During Monday opening session, the Egyptian Exchange (EGX) has posted early gains of EGP 1.7 billion as the capital market has amounted to EGP 385.877 billion, according to the data compiled by Amwal Al Ghad at 10:56 a.m. Cairo time (08:56 GMT). The main index, EGX30 surged by 0.16% to hit 5578.67 p. EGX20 went up by 0.17% to reach 6502.75 p. Meanwhile, the mid- and small-cap index, the EGX70 climbed by 1.71% to reach 529.42 pts. Price index EGX100 hiked by 1.02% to hit 883.95 p. Traded volume reached 2.752 million securities worth EGP 23.033 million, exchanged 857 transactions. This was after trading in 83 listed securities; 37 declined 31 advanced while 15 keeping their previous levels. Egyptians and Arabs were net buyers seizing 61.76% and 511% respectively, of the total markets, with a net equity of EGP 863.177 thousand and EGP 67.145 thousand excluding the deals. On the other hand, the non-Arab Foreigners were net sellers seizing 33.13% of the total markets, with a net equity of EGP 930.322 thousand excluding the deals. Leading Shares: EGX's leading shares witnessed unsteady performance. Orascom Telecom Media & Technology Holding: Orascom Telecom Media & Technology Holding (OTMT.CA) jumped by 8.77% to hit EGP 0.62. Orascom Construction Industries: Orascom Construction Industries (OCIC.CA) inched higher by 0.52% to hit EGP 294.00. Egyptian investment authority GAFI has approved the method Orascom Construction plans to use to value its business lines before splitting them into two companies, Orascom said on Monday. It said it would now file documents to the Egyptian Financial Services Authority to issue shares in its fertilizer arm, the business being separated from its construction activities. "The remaining regulatory requirements to complete the demerger are procedural in nature and are expected to be complete during the fourth quarter," it said. Commercial International Bank: Commercial International Bank- Egypt (CIB) (COMI.CA) surged by 0.16% to reach EGP 31.85. Citadel Capital: Citadel Capital (CCAP.CA) dipped by 0.85% to reach EGP 3.50. Talaat Moustafa Group: Shares of Talaat Moustafa Group (TMGH.CA) went down by 0.65% to hit EGP 4.57. Orascom Telecom Holding: Orascom Telecom Holding (OTH) (ORTE.CA) fell by 0.54% to reach EGP 3.65. Orascom Telecom - OT announced Wednesday that it will go on completing the necessary procedures to go for the international arbitration against People's Democratic Republic of Algeria in respect of the unlawful actions taken since 2008 by the Algerian government against Orascom Telecom Algerie (OTA) – Djezzy. Khalid Al Leithy, Deputy Chief Finance Officer of Orascom Telecom - OT, said the company will continue completing the arbitration procedures so as to reach a solution with the Algerian government. “If Vimpelcom reaches a settlement with the Algerian government, Orascom will not go for the International arbitration." Al Leithy added Leithy said talks between Vimplecom and the Algerian government on acquiring a controlling stake in Djezzy are continuing, but he noted that: “Orascom will not accept to give up the group's right to manage its Algerian unit." Al Leithy also mentioned that both Orascom and Vimplecom seek to end all the pending issues with the Algerian government without giving up their legal and financial rights to manage Djezzy. EFG-Hermes: EFG-Hermes Holding (HRHO.CA) slumped by 0.15% to reach EGP 12.89. Cairo Criminal Court, headed by Judge Mohamed Reda Shawkat, adjourned Saturday the consideration of the market manipulation case of which the sons of the ousted president Hosni Mubarak, Alaa and Gamal as well as EFG-Hermes CEOs Hassan Heikal and Yasser El Mallawany face charges alongside 5 other businessmen. The court was adjourned until Saturday 7/10/2012.
