EGX 30 rises 1.10% as Korra Energi jumps 19.20% on debut
The EGX 30 closed up 1.104% at 52,621.8 points on June 17, with trading shaped by corporate disclosures and a standout listing. Korra Energi jumped 19.20% on its EGX debut on June 11, according to ZAWYA, marking one of the sharpest moves among recent listings. In telecoms and technology, Telecom Egypt, the NTRA and the Arab Academy launched the first Cybersecurity Innovation Lab, according to Tech Review Africa, adding a sector catalyst to the market. Regulatory flow stayed heavy on June 17 with 10 issuer filings, including AGM minutes, board decisions and auditor-related statements.
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ELKA rose 7.3% to 1.33 EGP on Monday, defying a 1.66% drop in the EGX 30. The session highlighted selective resilience in construction names as the Egyptian pound weakened to 56.22 per dollar, pressuring heavyweight stocks.
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The EGX 30 closed down 1.66% at 48,416.9 on October 26. Primary market news led the flow, with EFG Hermes completing its role on MNT-Halan’s EGP 7.84 billion IPO, described as Egypt’s largest listing since 2021, according to Arab Finance, Gulf Business and شبكة تواصل الإخبارية. EFG Hermes is also set to begin promoting the Misr Life Insurance and Egypt Education Platform IPOs in November, while EFG Hermes and CI Capital are to lead the Banque du Caire IPO after an indicative price range was set, according to waya.media and ZAWYA via TradingView. In stocks, Abu Qir Fertilizers rose 4.00% on October 19 ahead of results, according to ad-hoc-news.de, while Juhayna secured a loan for a citrus expansion, AD HOC NEWS reported, and Talaat Moustafa Group signed a deal covering 4 Egyptian projects worth $202 billion, according to Fast Company Middle East.
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