EGX 30 Surges 0.78%, OTMT 8.93% Up; Thursday Opening

During Thursday opening session, the Egyptian Exchange (EGX) has posted early gains of  EGP 1.7 billion as the capital market has amounted to EGP 355.541 billion, according to data compiled by Amwal Al Ghad at 10:54 a.m. Cairo time (08:54 GMT).

The main index, EGX30 went up by 0.78% to hit 516.27 p.  EGX20 jumped 1.29% to reach 5995.05 p.

Meanwhile, the mid- and small-cap index, the EGX70 edged up 0.16% to hit 450.64 p.  Price index EGX100 rose by 0.33% to reach 779.06 p.

Traded volume reached 4.762 million securities worth EGP 19.668 million, exchanged through 826 transactions.

This was after trading in 51 listed securities; 5 declined 37 advanced while 9 keeping their previous levels.

Egyptians were net sellers seizing 69.18% of the total markets, with a net equity of EGP 4.129 million excluding the deals.

On the other hand, non-Arab Foreigners and Arabs were net buyers seizing 18.02% and 12.8% respectively, of the total markets, with a net equity of EGP 1.474 million and EGP 2.655 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) jumped by 8.93% leading EGX upwards to hit EGP 0.61.

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 2.18% to reach EGP 11.25.

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.

Orascom Telecom Holding:

Orascom Telecom Holding (OTH) (ORTE.CA) surged 0.82% to hit EGP 3.69.

Talaat Moustafa Group:

The shares of Talaat Moustafa Group (TMGH.CA) rose by 0.69% to hit EGP 4.40.

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) inched higher by 0.66% to reach EGP 28.79.

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) edged up by 0.65% to reach EGP 3.12.

Orascom Construction Industries:

Orascom Construction Industries (OCIC.CA) kept its Wednesday levels at EGP 273.03.