Egypt stocks climb 2.41% in week

Egypt’s main index, EGX 30 climbed 2.41 percent in a week, to close at 13115 points.

Market Capitalisation:

Egypt’s stock market recorded weekly gains worth 12 billion Egyptian pounds ($670.5 million), closing at 634 billion pounds during the closing session of Thursday versus 622 billion pounds at the end of a week earlier.

Indices

Mid-and small-cap index, EGX70 also jumped by 6.11 percent in a week closing at 524 points during Thursday’s session.
Price index, EGX 100 soared 4.66 percent finishing at 1259 points during Thursday’s session. EGX 20 also rose 0.09 percent, ending at 11999 points.

Turnovers
During the week, the trading volume hit around 1.338 billion securities, compared to 1.625 billion. For the traded value, it reached 7.0 billion pounds against 6.5 billion pounds a week earlier.

Market Remarks in a Week:

State-run Banque Du Caire IPO request approved

EGX announced Wednesday it approved listing of state-owned lender Banque Du Caire. Banque Du Caire, one of Egypt’s largest and oldest public lenders, applied earlier this month to list on the Egyptian stock exchange with a capital of 2.25 billion Egyptian pounds ($123.97 million).

“The bank’s IPO, which is a first step in the public IPOs, is a positive step to refresh the market and attract investments and shows the government commitments to its economic reform programme,” Minister of Investment Dalia Khorshid told reporters a week earlier.

EFG-Hermes and HSBC had been selected as consultants for the initial public offer.