EGX closed in mixed notes on Sept. 15    Egypt's Sisi, Qatar's Emir condemn Israeli strikes, call for Gaza ceasefire    EHA launches national telemedicine platform with support from Egyptian doctors abroad    Madbouly reviews strategy to localize pharmaceutical industry, ensure drug supply    Al-Mashat tells S&P that Egypt working to reduce external debt, empower private sector    Cairo's real estate market shows resilient growth as economy stabilizes: JLL    Egypt's real estate market faces resale slowdown amid payment pressures    Egypt's Foreign Minister, Pakistani counterpart meet in Doha    Egypt condemns terrorist attack in northwest Pakistan    Emergency summit in Doha as Gaza toll rises, Israel targets Qatar    Egypt renews call for Middle East free of nuclear weapons، ahead of IAEA conference    Egypt's EDA, Korean pharma firms explore investment opportunities    Egypt advances plans to upgrade historic Cairo with Azbakeya, Ataba projects    Egyptian pound ends week lower against US dollar – CBE    Egypt hosts G20 meeting for 1st time outside member states    Lebanese Prime Minister visits Egypt's Grand Egyptian Museum    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt seeks Indian expertise to boost pharmaceutical industry    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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Egypt stocks up as president ratifies budget
The benchmark EGX30 index climbed 1.13 percent to register 8,162 points while the broader EGX70 index increased 0.98 percent in a session that saw daily stock turnover reach LE478 million
Ahram Online Published in Ahram Online on 30 - 06 - 2014

Stocks rallied on Monday after the minister of finance announced details of the budget following the approval of the new state budget for the financial year 2014/15.
The benchmark EGX30 index climbed 1.13 percent to register 8,162 points while the broader EGX70 index increased 0.98 percent in a session that saw daily stock turnover reach LE478 million.
"Approving the state budget impacted the market positively," Mohamed Radwan, head of equities at Pharos Holding, told Ahram Online.
Unusually, non-Arab foreign investors exceeded 75 percent of market activity. They were net buyers to the tune of LE1.2 million. Arabs were net buyers to the tune of LE4.2 million while Egyptians were net sellers.
"Non-Arab foreigners represented most of the trading activity due to the Commercial International Bank (CIB) deal where the bank sold 77 million of its shares at LE36 per share in a deal that was not reflected in daily turnover," said Radwan.
Some 124 shares were gainers in Monday session, with only 21 decliners.
The EGX30 saw only three of its shares decline, including Egyptian Financial Group-Hermes (EFG-Hermes) which fell 1.1 percent to LE15.39 per share.
Financial services firm Pioneers Holding, real estate firms Madinet Nasr Housing and Six of October for Development and Investments Company (SODIC) led the EGX30, rising 5.28 percent to LE13.38 per share, 4.96 percent to LE38.39 per share and 3.85 percent to LE33.15 per share respectively.
Palm Hills Development holding climbed 1.79 percent to LE3.98 per share and Talaat Moustafa Group (TMG) holding increased 1.43 percent to LE8.5 per share.
In the telecommunications sector, Orascom Telecom Media and Technology Holding (OTMTH) increased 1.68 percent to LE1.2 per share, Global Telecom Holding rose up 1.58 percent to LE5.15 per share and Telecom Egypt inched up 0.98 percent to LE13.49 per share.
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