Latest in Stock Market Highlight

Latest in Stock Market


Egyptian Resorts Co achieves $ 21.4m net profits in H1 of 2015

The Egyptian Resorts Co achieved a profit in the first half (H1) of 2015, reporting net profits of EGP 167.5m ($21.4m) compared to EGP 21.3m ($2.7m) in losses in H1 of 2014. However, over the first quarter (Q1) of 2015, the company’s net profits reached EGP 3.2m, marking a 73.4% decline compared to the same …

Rana Yehia

Allianz profits on track, but stock sags

Europe’s biggest insurer has confirmed its full-year earnings forecast as a result of low damage claims and gains from asset sales. But investors were unimpressed, pegging the stock lower. German insurer Allianz announced Friday it would post operating profit at the top of its target range this year, with earnings predicted to reach 10.8 billion …

Deutsche Welle

China cracks down on automated trading

As stocks in China continue slipping, the Asian country’s securities watchdog has started looking into the impact of computerized trading on the share market. It hopes to stop the current volatility of stock prices. In its latest bid to restore calm to the domestic stock markets, Chinese authorities confirmed Friday that they’d started investigating automated …

Deutsche Welle

Twitter surprises investors with strong earnings

Despite the problems facing the social media giant, Twitter has posted an unexpected jump in quarterly revenue. The company is still struggling to attract more users and is looking for a permanent CEO. San Francisco-based Twitter Inc. posted a revenue of $502 million (454.7 million euros) in the second quarter, an increase of 61 percent …

Deutsche Welle

Beijing springs to action as China shares gyrate

Asian markets were mostly down on Tuesday as Shanghai saw another day of wild volatility a day after the heaviest one-day losses in more than eight years. China's government pledged to lend further support. China's benchmark Shanghai stock index closed down 1.7 percent on Tuesday, slashing losses from earlier in the day but still defying government efforts to improve sentiment…

Deutsche Welle

Egypt index falls after deadly car bombing, Dubai hits resistance

By Olzhas Auyezov – Reuters Egyptian stocks have been on the rise since the ouster of former president Mohamed Morsi in July, driven largely by local retail investors who support the new army-backed government – but are wary of any escalation of violence. “Yesterday was a dramatic day and the country has entered a period …

Daily News Egypt

European stocks steady after Moody’s action

AFP – Europe’s main stock markets were largely steady in early trade Tuesday as positive Chinese data helped to offset ratings agency Moody’s shock decision to lower its outlook on Germany, dealers said. London’s benchmark FTSE 100 edged up 0.03 percent to 5,535.87 points, Frankfurt’s DAX 30 fell 0.26 percent to 6,402.65 points and in …

Daily News Egypt

Stock market performance surpasses analysts’ Ramadan forecast

By Fatheya Al-Garhy The Egyptian Stock Exchange (EGX) closed after the first session of Ramadan with prices maintaining relative stability, the opposite of what most analysts expected. Observers predicted that the EGX’s indices would experience sharp declines in the value of trading with the start of the holy month. The shares of Orascom Telecom Media and …

Daily News Egypt

New rules governing NILEX mentoring companies

Mohamed Omran, Chairman of the Egyptian Stock Exchange, issued a decision for rules governing mentoring companies for small and medium sized enterprises (SMEs). The decision included rules for mentoring as well as measures to be taken in the case of violations. The first article of the decision obligated companies wishing to offer mentoring services to …

Daily News Egypt

Egyptian Mortgage Refinance Company nets EGP 4.5m during Q1 of 2012

By Mohamed Darwish The Egyptian Mortgage Refinance Company (EMRC) has performed operations worth LE 60 million in the first half of the current year, and has made a net profit of LE 4.5 million in the first quarter of 2012. Managing Director of EMRC, Iman Ismail, announced that the loan portfolio of the company reached …

Daily News Egypt

Market’s main index declines due to profit taking pressures

By Fathia El-Garhy Profit taking was the title of yesterday’s session. After seven consecutive sessions on the rise, the market’s main index encountered strong resistance at 5000 points area. The volume of trading fell in value to almost half in comparison to the sessions of the previous couple of weeks, which is a positive indicator …

Daily News Egypt

Asian markets higher on Wall Street, Europe lead

Hong Kong (AFP) — Asian markets mostly rose on Wednesday following a lead from Wall Street and Europe and amid rising hopes that central banks are poised to act to boost economic growth. But the euro weakened before a European Central Bank meeting Thursday as traders waited to see if the bank would back a …

Daily News Egypt