A sharp divergence defined the Egyptian stock exchange today: while the EGX 30 index slipped 0.35% to 53,442.2 points, Alexandria Mineral Oils Company surged 7.0% to EGP 8.91, posting one of the strongest gains on the board. The move stood out even more because it came in a broadly negative market, with only 8 stocks up against 32 down, as oil volatility and a weaker pound — USD/EGP at 51.02, up 1.09% — shaped trading.
AMOC’s rise was not just noise. It came on the same day the EGX published the company’s board decisions, according to the exchange’s official announcements, and it was backed by EGP 396.2 million in turnover, making it one of the most actively traded names of the session. In a market where liquidity also clustered in QALA For Financial Investments at EGP 574.0 million and Talaat Moustafa at EGP 387.8 million, that combination of news flow and heavy trading gave the AMOC move more weight than a routine rebound.
Key figures
- EGX 30: 53,442.2 (-0.35%)
- AMOC: EGP 8.91 (+7.0%)
- AMOC turnover: EGP 396.2 million
- Brent crude: $89.26/bbl (-1.6% day, +1.0% week)
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