Egyptian Real Estate Group (AREH.CA) - Decisions of the BoD Meeting

EGX 30 drops 2.13% as Qalaa leads EGP 1.14 bln in turnover

The EGX 30 closed down 2.1348% at 51,256.7 points on June 10, while Qalaa drew EGP 1.14 billion in turnover despite a 6.7% drop, according to the market note cited in analyst reports. On the deal front, the government completed the sale of a 10% stake in Telecom Egypt in the final tranche, Ahram Online reported. Orascom Construction sealed 2 contracts tied to Cairo Metro Line 4 and the high-speed rail project, while the group also reported quarterly net income of $24.5 million, according to Ahram Online. In financing, EFG Hermes led a landmark EGP 5.1 billion corporate bond for EGP Corp-Solutions, while Cleopatra Hospital posted standalone first-quarter profit of EGP 132.8 million, according to ZAWYA and TradingView.

Cairo Stock Exchange — Qalaa Draws EGP 1.14bn Turnover Even as Shares Sink 6.7% and EGX 30 Falls 2.13%

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