Egyptian Exchange down 9% in October

A downwards trend dominating emerging markets and global bourses took its toll on the Egyptian Exchange (EGX) in October, leading to noticeable losses.

The benchmark index EGX30 dropped 9.3 percent or 1,366 points, as it closed at the level of 13,250.29 points, widening its year-to-date losses to 11.8 percent .

The small and medium sized enterprises index EGX70 went down by 2.38 percent to 695.38 points, while the broader index EGX100 lost 3.95 percent and closed at the level of 1,810.78 points.

The equal-weighted index EGX50 declined by 7.57 percent to settle at 2,105.76 points.

Market capital decreased by 52.28 billion pounds, to 751.5 billion pounds.

Our data show that the emerging markets crises cost EGX losses of a total 5,000 points.

Capital Economics expects the main index to reach 17,900 points by the end of the year.