Pakistan arrests Islamic State Khorasan media chief    Government clarifies Al Mana aviation fuel project at Sokhna based on usufruct, not land sale    Lebanese Army Commander Rudolf Heikal holds critical security talks in Paris    Egypt partners with global firms to localise medical imaging technology    The Long Goodbye: Your Definitive Guide to the Festive Season in Egypt (Dec 19 – Jan 7)    Al-Sisi affirms support for Sudan's sovereignty and calls for accountability over conflict crimes    EGX closes in red zone on 18 Dec.    Egypt flags red lines, urges Sudan unity, civilian protection    "Property Egypt" platform launched to drive foreign currency inflows    Helwan Castings to manufacture unique strategic products for Middle East markets    Egypt, Jordan renew electricity exchange agreement for 2026    Oil prices rise on Thursday    Egypt's Al-Sisi offers to host talks to support DRC peace process in call with Tshisekedi    Egypt's Abdelatty proposes hospital project, infrastructure support in Gambia    Egypt explores opportunities to expand sustainable environmental investment in natural reserves    Central Bank of Egypt, Medical Emergencies, Genetic and Rare Diseases Fund renew deal for 3 years    Egypt's SPNEX Satellite successfully enters orbit    Egypt unveils restored colossal statues of King Amenhotep III at Luxor mortuary temple    Egyptian Golf Federation appoints Stuart Clayton as technical director    4th Egyptian Women Summit kicks off with focus on STEM, AI    Egypt's PM reviews major healthcare expansion plan with Nile Medical City    UNESCO adds Egyptian Koshari to intangible cultural heritage list    UNESCO adds Egypt's national dish Koshary to intangible cultural heritage list    Egypt calls for inclusive Nile Basin dialogue, warns against 'hostile rhetoric'    Egypt recovers two ancient artefacts from Belgium    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches Red Sea Open to boost tourism, international profile    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.



EGX Indices Opened This Week In Green On Hermes-QInvest Deal Optimisms
Amwal Al Ghad Published in Amwal Al Ghad on 28 - 04 - 2013

The Egyptian Exchange (EGX) has opened this week posting early gains of EGP 166 million powered by the state investment minister's remarks on finalizing the Hermes-QInvest pending strategic alliance this week.
The capital market has amounted to EGP 357.319 billion, according to data compiled by Amwal Al Ghad English at 11:09 a.m. Cairo time (09:09 GMT) during Sunday's opening session.
The EGX indices opened in green notes on Sunday's opening.
Benchmark EGX30 inched up by 0.62% to 5257.69 p; while EGX20 climbed by 1% to 6087.04 p.
Meanwhile, the mid- and small-cap index, the EGX70 rose by 0.33% to 449.93 p. Price index EGX100 edged up by 0.37% to 750.67 p.
During Sunday's opening session, the trading volume has reached 6.096 million securities worth EGP 25.691 million, exchanged through 1.841 transactions.
This was after trading in 71 listed securities; 5 declined, 42 advanced; while 24 keeping their previous levels.
Egyptians' opening buying transactions backed EGX's gains as they were net buyers seizing 97.05% of the total markets, with a net equity of EGP 1.974 million excluding the deals.
Meanwhile, the non-Arab foreigners' and Arabs were net sellers seizing 1.91% and 1.03% respectively, of the total markets, with a net equity of EGP 946.157 thousand and EGP 1.028 million, excluding the deals.
Hermes-Qinvest Deal Seen Before 3rd May, Stocks Surged
Egypt's Investment Minister, Osama Saleh, said in a statement on Saturday some measures are being taken in EFG-Hermes and Qlnvest strategic alliance seeking finalize the deal by the end of the current week.
The Minister added that it is scheduled to announce the final decision as regard to the long-standing takeover deal before the partnership deadline between the two firms that will be ended in the coming May.
EFG-Hermes (HRHO.CA)'s stock climbed on Sunday's opening 2.78% to EGP 10.34.

Clic here to read the story from its source.