Latest in Tag: bourse Highlight

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Latest in Tag: bourse


Egypt bourse lifts restrictions on GDR deals as FX crunch eases

Egypt’s bourse on Tuesday officially eliminated restrictions on GDR deals, in a sign that the FX crunch that hit the most populous Arab country has been solved, according to a press release issued by the Egypt Exchange. The bourse said that its board of directors decided to remove restrictions that force the proceeds of global …

Elsayed Solyman

Egypt bourse hits 8-week low

Reuters – Egypt’s main index dropped 2.3% to its lowest close since 11 February. The benchmark has fallen 14.7% from 26 March’s five-year closing high. The sell-off came after Abdel Fattah Al-Sisi said he would run for president; investors, most of whom favour Al-Sisi, had bid up the market ahead of the announcement and took …

Daily News Egypt

Egypt bourse rebounds

Reuters – Egypt’s index, which had lost 8% of its value in the previous three sessions, rebounded on Tuesday to close 1.5% higher. The dip was a result of profit-taking by investors who had built up positions in anticipation of former army chief Abdel Fattah Al-Sisi’s run for president. Sisi, who investors hope will stabilise …

Daily News Egypt

Egypt’s Suez Cement Raises Dividend

Reuters – Suez Cement, Egypt’s biggest listed cement maker by market value, will pay a cash dividend of EGP 2.65 ($0.38) per share, it said in a statement published on the bourse on Tuesday. The company, which lists Italcementi Group as its main shareholder, said it would make the payment in two phases. One pound …

Daily News Egypt

Egypt’s bourse posted its biggest percentage loss in seven months

Reuters – Egypt’s bourse posted its biggest percentage loss in seven months on Monday as local investors continued to book profits on positions built in anticipation of former army chief Abdel Fattah al-Sisi’s run for president. The main Cairo index tumbled 3.6% to 7,805 points, dropping for a third session in a row, as all but two of …

Daily News Egypt

Dubai bourse to hold roadshow in London

Reuters – Bourse operator Dubai Financial Market (DFM) will hold a roadshow for international investors in London together with Goldman Sachs to showcase companies listed in the emirate, it said on Monday. Executives from 13 companies listed on the DFM and NASDAQ Dubai will meet investors on April 28-29, it said. United Arab Emirates bourses …

Daily News Egypt

Egypt stocks continues to drop

Reuters – The Cairo bourse, which dropped 2.7% last Thursday after Sisi said he would run for president, fell a further 1.9% on Sunday to trim 2014 gains to 19%. But there were signs the correction was slowing and the market closed above the intraday low. “Towards the end of today we saw a bit …

Daily News Egypt

Dubai Investments to lift foreign ownership cap to 35%

Reuters – Dubai Investments, a diversified manufacturer and investor in property, plans to increase the limit on foreign ownership of its shares to 35% of its total capital, the company said on Sunday. Foreign investors now hold 13.7% of Dubai Investments’ shares out of the total 20% allowed, bourse data shows. The firm’s shareholders, including …

Daily News Egypt

Egypt bourse retreats on political uncertainty

Reuters – Egypt’s bourse retreated because of uncertainty over the timing of a hoped-for presidential bid by Field Marshal Abdel Fattah al-Sisi. An  official government source said Sisi would keep his post as defence minister in a new government that is being formed after the old one unexpectedly resigned on Monday. Mohamed Radwan, director of …

Daily News Egypt