During Thursday closing session, the Egyptian Exchange (EGX) has extended posting gains of EGP 3 billion as the capital market has amounted to EGP 337.311 billion. The main index, EGX30 hiked 1% to close at 4867.75 p. EGX20 climbed 1.52% to end at 5551.44 p. Meanwhile, the mid- and small-cap index, the EGX70 surged 1.23% to finish at 427 p. Price index EGX100 inched higher 1% to conclude at 734.37 p. Traded volume reached 202.276 million securities worth EGP 300.855 million, exchanged through 16.913 transactions. This was after trading in 167 listed securities; 17 declined 137 advanced while 13 keeping their previous levels. Egyptians and Arabs were net buyers seizing 66.84% and 9.76% respectively, of the total markets, with a net equity of EGP 27.157 million and EGP 12.863 million excluding the deals. On the other hand, the non-Arab Foreigners were net sellers seizing 23.4% of the total markets, with a net equity of EGP 14.294 million excluding the deals. Leading Shares: EGX's leading shares witnessed collective upwards led by the shares of Orascom Telecom Media & Technology Holding (OTMT.CA) which jumped 7.50% to close at EGP 0.43. Orascom Telecom Media & Technology Holding: Orascom Telecom Media and Technology Holding (OTMT.CA) will pay today, Thursday, July 19, 2012, dividend No. 1, at EGP 1.05 a share, to shareholders of record till close of trading on the general meeting date. The payment will be effected via Misr for Central Clearing, Depositary and Registry (MCDR). The company's ordinary shareholder meeting approved the dividend payment, to be financed from realized retained earnings till June 7th. Accordingly, shareholders' share in profit will reach EGP 5.508 billion. Talaat Moustafa Group: Talaat Moustafa Group (TMGH.CA) climbed 1.74% to close at EGP 4.10. Talaat Mostafa Group Holding (TMG) issued a statement Monday confirming that the recommendation of the advisory committee to the State Judicial Council on invalidating the Madinaty land plot (33.6m sq m) contract is not binding to the court. It highlighted that the judicial panel stated it was a procedural error, which is the responsibility of the government and not TMG. According to the company, TMG will present the documents to support that it had laid infrastructure on 97.0% of the land plot. TMG clarified that if the judge is to issue an unfavorable ruling, the case will be transferred to another department within the Higher Administrative Court concerned with judgment on the subject matter of the appeal. Orascom Telecom Holding: The shares of Orascom Telecom Holding (OTH) (ORTE.CA) surged 1.55% to finish at EGP 3.28. EFG-Hermes Holding: The shares of EFG-Hermes Holding (HRHO.CA) soared 1.37% to finish at EGP 11.09. Commercial International Bank: The shares owned by Commercial International Bank- Egypt (CIB) (COMI.CA) inched higher 0.90% to close at EGP 29.22. Orascom Construction Industries: The shares of Orascom Construction Industries (OCIC.CA) edged up 0.33% to end at EGP 254.98. Telecom Egypt: Shares of Telecom Egypt Co. (TE) (ETEL:CA) went up by 0.24% to close at EGP 12.78. Telecom Egypt's board of Directors have decided to convene its annual general meeting (AGM) on Thursday 09/08/2012. The AGM will be discussing the formation of a new board of directors and the selection of Telecom Egypt's forthcoming chief executive officer as the company's CEO and Managing Director Tarek Aboualam will step down as of Aug. 11 due to personal reasons. Mohamed Samy Saad Zaghloul also resigned from Telecom Egypt's board of directors for personal reasons, effective June 26th, 2012.
