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The main index of the Egyptian Stock Exchange declines in the middle of trading, under pressure from the decline in leading shares


The main index of the Egyptian Stock Exchange continued its decline in the middle of trading today, Sunday, the beginning of the week’s sessions, due to the pressure of the decline of a number of the leading stocks, led by the Commercial International Bank, El Sharkia-Eastern Company, EFG-Hermes Holding, Emaar Misr for Development, and Telecom Egypt, while the EGY indexes rose X70 and EGX100, amid the sales of Arab dealers, while Egyptian and foreign transactions tended to buy.

 

The "EGX30" index declined by 0.92% to reach the level of 9774 points, and the "EGX50" index rose by 0.04% to reach the level of 2,150 points, and the "EGX30" index of specific weights decreased by 1.1% to reach the level of 12,263 points, The "EGX30" total return index fell by 0.02% to reach the level of 3,814 points.

 

While the index of medium and small companies "EGX70 of equal weights" rose by 0.83% to reach the level of 2316 points, and the "EGX100 index of equal weights" rose by 0.39% to reach the level of 3239 points, and the Nile Stock Exchange index increased by 0.57% to reach the level of 3,239 points. Level 1299 points.

 

In a related context, the Egyptian Stock Exchange announced the suspension of trading on 23 shares for a period of 10 minutes, for exceeding 5%, up or down, during today's trading session, and they are; Zahraa El Maadi for Investment and Development, Ajwaa for Food Industries - Egypt, Egyptian for Tourist Resorts, Iron and Steel for Mines and Quarries, El Shams for Housing and Development, Sharm Dreams for Tourist Investment, Arab Forum for Investments, Egyptian for Building Industry Development (Lift Slab Egypt), Egyptian Real Estate Group, Arab Ceramics - Ceramica Remas, Delta for Construction and Development, Real Estate Investment Development, Egyptian Transport Services (EGYTRANS), Real Estate for National Development Banks, North Upper Egypt for Development and Agricultural Production (Newdap), General for Land Reclamation, Development and Reconstruction, Beltone Financial Holding, El Ezz Dekheila Steel-Alexandria, Engineering Industries Architectural for Reconstruction and Development - Icon, Egyptians for Investment and Urban Development.

 

as shares have been suspended; Mansoura for poultry, iron and steel for mines and quarries, pioneers of tourism - pioneers.

 

In the same context, the transactions of the insiders, the main shareholders and the groups associated with them varied during the trading session last Thursday, as the board of directors of the two Egyptian Real Estate Group companies, Beltone Financial Holding, sold 310 thousand shares and 360.3 thousand shares, respectively, and a group linked to the International Company for Fertilizers and Chemicals sold 5 Thousands of shares, while the board of directors of El-Nasr Companies for Civil Works, Abu Qir Fertilizers and Chemical Industries, Al-Muhandis Insurance, and the Egyptian Kuwaiti Holding bought 2500 shares, 100 thousand shares, 923 shares, 73.6 thousand shares, respectively, and a major shareholder in the Arab Company for Engineering Industries bought 170 One thousand shares, and the management of the Tenth of Ramadan Pharmaceutical Industries and Diagnostic-Rameda Company bought 45 thousand shares.

 

A group linked to Mansoura Poultry, Misr Hotels, Fawry for Banking Technology and Electronic Payments also bought 500 shares, 1924 shares, and 442.6 thousand shares, respectively.

 

Ibn Sina Pharma also bought 450,000 treasury shares during last Thursday's session.

 

The shareholder, Ali Mahmoud Abdel Latif Mahgoub, bought 342.7 thousand shares at a price of 31.663 pounds, with a total value of 10.9 million pounds, bringing his contribution ratio from 6.684% to 8.6479%, and the ratios of the stakes of the related group amounted to 10.7133%.

 

In a separate context, the Egyptian Chemical Industries Company-Kima justified that the company achieved net losses of 1.019 billion pounds for the period ending on March 31, 2021, to firstly the rise in the interest debt for financing, and negotiations are currently underway with the coalition of financing banks to reduce them during the coming period, and secondly, the company bears the burdens The depreciation of the new factory with its high capital cost at the beginning of operation, thirdly, the production process was unstable at the beginning of the project, but production was stable and the sale is under way according to international prices. Fourthly, the company bears the burden of deferred tax at 149 million pounds during the period and 915 million pounds during the past fiscal year.

 

In another context, Heliopolis Company for Housing and Development said that it had signed a contract (a financial right transfer) with the Egyptian Export Development Bank, and this was done after studying the offers received by the company from various financial institutions that applied to purchase a future rights portfolio owned by the company, and the transfer of rights is summarized at a nominal value. The total indebtedness amounted to 329.1 million pounds, and a current value of 283.9 million pounds on June 17, and the transfer of the right was signed in light of the strategic plan announced by the company.

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