The Egyptian Exchange has managed to gain EGP 15.5 billion in week amid celebrating the arrival of a new year and being ranked second according to the Standard & Poor's (S&Ps)'s annual report on the worldwide bourses' growth rates in 2012. The capital market has hit EGP 388.708 billion at the end of last week, compared to EGP 373.188 billion at the end of a week earlier. Benchmark EGX 30 index jumped by 5.85% this week, representing a leap of 316.8 points, ending Thursday's sessions at 5734.3 points compared to 5417 points at the end of last week. EGX30 hit its highest point on Thursday closing at 5734.3 points, where its lowest point recorded on Sunday at 5442.37 points. Meanwhile, the mid- and small-cap index, the EGX70 soared by 3.94% closing at 498.26 points during Thursday's session, compared to 479.37 points at the end of a week earlier. Price index EGX100 hiked by 4.28% concluding Thursday's session at 835.23 points, compared to 800.9 points during a week earlier. The EGX has recorded volume of trades hit 631.042 million securities worth EGP 1.871 billion, exchanged 102.97 thousand transactions in week. It is worth noting that the EGX management has halt its trading for one session on Tuesday on the occasion of the beginning of a new year. Companies' Weekly Performance Highlights: Telecom Egypt (ETEL.CA) closed last week at EGP 14.09, while closed on Thursday at EGP 14.47, jumping by 3 % (EGP 0.38). Stock highest close during the week came on Wednesday at EGP 14.5, while the lowest close during the week came on Monday at EGP 14.15. On Monday, TE, the monopoly fixed- line operator, expects the regulator to decide on the fate of its stake in Vodafone Egypt and the resolution of a dispute with two incumbent mobile phone operators next year, paving the way for obtaining Egypt's fourth mobile license, Bloomberg reported. “We are waiting for a decision by the regulator on whether we will be forced to divest from Vodafone Egypt or just leave our seats on the board of directors," Ahmed Labib, Telecom Egypt's investor relations manager, said by phone. Telecom Egypt holds 45 percent stake in Vodafone Egypt. Telecom Egypt is also expecting a decision following a September arbitration hearing on a claim involving two incumbent mobile phone operators, Labib said. The company claims that competitor Egyptian Co. for Mobile Services, or Mobinil, paid lower interconnection rates to Vodafone Egypt. The decisions on its stake and the dispute resolution will “hopefully" be made in 2013, Labib said. The third existing mobile phone operator is the United Arab Emirates' Etisalat Misr. Egypt's mobile phone operators would also be given fixed- line licenses, which they would operate through Telecom Egypt's network, Labib said. Ezz Steel - (ESRS.CA) closed last week at EGP 9.97, while closed on Thursday at EGP 10.72 (highest close), jumping by EGP 0.75 (8 %). Stock lowest close during the week came on Sunday at EGP 9.88. On Monday, Ezz Steel denied news published in a newspaper about operating steel balls production line in the beginning of 2013 with total cost of EGP 100 million. The company added, in a release sent to EGX that, this news is totally untrue. On Tuesday, Egyptian steel tycoon Ahmed Ezz was referred to the economic felonies court on Tuesday on charges of engaging in monopolistic practices in the Egyptian steel market, Ahram Online reported. Ezz – the secretary-general off Hosni Mubarak's National Democratic Party (NDP) – is the former chairman of Ezz Steel, the largest steel maker in the region. The managing director of Ezz Steel, Alaa Abul-Kheir, and the group's sales manager, Samir Noaman, were also referred to court on the same charges. On Thursday, Ezz Steel announced that it didn't receive official notification about its ex-chairman Ahmed Ezz referral to the economic felonies court on charges of engaging in monopolistic practices in the Egyptian steel market. Regarding Investors' Activity: Local investors led the market activity all through the week, followed by Foreign and Arab investors respectively. Foreign investors were the most active buyers this week earning the value of EGP 92,058,145. Arab investors chose also to buy by value of EGP 29,423,414. Local investors were most active sellers this week by the value of EGP 121,481,557. Retail & Institutions' Activity: Retail activity led the market all through the week as it ranged between 63.54 – 79.46 %. While Institutions activity ranged during this week between 20.53 – 36.45 %.
