Masress : Egypt stock exchange hits new highs at week's end

Egypt's SCZONE posts EGP 6.25 bln revenue in FY2025/26 Egypt's Cabinet approves plan to increase Arab Monetary Fund's capital Egypt launches joint venture to expand rooftop solar operations nationwide Housing Minister reviews progress at alternative site for Samla, Alam Al-Roum FRA launches first register for tech-based risk assessment firms in non-banking finance Egypt's Health Ministry, Philips to study local manufacturing of CT scan machines African World Heritage Fund registers four new sites as Egypt hosts board meetings Turkish firm Eroglu Moda Tekstil to invest $5.6m in Egypt garment factory Maduro faces New York court as world leaders demand explanation and Trump threatens strikes Egypt, Saudi Arabia reaffirm ties, pledge coordination on regional crises Al-Sisi pledges full support for UN desertification chief in Cairo meeting Al-Sisi highlights Egypt's sporting readiness during 2026 World Cup trophy tour Egypt opens Braille-accessible library in Cairo under presidential directive Abdelatty urges calm in Yemen in high-level calls with Turkey, Pakistan, Gulf states Madbouly highlights "love and closeness" between Egyptians during Christmas visit Egypt confirms safety of citizens in Venezuela after US strikes, capture of Maduro US forces capture Maduro in "Midnight Hammer" raid; Trump pledges US governance of Venezuela From Niche to National Asset: Inside the Egyptian Golf Federation's Institutional Rebirth 5th-century BC industrial hub, Roman burials discovered in Egypt's West Delta Egyptian-Italian team uncovers ancient workshops, Roman cemetery in Western Nile Delta Egypt, Viatris sign MoU to expand presidential mental health initiative Egypt's PM reviews rollout of second phase of universal health insurance scheme Egypt sends medical convoy, supplies to Sudan to support healthcare sector Egypt sends 15th urgent aid convoy to Gaza in cooperation with Catholic Relief Services Al-Sisi: Egypt seeks binding Nile agreement with Ethiopia Egyptian-built dam in Tanzania is model for Nile cooperation, says Foreign Minister Al-Sisi affirms support for Sudan's sovereignty and calls for accountability over conflict crimes Egyptian Golf Federation appoints Stuart Clayton as technical director 4th Egyptian Women Summit kicks off with focus on STEM, AI UNESCO adds Egyptian Koshari to intangible cultural heritage list Egypt recovers two ancient artefacts from Belgium Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows Sisi expands national support fund to include diplomats who died on duty Egypt's PM reviews efforts to remove Nile River encroachments Egypt resolves dispute between top African sports bodies ahead of 2027 African Games Germany among EU's priciest labour markets – official data 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

Thank you for reporting!

This image will be automatically disabled when it gets reported by several people.

Egypt stock exchange hits new highs at week's end
EGX30 climbs to 8,459 points, buoyed by bullish foreign investors as daily turnover also breaks record at LE1.6 billion

Ahram Online Published in Ahram Online on 20 - 03 - 2014

Egypt's benchmark index ended the trading week on a new high, as the market broke turnover records on Thursday for the second time this month.
The main EGX30 climbed over 2 percent to reach a new high of 8,459 points, as investors were bullish on blue chips, while daily turnover of listed stocks reached LE1.6 million, surpassing a previous high of LE1.4 billion reached on 13 March.
Non-Arab foreign investors made up some 22 percent of the market and were the only net-buyers, to the tune of LE106 million, while Egyptian and Arab investors were net-sellers, for LE32.3 million and LE73.7 million, respectively.
Institutions accounted for almost 35 percent of market activity.
“Foreign investors, who are largely present in the market through institutions, demonstrated an appetite for blue chip stocks today,” Ashraf Abdel-Aziz, head of institutional sales at the Cairo-based Arabia Online Securities, told Ahram Online.
The main index was evenly split between rising and falling shares, with the latter mainly comprised of prominent shares usually sought by foreign investors.
Market bellwether Commercial International Bank (CIB) leaped 3.23 percent to trade at LE38.35 per share, achieving the highest turnover in the index at LE132.7 million.
In the telecom sector, Global Telecom Holding and state-owned fixed-line operator Telecom Egypt saw their shares jump 4.01 percent and 4.64 percent, to trade at LE4.93 and LE16.70, respectively.
Real estate main players were in the green as well. TMG Holding rose 1.92 percent to trade at LE8.51 a share, Palm Hills Development Company gained 1.49 percent to trade at LE4.09, and Six of October Development and Investment (SODIC) rose 2.84 percent to trade at LE28.93 a share.
Among the losing shares were Orascom Telecom Media and Technology Holding, which had been ascendant the past few sessions but fell 0.67 percent on Thursday to trade at LE1.49.
The broader EGX70 index slid by 1.55 percent.
http://english.ahram.org.eg/News/97148.aspx

Clic here to read the story from its source.