The Egyptian Exchange has managed to post gains of EGP 6.3 billion in week. The capital market has hit EGP 383.205 billion at the end of last week, compared to EGP 376.900 billion at the end of a week earlier. Benchmark EGX 30 index climbed by 1.7%, representing an increase of 96.44 pts, ending Thursday's transactions at 5702.93 pts, compared to EGP 5606.49 pts at the end of a week earlier. EGX30 hit its highest point on Tuesday closing at 5,795.57 pts, where its lowest point recorded on Wednesday at 5,690.93 pts. Meanwhile, the mid- and small-cap index, the EGX70 surged by 3.65% closing at 482.82 points during Thursday's session, compared to 465.54 points at the end of a week earlier. Price index EGX100 pushed up by 2.65% concluding Thursday's session at 811 points, compared to 790.19 points during a week earlier. The EGX has recorded volume of trades hit 837 billion securities, compared to 473.03 million a week earlier; while the traded value reached EGP 2.273 billion, compared to EGP 1.963 billion a week earlier. Companies' Weekly Performance Highlights: Egyptian Financial Group – Hermes (HRHO.CA) closed last week at EGP 10.81, while closed on Thursday at EGP 11.84 (highest close), jumping by EGP 1.03 (10 %). Stock lowest close during the week came on Sunday at EGP 11.13. On Sunday, Alborsa newspaper reported that EFG-Hermes submitted a request last week to Egyptian Stock Exchange in order to finalize ownership transfer process of QInvest deal. EGX sent its approval to Egyptian Financial Supervisory Authority to finalize the process. It is worth noting that, this request comes after Hermes' announcement which attributed delay in the deal to government approvals. On Thursday, EFG-Hermes denied media reports related to the imminence of finalizing QInvest transaction. The company added, in a release responding to EGX inquiries that, it still in the stage of preparing the required documents to get approvals to complete the transaction. Telecom Egypt - (ETEL.CA) closed last week at EGP 14.5, while closed on Thursday at EGP 14.66, upping by EGP 0.16 (1 %). Stock highest close during the week came on Monday at EGP 14.8, while the lowest close came on Sunday at EGP 14.63. On Tuesday, Telecom Egypt announced that it is moving to maintain its rights in Algeria, adding that its dues with telecom operators amounting to EGP 8 billion still before courts. TE added, in a release responding to EGX inquiries, about Egyptian prosecutors' investigations about report alleging squandering about EGP 10 billion that considering Algeria project it is moving to maintain its rights. Considering arbitration against mobile operators for is dues which amount to EGP 8.8 billion, TE stated that we can't disclose any statements as the case still before courts. In a related context, a government source, who demanded anonymity, stated that the allegations came on the Central Auditing Organization report accusing TE of lax in taking legal measures to collect EGP 8.8 billion dues from Vodafone and Mobinil are untrue. On the other hand, Mohamed El Nawawy, CEO of TE, told Almasry Alyoum newspaper that the figures and accusations in the report are not true. Also on Tuesday, Telecom Egypt will be ready to offer mobile services six weeks after it receives the network license, executive director Mohamed Nawas told state-run news agency MENA. Telecom Egypt expects to receive the network license soon, and it is ready to offer the public four different communication bundles, Nawas explained. The license is pending the government's approval of the different tariff plans that are currently being offered by Telecom Egypt. Egypt has three mobile operators: Vodafone Egypt, Mobinil, which is controlled by France Telecom, and Dubai-based Etisalat. Telecom Egypt is 80 per cent owned by the Egyptian state, with the remaining 20 per cent floated on the stock market. Talaat Moustafa Holding - TMG (TMGH.CA) closed last week at EGP 4.23, while closed on Thursday at EGP 4.28 (lowest close), upping by EGP 0.05 (1 %). Stock highest close during the week came on Monday at EGP 4.41. On Sunday, Cairo Investment & Real Estate Development announced that it purchased Arab Company for Projects', TMG affiliate, stake in Othman Bin Affan School in New Cairo amounting to 50 % with contracting value of EGP 20.5 million. On Tuesday, TMG announced that state representatives' report to annul allocating 3 million meters in Marsa Alam to Port Venice, TMG affiliate, is preparatory and non-binding to the court which will start case review on 12 February 2013. TMG added, in a release sent to EGX that, Tourism Development Authority, which sold the land to Port Venice, is fighting for its contracts as it is responsible for it. TMG stated that, Port Venice paid all of the Authority's dues, adding that Port Venice would submit its documents which were not available with the representatives during preparation of the report. 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 124,508,877. Local investors chose also to buy by value of EGP 17,320,115. Arab investors were most active sellers this week by the value of EGP 141,828,991. Retail & Institutions' Activity: Retail activity led the market all through the week as it ranged between 24.19 – 75.20 %. While Institutions activity ranged during this week between 24.97 – 75.80 %.
