Egyptian Stock Market Indices Rise Following Tuesday's PlungeSource: www.export-egypt.com 6/6/2018, Location: Africa |
|
|
|
|
|
The Egyptian Stock Exchange saw a rise in its indices morning's trading, following a sharp downturn.
The benchmark EGX30 index increased by 0.42 percent to hit 16,089 points. The small- and mid-cap EGX70 index increased to 0.16 percent, while the broader EGX100 index increased by 0.18 percent. The Egyptian Exchange (EGX) ended in the red after a sharp downturn as market capitalisation lost EGP 15.5 billion, closing at EGP 912.12 billion, amid reports of an upcoming hike in energy prices. Moatassem Al-Shahidy, a board member of a security brokerage company, says the huge plunge in Egypt's stock market was driven by many investors, funds and companies' decisions to liquidate large amounts of their portfolios in preparation for the Egyptian government's planned offerings of state-owned companies in the stock market, according to state-owned MENA news agency. "The stock market performance witnessed a decline as investors started to sell off stocks after the government announced its plan to offer shares of a number of state-owned companies during the second half of this year," Al-Shahidy said in statements to MENA.. He pointed out that the government offerings will increase the stock market's liquidity, as each offering will stand at least EGP 1 billion. |
|
|
Financials and Investment News in Egypt >> |
 |
|||||
|
Egypt >> 9/19/2024 - Egypt is having a special participation at the IFTM-Top Resa exhibition, which lasts until Sept.19 in Paris.
Egypt’s pavilion has more than... |
Egypt >> 9/18/2024 - On his first visit around the region since his appointment, Jalel Trabelsi, the Special Envoy of the African Development Bank (AfDB), praised Egypt's ...
|
|
Egypt >> 9/18/2024 - On his first visit around the region since his appointment, Jalel Trabelsi, the Special Envoy of the African Development Bank (AfDB), praised Egypt's ...
|
Egypt >> 9/18/2024 - Benchmark index EGX 30 was up 0.61 percent to 30,342.46 points, with the Shariah index climbing by 0.20 percent to reach 2,879.64 points.
E... |
|
Egypt >> 9/18/2024 - The British company Globeleq is set to collaborate with the Egyptian government in establishing a substantial project for green hydrogen production, a...
|
Egypt >> 9/18/2024 - Deputy Prime Minister and Minister of Health and Population Khaled Abdel Ghaffar asserted the importance of cooperating with South Africa in the field...
|
| Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | |
