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The stock markets bloodbath triggered the first-ever forced trading halt in the US and similar measures in Egypt, Europe, Asia, and Gulf Cooperation Council (GCC).
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.
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EGX 30 index gained 177.77 points, 1.26%, closes at 14,261.25 points
EGX30 index inched up 0.075 or 9.7 points to the level of 13,891.71 points
Investors are more likely to pump more cash in these stocks to maximise profits
EGX expected to move between 11,200 to 11,500 points
Investment in shares is more attractive compared to fixed-income instruments despite increase in interest rates by 3% on Thursday, say investment managers
Turkish stocks and the lira have remained under selling pressure after a failed coup shook the country on Friday, now forcing the central bank to lower interest rates for the fifth consecutive month.
Most real estate stocks have been on the rise over the past four months, recording various high rates. This rise came as a result of the recent economic developments that affected investors and their savings instruments, especially real estate, after the Central Bank of Egypt (CBE) devalued the Egyptian pound from EGP 7.73 to EGP …
London’s benchmark FTSE 100 stock index has erased all its post Brexit vote losses on a wave of bargain hunting activities. Energy and financial shares were among the biggest winners after slumping right after the vote.
US bank shares have led a steep decline on Wall Street as aftershocks from Britain’s vote to leave the European Union have roiled global markets again. Traders were uncertain about London’s future as a finance capital.
Share markets around the world have gained on expectations that Britain would vote to stay in the EU. European stocks rose for the fifth day running on Thursday, while the British pound hit a 2016 high.
Investment managers say companies are seeking foreign investments through GDRs in light of the US dollar shortage, while local investors hide behind foreign institutions to obtain revenue in US dollars instead of Egyptian pounds
China is easing US access to domestic stocks and bonds and has pledged to curb the flood of its steel on the global market in a two-day dialogue between the two countries – but they didn’t agree on everything.
Market capitalisation of listed stocks increased by 2.2% this past week
Foreign investors have sold EGP 744.54m in shares since the beginning of 2016
Asian markets mostly fell at the end of the trading session on Tuesday. China’s benchmark has stabilized a day after plunging nearly 7 percent.
Germany’s blue-chip stocks index, the DAX-30, has completed a fourth year of a rising trend as 2015 comes to a close. An index of European blue chips also rose, albeit by only half as much.
2015 witnessed the first cross-border IPOs by Egyptian issuers in the past five years
Non-financial companies that will benefit EGP devaluation will include OTMT, Oriental Weavers, Global Telecom Holding, Lecico
The day started with an increase in the benchmark index but ended with another loss
The more than 8% plunge in the Shanghai Stock Exchange on Monday, 24 August , is the biggest single-day loss Chinese stocks have seen since the peak of the global financial crisis in 2007