Egypt expresses 'deep dissatisfaction' to Netherlands over embassy attack    Global pressure mounts as Gaza fighting intensifies and death toll surges    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    At TICAD, Egypt's education minister signs pacts with Casio, SAPIX    Egypt holds special importance for our investments across diverse sectors: Japanese minister    Cairo, Tokyo sign LOI to expand educational cooperation, support for persons with disabilities    Madbouly invites Japanese firms to establish industrial zone in SCZONE    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Al-Sisi meets Qatar PM, Bahrain security adviser to discuss Gaza crisis, regional stability    Indian tourist arrivals to Egypt jump 18.8% in H1-2025: ministry data    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    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.



Case lifts price limits on 50 stocks
compiled Published in Daily News Egypt on 23 - 12 - 2007

CAIRO: The Cairo and Alexandria Stock Exchange (Case) trading committee decided Monday, Dec. 17 to add 50 stocks to the list of companies traded without price limits.
The decision took effect starting Sunday's trading session, bringing the total number of companies trading without price limits to 152.
Sources told Al Masry Al Youm that the bourse's decision came after carefully studying several memos submitted to the Case requesting that price limits be removed from stocks in order to invigorate trading of the listed companies and increase liquidity in the market.
The move is also meant to counter manipulation of stocks that are allowed to move up and down by 5 percent on a daily basis, a source told the paper. Sources explained that these stocks are sometimes used by some traders to make "unrealistic profits by deceiving individual investors. The stocks are collected over several consecutive days, leading prices upwards by the permissible 5 percent each day and then selling it to take in huge profits, bringing the price back down.
Mohamed Fouad, institutions desk director at Prime Securities, told Reuters that this decision helped restore some supply-demand balance.
"This is a very positive measure and will limit speculation operations on small caps, he added.
Ghabbour Auto, the only listed auto firm and one of the 50 companies, gained 3.34 percent to LE 54.50.
Egypt's main indexes rose on Sunday in relatively low-volume trading after the Eid Al-Adha holiday, led by big caps amid strong Arab buying, brokers told Reuters.
The benchmark Case 30 index rose 1.2 percent to 10,380.13 points. The Hermes index was also 1.2 percent up to 91,079.47 points. The broader CIBC index gained 1.1 percent to 393.79 points.
The 50 companies now trading without price limits:
1. GB AUTO2. Remco for Touristic Villages Construction3. Asek Company for Mining - Ascom4. El Nasr Transformers (El Maco) 5. Rowad Tourism (Al Rowad)6. Tourism Urbanization7. Arab Investment Urbanization8. Rubex Plastics9. Northern Upper Egypt Development & Agricultural Production10. Zahraa Maadi Investment & Development11. El Nasr For Manufacturing Agricultural Crops12. Cairo Investment & Real Estate Development13. National Housing for Professional Syndicates14. Delta Insurance15. International Co. For Investment & Development16. Egyptian Chemical Industries (Kima)17. Cairo Oils & Soap18. Gharbia Islamic Housing Development19. National Glass & Crystal Co.20. Nasr Company for Civil Works21. Sharkia National Food22. Ismailia Misr Poultry23. Egyptian Real Estate Group24. Lecico Egypt25. Paper Middle East (Simo)26. El Wadi for Exporting Agricultural Products27. General Company For Land Reclamation, Development & Reconstruction28. Helwan Cement29. Mohandes Insurance30. International Agricultural Products31. National Investment & Reconstruction32. Natural Gas & Mining Project (Egypt Gas)33. Arab Aluminum34. Acrow Misr35. Cairo Pharmaceuticals36. Ameriyah Cement37. Misr Conditioning (Miraco)38. Misr Duty Free Shops39. Kafr El Zayat Pesticides40. Egyptian Real Estate41. Pharco Pharmaceuticals42. Egyptian Sponge43. TransOceans Tours44. Mansourah Poultry45. Alexandria Flour Mills46. Saudi Egyptian Investment & Finance47. Misr Hotels48. Alexandria Medical Services49. Arab Pharmaceuticals50. Ahli United Bank-Egypt

Clic here to read the story from its source.