Daily News Egypt

Travel, leisure sector fluctuates on EGX - Daily News Egypt

Advertising Area




Advertising Area




Travel, leisure sector fluctuates on EGX

Performances of sectors have suffered roller-coaster ride since the beginning of the year


Travel and Leisure sector indices decline by over 11% during Q2 2015 (Photo from EGX’s report)
Travel and Leisure sector indices decline by over 11% during Q2 2015
(Photo from EGX’s report)

Despite the Egyptian Stock Exchange (EGX) being recently hit by several domestic and international events, the performance of travel and leisure companies has fluctuated since the beginning of the year.

During the second quarter (Q2) of 2015, the travel and leisure sector indices declined by 11.78%, with the trading volume reaching 392.8m shares and the value hitting EGP 677.2m.

The travel sector indices dropped by 8.95% during April, with the volume of traded stocks registering 120.6 shares and with a total value of EGP 241m.

During May, a 1.87% surge was noticed in the sector’s indices as the trading value of stocks reached EGP 265.8m and the trading volume reached 166.1m shares. The financial services, real estate and telecommunications sectors have topped the Egyptian stock market’s list that month in terms of value of stocks traded. They recorded EGP 2.5bn, EGP 2.46bn and EGP 2.16bn, respectively.

In June, however, the sector’s trading volume totalled EGP 106.2m, with a value of EGP 170.4m, dropping throughout the month by 4.88%.  On 10 June, a militant suicide attack occurred inLuxor’s Karnak Temple that resulted in two deaths and five injuries.

Earlier this month, a militant attack took place in North Sinai on several army checkpoints.

In January 2015, the volume of stocks traded was 2.88bn with a total value of EGP 21.7bn. The following month, the volume of traded stocks declined to 2.72bn, however the value to stocks traded increased to EGP 33.87bn. During March, the volume of stocks traded registered 2.78bn, with a total value of EGP 24.19bn.

During the first quarter, the travel and leisure sector indices declined by 13.6%. According to an Egyptian Exchange’s report, the volume of stock traded in the sector amounted to 561m shares and were valued at EGP 1.8bn.

In January, the travel and leisure sector’s indices improved by 3.68%. The total number of traded stocks was 238.4m and was valued at EGP 1.04bn.Throughout February, 144.5m stocks were traded amounting to EGP 409.2m. The sector indices drooped by 12.88% throughout the month.

Around 178m shares were traded throughout March. Their value totaled EGP 358bn.

A wave of drops in the Egyptian Exchange’s main index EGX-30 began earlier this week. On Sunday, the index dropped by 1.16% to stand at 8218.25 points, despite the fact that Emaar Misr started trading its stock market. The hit on the EGX reflected on the construction company’s share, which inched down below its initial public offering price.

The decline continued throughout the week with the index plummeting by 4.23% on Monday, 1.5% on Tuesday and 2.6% on Wednesday to settle at 7550.98 points.

 

Advertising Area



Advertising Area

Advertising Area

https://www.dailynewsegypt.com/2015/07/08/travel-leisure-sector-fluctuates-on-egx/
Breaking News

No current breaking news

Receive our daily newsletter
Subscribe