EGX 30 Rebounds 0.19%, Close Above 5120 Pts, OTMT 1.82% Up

During Wednesday closing session, the Egyptian Exchange (EGX) has rebounded by posting gains of  EGP 1.27 billion as the capital market has amounted to EGP 353.828 billion.

The main index, EGX30 went up by 0.19% to close at 5120.25 p.  EGX20 inched higher 0.56% to end at 5918.74 p.

Meanwhile, the mid- and small-cap index, the EGX70 edged up 0.42% to finish at 449.9 p.  Price index EGX100 rose by 0.17% to conclude at 776.48 p.

Traded volume reached 162.626 million securities worth EGP 589.576 million, exchanged through 18.340 transactions.

This was after trading in 156 listed securities; 48 declined 84 advanced while 24 keeping their previous levels.

Egyptians were net buyers seizing 43.22% of the total markets, with a net equity of EGP 13.797 million excluding the deals.

On the other hand, non-Arab Foreigners and Arabs were net sellers seizing 46.4% and 10.38% respectively, of the total markets, with a net equity of EGP 1.442 million and EGP 12.355 million excluding the deals.

Leading Shares:

EGX’s leading shares witnessed unsteady performance during early session.

Orascom Telecom Media & Technology Holding:

Shares of Orascom Telecom Media & Technology Holding (OTMT.CA) have rebounded to lead EGX upwards as they climbed by 1.82% to finish at EGP 0.56.

This was after OTMT announced net profits of EGP 4.571 billion since OTMT’s inception till the end of the first half of 2012 that ended 30/06/2012.

EFG-Hermes Holding:

Shares of EFG-Hermes Holding (HRHO.CA) surged by 1.47% to close at EGP 11.01.

Egyptian investment bank EFG-Hermes Holding (HRHO.CA) has announced its net profits for the second quarter of 2012 hitting EGP 27 million, 23% down, compared to last year’s net profits of EGP 35 million.

Total operating revenues during Q2/2012 rose 10% to EGP 477 million, compared to EGP 466 million during Q2/2011. Operation profits, after excluding total operation expenses, slumped to EGP 146 million during Q2/2012, compared to EGP 167 million during Q2/2011.

Total brokerage revenues dipped by 20% to $4.677 million during Q2/2012, compared to $5.682 million during Q2/2011.

Talaat Moustafa Group:

The shares of Talaat Moustafa Group (TMGH.CA) jumped by 1.16% to end at EGP 4.37.

Gehad El Sawafta, Vice Executive Officer of Talaat Moustafa Group Holding SAE (TMGH.CA), announced Sunday 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.

Commercial International Bank:

The shares of Commercial International Bank- Egypt (CIB) (COMI.CA) rose by 0.60% to conclude at EGP 28.60.

Egypt’s Commercial International Bank (CIB) (COMI.CA) reported Wednesday an 18 percent increase in second-quarter net income on Tuesday, above the expectations of analysts who say the country’s lenders are benefiting from soaring yields on government debt.

Net profit at the country’s biggest privately owned bank by assets was 523 million Egyptian pounds ($86.17 million), above the 443 million it reported for the same period a year earlier and an analyst consensus forecast of 505 million.

Citadel Capital:

Shares owned by Citadel Capital (CCAP.CA) rose by 0.32% to end at EGP 3.10.

Orascom Construction Industries:

Orascom Construction Industries (OCIC.CA) sank by 0.94% to conclude at EGP 273.03.

Orascom Telecom Holding:

Orascom Telecom Holding (OTH) (ORTE.CA) maintained Tuesday’s levels at EGP 3.66.