In the middle of Sunday’s trading session, the Egyptian Stock Exchange indexes continued to increase, fueled by purchases from Egyptian dealers, while Arab and international transactions opted to sell, amid medium trading.
The “EGX30” index increased by 1.7% to 10265 points, while the “EGX50” index increased by 1.76% to 1907 points and the “EGX30” index of weights increased by 1.56% to 12,669 points. The total return index for the “EGX30” grew by 2.02% to 4164 points.
The index of medium and small firms “EGX70 of equal weights” climbed by 1.58% to 2193 points, the “EGX100 index of equal weights” increased by 1.7% to 3146 points, and the index of excellence increased by 1.61% to 3782 points.
In a related vein, the Egyptian Stock Exchange announced the suspension of trading on three shares for a period of ten minutes for exceeding 5%, up or down, during today’s trading session: Egyptian Media Production City, Emerald for Development and Project Management, and Islamic Western Urban Development.
Mohamed Ashraf Omar Omar, the shareholder, sold 7 thousand shares in the Construction and Engineering Consultation Company at a price of 27 pounds, for a total value of 189 thousand pounds, reducing the percentage of its contribution from 5.011% to 4.978%, and the transaction was completed through Arabia Online for Securities Trading.
During last Thursday’s session, Edita companies for food industries, Ibn Sina Pharma, and Egyptian Electric Cables announced the purchase of the first 161.3 thousand treasury shares, or 0.02% of the company’s capital, the second purchase of 500 thousand treasury shares, and the third purchase of 998,955 thousand shares, bringing the total percentage of the company’s capital to 0.02%. The corporation owns 2.40% of the treasury shares’ share capital.
During the trading session last Thursday, the board of directors of Al Shams Housing and Development Company sold 175 thousand shares, and a group linked to Sidi Kerir Petrochemical Company-SIDPEC sold 500 thousand shares, while the board of directors of Pioneers Properties companies bought Urban Development, Jadwa Industrial Development, and Palm Hills.
Separately, a number of Egyptian Stock Exchange businesses published their business results for the period ending June 30, 2022, and the Egyptian Gulf Bank generated interest income of 3.8 billion pounds for the period ending June 30, 2022, compared to 3.7 billion pounds for the same time last year. Last year, there was a 4% growth rate, and net profit after tax was 406.6 million pounds, up from 320.2 million pounds, a 27% increase.
The General Company for Ceramic and Chinese Products also achieved a net loss before taxes of 67.8 million pounds during the period ending on June 30, 2022, compared to a net loss of 62.3 million pounds for the corresponding period of the previous fiscal year, resulting from the disposal of stagnant stock other than the porcelain factory, which achieves Losses of obsolescence of machinery and equipment.
Cleopatra Hospital Company generated activity sales of 1.241 billion pounds in the fiscal year ended June 30, 2022, compared to 1.276 billion pounds in the previous year, and net profit after tax was 176.5 million pounds, compared to 202 million pounds.
The Arab Developers Holding Company, on the other hand, announced that it had hired Solid Capital as an independent financial advisor to evaluate one of the group’s subsidiaries in preparation for studying the possibility of offering a portion of that company’s shares for public subscription on the main market of the Egyptian Stock Exchange.
In another context, the Egyptian Firm for Media Production City stated that it had no information or anything to substantiate the Saudi Public Interest Fund’s investment in the company.
Meanwhile, the Board of Directors of the Arab International Banking Company approved the sale of the bank’s investment in Al-Ahram Paper Company (Flora), equivalent to 8.53% of the company’s total shares, and work is underway to conclude the sale processes.
Al-Ahram Printing and Packaging Company, on the other hand, stated that the board of directors unanimously agreed to correct the company’s position regarding the validity and legality of Talaat Emad El-Din Sadiq Al-Suwaidi, Chairman of the Board of Directors, in accordance with Article (179) of Law 159 of 1981, as he may not be appointed on the company’s board of directors while serving in the House of Representatives.
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