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.
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EGX 30 slips 0.68% as Elsewedy JV wins $2.2 bln Saudi EPC contract
The EGX 30 fell 0.68% to 51,265.3 on October 13, extending a weaker tone after a 1.14% drop flagged in an analyst note a day earlier. Elsewedy Electric offered a corporate bright spot, with its joint venture securing a $2.2 billion EPC contract for the Rabigh 2 IPP expansion, according to IndexBox. Corporate flow was otherwise led by regulatory filings, with at least 8 notices on AGMs, notarized minutes or governance disclosure forms published between October 11 and October 13. Al Alamia Ceramics had meanwhile risen 3.6% despite the index decline, according to the October 12 analyst note.
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Cairo Stock Exchange — Al Alamia Ceramics Jumps 3.6% Even as EGX 30 Drops 1.14%
Al Alamia Ceramics posted the day’s top gain on the Cairo Stock Exchange, rising 3.6% to EGP 34.3 while the EGX 30 fell 1.14%. The move highlights selective appetite for construction-linked names even as a weaker pound and higher oil prices weighed on broader sentiment.