EGX 30 slips 0.45% despite capital gains tax exemption for EGX trades

The EGX 30 closed at 54,876.0, down 0.4524% on Aug. 10, despite an announcement that capital gains on EGX transactions will be exempt from income tax, according to CairoScene. In banking, Emirates NBD’s acquisition of HSBC Egypt’s retail business is expected to boost deposits and loans, according to TradingView. Corporate flow stayed active with 10 company disclosures dated Aug. 10, including board decisions at U Consumer Finance, Suez Canal Bank and Alexandria Containers and goods. One Aug. 6 item tied to Abu Qir Fertilizers linked to sports content and provided no usable market detail.