Egyptian Stock Market News Tuesday, July 7th, 2018

The Egyptian Stock Exchange (EGX) was diversified during the trading session of Sunday 8/7/2018. The most important of these was the end of the Egyptian Stock Exchange, the trading session. Sunday, the beginning of the week. With a value of 13.9 billion pounds to close to 884.597 billion pounds.

The Stock Exchange Loses 13.9 Billion Pounds

The Egyptian Stock Exchange ended the trading session of the week with a collective decline in all indicators, driven by pressure from Egyptian institutions. With a value of 13.9 billion pounds to close to 884.597 billion pounds.

Transaction volume reached 268 million titles for more than 908 million pounds through the execution of 28 thousand transactions, the Egyptians accounted for 81.37% of total market transactions, non-Arab foreigners 14.86% and the Arabs 3.77%, and institutions accounted for 51.88% of stock market transactions, and the rest of the transactions for individuals at 48.11%.

Net transactions of Egyptian institutions for sale amounted to 172.5 million pounds, while net transactions of Egyptians, Arabs and foreigners and Arab and foreign institutions amounted to 131.6 million pounds, respectively. 14.8 million pounds, 2.9 million pounds and 16.6 million pounds.

The EGX30 index retreats 1.77% to close at 15839 points The EGX 50 index drops 2.10% to close at 2662 points The EGX20 index retreats 2.55% to close at 15793 points

The index of medium and small companies "EGX70" fell by 1.94% to close at 784 points, and the "EGX 100" index wider by 2% to close at 1993 points, and the Nile stock market index fell 0.42% Level 465 points.

The shares of 23 companies listed on the stock exchange were closed at the close of trading, 121 companies fell and 39 companies did not change.

Rejection of the Dignity of Dignity

The Claims Review Committee, created by the decision of Mr. Mohamed Omran, President of the Financial Supervisory Authority, No. 688 of 2018, The Commission and the Committee supervising the elections of the Egyptian Clearing, Depository and Central Registry Company, do not continue to apply the judgment rendered in Case No. 46959 for the Year 72 BC with its consequences, as well as the grievance of not being elected President of the Council.

First: The exclusion of the candidate Mohamed Suleiman Abdel Salam from the list of candidates for the election of the chairman of the board of directors of the Egyptian Clearing Company, filing and d & # 39; central registration In execution of the judgment rendered by the administrative court in case No. 46959 for the year 72 BC

Second: Rejection of the complaint lodged by Dr. Ashraf Mahmoud Ibrahim Mohammed Al-Dabaa, candidate for the presidency of the Board of Directors of the Egyptian Central Clearing and Deposit Office.

The Committee stated that it rejected the complaint that the provisions of the Basic Law of the MCDR conferred jurisdiction on the General Assembly by electing the President and the members of the Board of Directors of the MCDR. the Company, as expressly provided for in Article 18 of the Basic Law. The general meeting of the company shall: –

1] Election of a candidate from the list of candidates for the presidency of the company. "

which asked the General Authority for Financial Supervision to instruct the Board of Directors of the Egyptian Clearing, Depository and Central Registry to invite the" Company ". General meeting for the affairs of its business to choose the chairman of the board of directors of the company.

Re-negotiation on Global Telecom

The Egyptian Stock Exchange has decided to resume its activities on Global Telecom from 10:10 Sunday after responding to the Financial Supervisory Authority on the offer of a transaction to buy its badets in Pakistan.

In a letter to the Financial Supervisory Authority, Global Telecom has stated that if the transaction is approved by the minority shareholders, the company will receive a net amount of $ 965 million pursuant to the terms of the offer, including the deferral of specific payments. Adding that it is possible to approve the distribution of this amount to the shareholders in accordance with the provisions of the law.

and specifies that this requires, on the one hand, the appointment of a financial advisor by the Board of Directors and a second review of the Board of Directors through from his independent financial adviser, on the other hand a recommendation of the Board of Directors to the shareholders On the transaction and delegate a representative to sign his documents.

Once the agreement is reached, Global Telecom will continue to hold 45.6% of Giza in Algeria, in addition to certain other companies but in liquidation.

The Dutch company Vion offered to buy Global Telecom's badets in Pakistan (Gas and its subsidiaries) and Bangladesh (Bengalink) for a total consideration of $ 2,550 million. Algeria through Global Telecom.