During Monday opening session, the Egyptian Exchange (EGX) has pared its early losses of EGP 45 million as the capital market has amounted to EGP 363.502 billion, according to data compiled by Amwal Al Ghad at 10:53 a.m. Cairo time (08:53 GMT). The main index, EGX30 tumbled by 0.03% to hit 5240.74 p. EGX20 inched lower by 0.10% to reach 6121.55 p. Meanwhile, the mid- and small-cap index, the EGX70 rose by 0.12% to hit 478.84 p. Price index EGX100 went down by 0.12% to reach 812.63 p. Traded volume reached 1.862 million securities worth EGP 6.355 million, exchanged 537 transactions. This was after trading in 67 listed securities; 31 declined 23 advanced while 13 keeping their previous levels. Egyptians and Arabs were net buyers seizing 89.45% and 2.71% respectively, of the total markets, with a net equity of EGP 294.552 thousand and EGP 65.867 thousand excluding the deals. The main reason behind EGX30's early downwards was that non-Arab Foreigners were net sellers seizing 7.84% of the total markets, with a net equity of EGP 360.419 thousand excluding the deals. Leading Shares: EGX's leading shares witnessed collective downwards except for the shares of Orascom Telecom Media & Technology Holding (OTMT.CA) which jumped by 8.47% to hit EGP 0.64 and of Citadel Capital (CCAP.CA) which surged by 0.31% to reach EGP 3.23. Orascom Telecom Holding: Orascom Telecom Holding (OTH) (ORTE.CA) led up EGX early downwards as they dived by 1.11% to hit EGP 3.55. EFG-Hermes Holding: Shares of EFG-Hermes Holding (HRHO.CA) went down by 1.02% to reach EGP 11.60. EFG-Hermes said Sunday it will announce the date of its extraordinary shareholders meeting with a week. EFG-Hermes added that its ESM aims to provide its shareholder with all the disclosures and details; QInvest buyout deal in particular regarding the acquisition of 60% of Hermes stakes. EFG-Hermes official source noted that once the group obtains the shareholders' approvals, all the necessary procedures to conclude QInvest acquisition deal would be then completed. Dr. Ashraf Al-Sharkawy, the chairman of Egyptian Financial Supervisory Authority (EFSA), had stated that EFG-Hermes did not provide the required information and further disclosures including the fate of minority rights after the deal is completed as well as the financial mechanism regarding dividend distribution. Al-Sharkawy noted that the EFSA has asked EFG-Hermes for more disclosures including the future of the group, its capital and fate of its minority, but it did not respond yet. Talaat Moustafa Group: Talaat Moustafa Group (TMGH.CA) inched lower by 0.43% to hit EGP 4.58. Commercial International Bank: The shares of Commercial International Bank- Egypt (CIB) (COMI.CA) fell 0.03% to reach EGP 29.06. Orascom Construction Industries: Orascom Construction Industries (OCIC.CA) maintained Sunday's levels at EGP 275.10.
