The Egyptian Exchange (EGX) had on Monday's closing posted losses of EGP 3.98 billion as the capital market has reached EGP 320.729 billion. The main index, EGX30 dived 1.73% to close at 4394.32 p. EGX20 sank 2.59% to end at 4919.55 p. Meanwhile, the mid- and small-cap index, the EGX70 went down 1.43% to conclude at 391.64 p. Price index EGX100 edged down 1.90% to finish at 683.37 p. Traded volume reached 59.858 million securities worth EGP 167.913 million, exchanged through 12.470 thousand transactions. This was after trading in 169 listed securities; 131 declined and 22 advanced while 16 keeping their previous levels. Arabs and non-Arab Foreigners were net sellers seizing 3.88% and 7.48% respectively, of the total markets, with a net equity of EGP 4.886 million and EGP 11.292 million excluding the deals. On the other hand, Egyptians were net buyers seizing 88.63% of the total markets, with a net equity of EGP 16.178 million excluding the deals. EGX's leading shares witnessed collective downwards except for the shares owned by Orascom Telecom Holding (OTH) (ORTE.CA) which maintained their previous levels reaching EGP 2.92. EFG-Hermes Holding: Leading EGX's Monday downwards, the shares owned by EFG-Hermes Holding (HRHO.CA) dived 5.12% reaching EGP 10.00. Egypt's regulator - the Egyptian Financial Supervisory Authority (EFSA) stated that EFG-Hermes Holding (HRHO.CA) has submitted on Monday a disclosure form on inviting shareholders to attend the extraordinary general assembly meeting (EGM), as per Article No. 16 of the Listing and Delisting Regulations. Shareholders shall discuss reducing the company's issued and paid-up capital through cancelling the five-million treasury shares purchased more than a year ago. Orascom Construction Industries: Shares of Orascom Construction Industries (OCIC.CA) inched lower 1.52% hitting EGP 244.24. Orascom Construction (OCI) (OCIC.CA) reported a 54 percent fall in first-quarter net income on Monday, partly due to the sale of a stake in U.S. grains merchant Gavilon and also lower sales volumes and a drop in prices at OCI's fertilizer business. Net profit fell to $94 million from $206.3 million in the same period a year earlier. That compares to a consensus estimate by 14 analysts of $129.5 million.Consolidated revenue rose by 1.4 percent to $1.28 billion from $1.26 billion while earnings before interest, tax, depreciation and amortization dropped 24 percent to $255.8 million from $334.8 million in the same period a year earlier. Elsewhere, shares of Orascom Telecom Media & Technology Holding (OTMT.CA) also sank 3.28% reaching EGP 1.18. Shares of Commercial International Bank- Egypt (COMI.CA) went down 0.83% hitting EGP 24.02.
