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ASEA to launch the Pan-African Index

The President of the African Securities Exchanges Association (ASEA), Sunil Benimadhu, talks to Daily News Egypt, discussing Africa’s potential as an investment destination and the role of securities exchanges in promoting and benefiting from such potential.

Liliana Mihaila

Egyptian Stock Exchange. (PHOTO BY MOHAMED OMAR)

EGX30 closes above resistance level

The standard stock exchange index, EGX 30, ended Monday’s session above the resistance level of 5,800 points for the first time this month amid expectations of a continuing increase. The index closed Monday at 5,893 points compared to 5,793 points on Sunday, gaining 1.73 per cent, while the EGX70 index for small and medium sized …

Mohamed Salah

Closing price mechanism to be launched Thursday

The Egyptian Stock Exchange (EGX) will implement a new closing price mechanism on Thursday. Egypt’s financial watchdog, the Egyptian Financial Supervisory Authority (EFSA), approved the new regulations for changing stocks’ closing prices, as suggested by EGX board of directors, on 28 August in an effort to impose more discipline over trading operations. The new regulations …

Islam Serour

Bargain hunters lift Egypt; most Gulf markets up

By Tom Pfeiffer and Nadia Saleem / Reuters CAIRO/DUBAI: Egyptian stocks rallied on Wednesday after their biggest losing streak in months created fresh buying opportunities, and most Gulf markets also rose, supported by an upbeat global backdrop. Cairo’s main index rose 0.8 percent, lifting from Tuesday’s three-week low. The benchmark had lost 7 percent in four …

DNE

Egypt tumbles to 3-week low on political concerns

By Reuters CAIRO: Egypt’s main share index tumbled to a three-week low, dragged down for a fourth day by a series of reports that indicate Egypt’s economic and political troubles will not be resolved as quickly as thought, traders said. Real estate shares fell after a string of bad company results, while financial companies declined …

DNE

Egypt retreats further from eight-month high

By Reuters CAIRO: Egypt’s benchmark index dropped for a second day, retreating further from an eight-month high reached last week when optimism grew that Egypt was recovering from a year of political and economic turmoil. Gains since the start of the year have boosted the index by around 50 percent. The index slid 1.8 percent …

DNE

Egypt gains on upbeat Q4; most Gulf markets extend gains

By Reuters CAIRO: Egypt’s bourse bounced back from a two-session decline as estimate-beating earnings lifted sentiment on Thursday and most Gulf markets rallied as buying momentum continued despite a weaker global backdrop. Commercial International Bank, one of Egypt’s largest, surged 8.1 percent after its fourth-quarter net profit fell by a less-than-anticipated 9 percent. Telecom Egypt …

DNE

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