Telecom Egypt in focus as EGX 30 rises 0.37% on June 1
The EGX 30 closed up 0.37% at 52,853.9 on June 1, with telecoms and industrial expansion driving the news flow. Telecom Egypt launched a fibre-to-the-room service with Huawei, according to Broadcast Media Africa, after reporting strong underlying business performance for Q1 2026, WebWire said. Elsewedy Electric discussed expansion plans and new investments with Egypt's prime minister, ZAWYA reported, while keeping the language conditional around the projects. Corporate disclosures on June 1 also included results or board decisions from South Valley Cement, Medinet MASR Housing, Juhayna Food Industries and Ceramic & Porcelain, according to exchange notices.
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Qalaa Holdings led trading in Cairo with EGP 1.14 billion in turnover, yet the stock fell 6.7% in a sharply risk-off session. The EGX 30’s 2.13% drop, with 41 decliners out of 44 stocks tracked, points to a broad correction led by financials, tech and property names.
Saudi Egyptian Investment & Finance (SEIG.CA - SEIGA.CA) - Release from FRA