Egyptian Stock Market News

The Egyptian Stock Exchange (EGX) diversified during the trading session of Tuesday 31 / 7-2018, the most important of which was the end of the Egyptian stock market, trading Tuesday, mid-session, a rise of all indicators. The market capitalization of 10.8 billion pounds to close to 873.601 billion pounds.

The stock market earns 10.8 billion pounds.

The Egyptian Stock Exchange closed the session Tuesday, mid-week session, a collective rise of all indicators, driven by purchases from Egyptian, Arab and foreign institutions, The market capitalization of 10.8 billions of pounds to close up to 873.601 billion pounds.

The volume of transactions reached 162 million titles for a value of 814 million pounds thanks to the implementation of 21,400 transactions: 58.06% of the total transactions of the market, 33.12% of foreigners and 308, 2% of Arabs. Tadawul today, and institutions accounted for 49.04% of stock market transactions, and the rest of transactions for individuals at 50.95%.

Net transactions of Egyptians, Arabs and foreigners amounted to 75.6 million EGP, 1.9 million EGP and 1.5 million EGP, Net transactions of Egyptian, Arab and foreign institutions amounting to 20.5 million EGP, 11.8 million and 46.7 million respectively.

The EGX30 index rose 1.85% to close at 15580 points, the EGX 50 index rising 1.46% to close at 2584 points, the EGX20 index jumping 2 , 25% to close at 15470 points.

The EGX70 index rose 0.56% to 744 points, the EGX 100 index broadly increased 0.74% to close at 1930 points, and the Nile index Stock Exchange rose 0.25% to reach the level of 476 points.

The shares of 95 publicly traded companies were closed at the close of business, 33 companies fell and the levels of 46 companies remained unchanged.

International Commercial Bank

Mubasher Securities Brokerage predicted that the rise of Commercial International Bank (CIB), the main stock index, would save the sharp drop – at least for the time being – adding that this could help The strong rebound in the Global Telecom Holding index should also increase.

Mubasher explained in a research report that the share of Commercial International Bank (CIB), saying that the stock is trying to break the downtrend line that started two months ago, and that she will reach the level of 87 pounds. However, this penetration has yet to be confirmed, not only in terms of price action, but also to the confirmation of volumes, as this is the only guarantee for the continuation of this scenario.

Closing below the downtrend line, or breakeven point with low volumes, is a threat and may invalidate the previous scenario.

Suez Bags

The ASE management announced that the initial total quantities responding to the mandatory purchase offer on the shares of Suez Bags Company had risen to 7 , 2 million shares at the end of Tuesday 's session.

The stock market opened its special market to offer compulsory purchase of Suez shares for bags from July 3 to 31.

The purchase price offered to Suez Bags by Mundi Industrial Baggs BV amounted to 7.6 million shares for a value of 26.01 pounds sterling per share and will be executed on the stock market within 5 business days of the expiry of the offer period.

Suez Bags posted a profit of LE 15.4 million in the quarter ended March, compared to profits of LE 13.2 million in the comparative period of 2017.

Shares to be acquired by Mondi include the shares of Tora Cement and Suez Cement, which are respectively 53.32% and 4.52%.

Mundi announced last month the acquisition of all shares of National Paper Industries, Import and Export for an amount of 23.7 million euros.