Latest in Tag: Egyptian Stock Highlight

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Latest in Tag: Egyptian Stock

A proposal to reduce stamp tax supports the cohesion of EGX

The Egyptian Exchange (EGX) indexes strengthened at the end of last week, following a wave of decline on the back of the high-stamp tax proposal, before the Ministry of Finance suggested to bring the rate down to 0.125%. The EGX has been suffering over the past week, recording at midweek its lowest transactions since October …

Mahmoud Hashem

The Egyptian Stock Exchange in session. (DNE PHOTO)

EGX could attract falling Saudi investments, experts say

Saudi stock exchange has been witnessing huge losses for the second week respectively. According to a report issued by Al-Hayat news website, Tadawul—the stock market of Saudi Arabia—lost more than $3.5bn due to declining demand. The report added that the liquidity in the market declined by 18%, affecting the Tadawul All Share Index (TASI) negatively. …

Hisham Salah

Mubasher offers consulting for 3 deals worth EGP 150m

Mubasher Advisory for Securities is offering a package of financial consulting services to a number of companies, said board member Ehab Rashad. The companies, he explained, aim to register on the Egyptian Exchange (EGX), Nile Stock Exchange, or implementing expansions. Rashad noted that the first deal, to which Mubasher is advising, includes three deals for …

Mohamed Ahmed

EGX30 targets 13,100 points this week

Technical analysts predicted that the Egyptian Exchange (EGX) will continue to take advantage of the falling price of the pound, and aims to achieve a new record level near 13,050-13,100 points in this week’s trading after the New Year’s celebrations and Christmas holidays. The EGX30 closed at a new level of 12,824.3 points, with weekly …

Mohamed Ahmed

Devaluation of Egyptian pound increases EGX’s hopes for restoring ‘hot money’

Investment, initial public offering (IPO), and securities promotion managers have conflicting opinions over whether the devaluation of the Egyptian pound has restored the Egyptian Exchange’s (EGX) attractiveness for foreign investors, and whether the action encourages them to inject “hot money” into the stock exchange—like what had happened before 2011 and what happened mid-2013. The experts …

Mohamed Ahmed