Egypt’s stocks ostensibly gained Wednesday thanks to the hedge of the market’s largest listed company, Orascom Construction Industries (OCI), by a whopping 10 percent. OCI stated that its parent Dutch-listed company OCI NV received EFSA (Egyptian Financial Supervisory Authority) approval Tuesday to launch its proposed tender offer for OCI’s outstanding ordinary listed shares. OCI NV will offer all shareholders of OCI to convert an exchange offer, as well as a cash alternative of LE255 per share. The offer will launch Thursday, 27 June, and will conclude on Sunday, 28 July. The main EGX30 index rose by 2.3 percent recording 4,641 points in a session that saw foreign investors net-sellers with some LE34.7 million, driven by worry about anticipated protests closing out June. Despite that Egyptians were net-buyers, with some LE20.3 million, the broader EGX70 index dipped 0.4 percent. The market saw modest daily turnover of listed securities worth some LE183.2 million. Bellwethers Commercial International Bank, Orascom Telecom and Six of October Development and Investment Company slipped 0.5 percent per each. Financial services shares performed better, including EFG-Hermes and CI Capital rising 0.4 and 1.6 percent respectively. Ahram Online
GMT 11:02 2018 Tuesday ,11 December
ASE opens trading on lower noteGMT 15:40 2018 Monday ,10 December
Amman stock market closes trading at JD4.4 millionGMT 19:10 2018 Wednesday ,05 December
Index at Palestine stock market drops by less than one pointGMT 17:58 2018 Sunday ,25 November
Amman stock market wraps up trading at JD2.6 millionGMT 14:24 2018 Thursday ,22 November
Russia’s stock market demonstrates record-breaking figures in 2018GMT 11:45 2018 Tuesday ,20 November
Tokyo stocks close lower as tech issues weigh, Nissan tumblesGMT 15:08 2018 Monday ,19 November
Amman stock market wraps up trading at JD6.1 millionGMT 15:51 2018 Sunday ,18 November
U.S. stocks post weekly losses amid tech shares routMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor