54% respectively, of the total markets, with a net equity of EGP 566.756 thousand and EGP 2.029 million excluding the deals.
Leading Shares:
EGX’s leading shares witnessed collective upwards except for Orascom Telecom Media & Technology Holding (OTMT.CA)’s stock which dived by 8.77% to hit EGP 0.52.
shares surged Tuesday to the highest level since the first days of last year’s uprising as prospects of foreign direct investment from the U.S. and oil- rich Gulf Arab states boosted investor confidence.
EFG-Hermes:
EFG-Hermes Holding (HRHO.CA) led EGX upwards as it climbed by 10.00% to reach EGP 14.63.
Cairo Criminal Court, headed by Judge Mohamed Reda Shawkat, adjourned Saturday the consideration of the market manipulation case of which the sons of the ousted president Hosni Mubarak, Alaa and Gamal as well as EFG-Hermes CEOs Hassan Heikal and Yasser El Mallawany face charges alongside 5 other businessmen. The court was adjourned until Saturday 7/10/2012.
Commercial International Bank:
Commercial International Bank- Egypt (CIB) (COMI.CA) soared by 2.86% to hit EGP 33.82.
CIB climbed Tuesday to the highest level since April 2011.
Talaat Moustafa Group:
Talaat Moustafa Group (TMGH.CA) surged by 0.82% to reach EGP 4.93.
Citadel Capital:
Citadel Capital (CCAP.CA) inched higher by 0.80% to hit EGP 3.76.
Mobinil:
Shares of Egyptian Company for Mobile Services – Mobinil – (EMOB.CA) inched higher 0.75% to reach EGP 166.00.
Mobinil announced Monday afternoon that CEO Yves Gauthier’s latest statement released by one of the Egyptian economic newspapers on Monday regarding delisting from the Egyptian Exchange (EGX) is not completely identical to what he said.
The company added, in a release responding to EGX inquiries, that it has no information about the main shareholder’s future plans regarding developing the Group’s capital structure. The Group emphasized its commitment to inform the EGX with the company’s upcoming updates.
Orascom Telecom Holding:
Orascom Telecom Holding (OTH) (ORTE.CA) rose by 0.27% to hit EGP 3.71.
Orascom Construction Industries:
Orascom Construction Industries (OCIC.CA) went up by 0.15% to reach EGP 294.00.
The Board of Orascom Construction Industries – OCI (OCIC.CA) approved Tuesday the valuation differences for splitting the company’s activities, as per the report of General Authority for Investment and Free Zones (GAFI).
GAFI’s report calculated the net book value of shareholders’ equity in the Demerging Company (OCI Fertilizers) to the net book value of shareholders’ equity in the Demerged Company (Orascom Engineering and Construction) at (86.11%) to (13.89%) respectively, based on OCI’s financial statements for the fiscal year that ended on 31/12/2011.
