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Establishment of new auto finance company has been completed, its activity starts last month
Investor Relations and Business Development Manager at MTI Ashraf El-Ghannam said MTI is establishing two consumer finance arms this year. One of the new companies is for auto finance and its establishment procedures have been completed, and it began operating last month.
The EGX management has suspended trading on the shares of 21 listed companies for 10 minutes in the last hour of Monday’s trading, as a result of incurring 5% decline.
The EGX decided to stop the trading session for half an hour on Sunday, and later resumed the trading as the EGX100 index dropped 5% to 1,243 points level
EGX30 capped declined by 5.8% and concluded at 14,756.81 points, while EGX100 declined by 3.93% and concluded the period at 1,311.08 points.
Head of technical analysis at Pharos Holding Mohamed Osman believes the benchmark EGX30 is still hovering on its previous low at the support level of 13,550 points, thus the consistency of trading above that level paves the way for a possible rebound.
Companies importing production inputs from China look for new suppliers
Beltone, Hermes, Shuaa, Arqaam are top nominees to begin
Possible deals of merging or acquisition of Vodafone Egypt, Cleopatra Hospitals increase appetite of investors
Market capital up 1.5% reaching EGP 708.1bn
According to the EGX statement on Saturday, the new index divisor was calculated at 1,000 points. Each company listed on the EGX70 EWI gets the same relative weight, which is about 1.43% in the first days of the periodic review.
EGX30 to test 14,100 this week: MEDAF
Banking sector led EGX recovery last week: EAC chairperson
Future profitability multiplier for the Egyptian market is set at 10.6x: Shuaa
Expectations of market cohesion at the end of the year despite the absence of influential forces: Elnemr
Expectations of continuing increase at 14,350-14,500 levels during this week: El Rawy
Egypt will offer 22% to 25% of the shares in HHD in 1Q 2020, says Hesham Tawfik
Our discussions with Egypt focused on possible modalities of future engagement rather than on specific measures, says Lall
Country branding relates to culture, politics, sports of the people, says Salah Hassan
Ahmed Fahim, head of technical analysis at Al-Shorouk Brokerage Company, said that the main index will continue its bullish move to target the new resistance level at 14650 points this week, which, if penetrated, the index will target 15000 points
ALCN, AFC listings expected to be deferred to 1Q 2020
Company established in participation of the EGX, Ministry of Supply, set 5 conditions to accept goods traded
Upward movements within a transverse range await more new catalysts
Market lack of response to lower operating costs and lower gas and gasoline prices adds some caution to the upward outlook
The committee also recommended reducing the expenses of the Investor Protection Fund by 50% to 0.00005%, down from 0.0001%, and cut fees on trading on stocks listed on the EGX by 50%.
Omran said the IPF will provide insurance coverage of the actual financial loss of member clients in the companies operating in the field of securities and financial instruments against non-commercial risks
In a clear turn of events, the EGX decided to suspend trading on 71 shares for 10 minutes, but this time because of the proportion of their gains exceeded the 5% barrier, unlike last week, when trading was suspended due to losses.
Lower interest rates will encourage investment borrowing, says Abu Basha
First cargo shipping from Sokhna Port to Uganda leaves on Tuesday
CIB hikes by 5% and Eastern Company by 4.7%