The Egyptian Stock Exchange indices varied, in the middle of today's session, the first session after Eid Al-Fitr, as the main index retreated under the pressure of leading stocks, led by the Commercial International Bank (Egypt), El Sewedy Electric, Cleopatra Hospital Company, Orascom Financial Holding, and Al-Qalaa Financial Advisors. Telecom Egypt, while the EGX 70 and EGX 100 index rose, amid local and Arab purchases, while foreign transactions tended to sell.
The EGX 30 index declined by 0.74% to reach the level of 10688 points, the EGX50 index rose by 0.75% to reach the level of 2124 points, and the EGX30 index of determinant weights jumped by 0.38% to reach the level of 13097 points. The EGX30 overall return index fell by 1.55% to reach the level of 4126 points.
The index of medium and small companies "EGX 70 is equal weights" increased by 0.81% to reach the level of 2179 points, and the index of "EGX 100 is equal weights" increased by 0.65% to reach the level of 3116 points, and the Nile Stock Exchange index fell by 0.06% to reach the level of 3116 points. The level of 1246 points.
In a related context, the Egyptian Stock Exchange Administration announced the suspension of trading on 16 shares for a period of 10 minutes because they exceeded the 5%, up or down, during today's trading session, and they are; Ajwaa for Food Industries-Egypt, Fawry for Banking Technology and Electronic Payments, Giza General Contracting and Real Estate Investment, Cairo Oils and Soap, El Obour Real Estate Investment, Saba International Pharmaceuticals and Chemical Industries, B Investments Holding, El Sewedy Electric, New Ismailia for Development and Urban Development - a split company, mills and bakeries North Cairo, Aluminum Arabia, United Housing and Development, Ismailia National Company for Food Industries (Foodico), Egyptian Real Estate Group, Arab Land Reclamation, Egyptian electrical cables.
In the same context, the transactions of insiders, the main shareholders and the groups associated with them varied during a trading session last Tuesday, as the Board of Directors of Alexandria Mineral Oils Companies, Cairo Housing and Development, Al-Obour Real Estate Investment, Palm Hills Development, sold 3.8 million shares, 100 thousand shares, 22850 shares, 208.5 thousand shares, respectively, and a group associated with New Ismailia Companies for Urban Development and Development - a split company, Medical Packages, Al-Orouba for Brokerage in securities, 98,843 shares, 500 thousand shares, 200 thousand shares, respectively.
The Board of Directors of Mansoura Poultry Companies, Oriental Weavers for Carpets, Al-Ahram for Printing and Packaging, Palm Hills Development, bought 10 thousand shares, 500 thousand shares, 41 710 shares, 800 thousand shares, respectively. The Alexandria Company for Mineral Oils also bought 10 shares, and bought a group Linked to Mansoura Poultry Company 79,155 shares.
In a separate context, Dice Readymade Garments Company said that the Alexandria Readymade Garments Company, wholly owned by Dice, was hit yesterday by a fire, which led to losses of some textile machinery, as well as some raw materials and the fully insured with Al-Mohandes Insurance Company, and the initial losses are estimated at 15 million fairy.
In another context, a number of companies listed on the Egyptian Stock Exchange announced their results for the first quarter of 2021, in the non-banking financial services sector, the Egyptian-Kuwaiti Holding Company achieved revenues of $ 178.6 million until the period ending March 31, 2021, compared to $ 152.3 million. Until the period ending March 31, 2020, net profit was $ 53 million, compared to $ 40.7 million during the comparison period.
Beltone Financial Holding Company achieved revenues of 76.3 million pounds during the period ending on March 31, 2021 compared to 69.8 million pounds during the period ending on March 31, 2020, and the company turned to profit by 3.8 million pounds against losses of 8.4 million pounds during the comparison period.
Meanwhile, Contact Financial Holding Company announced the consolidated results of the business for the first quarter ending on March 31, 2021, and the company achieved a consolidated net profit after deducting minority rights of EGP 109 million in the first quarter, with a growth rate of 21%, compared to the first quarter of 2020, and the company achieved A growth in the total financing portfolio to reach 8.7 billion pounds in the first quarter of 2021, a growth rate of 34% compared to the same period in 2020, which led to a growth in the net profit of the financing activity of 104 million pounds, a growth rate of 5%.
In the industrial sector, El Sewedy Electric announced its consolidated financial results for the financial period ending on March 31, 2021, and revenues reached 12.3 billion pounds during the first quarter of 2021 at an annual growth rate of 14%, and the net profit after deducting minority rights increased at an annual rate of 75% to reach 700.1 million pounds, while the net profit margin reached 5.7% during the same period.
GB Auto also announced its consolidated financial results for the financial period ending March 31, 2021, and revenues reached 6.8 billion pounds during the first quarter of 2021 with an annual growth rate of 15.9% thanks to the recovery of markets and the growth of demand for all the company's products, but it represents a decrease. Quarterly, by 5.2% due to the seasonal nature of the first quarter, which is characterized by declining demand rates, and net profit reached 298.9 million pounds during the first quarter of 2021 with an annual growth rate of 116%, reflecting the return of the comprehensive operational improvements made by the company and its efforts to reduce costs, in addition to its benefits From the decline in bank interest rates in the market throughout the year 2020 and the continuation of this during the new year, and the net profit amounted to a quarterly growth of 3.8% during the first quarter of 2021.
Misr Cement Company-Qena achieved net profits of 28.95 million pounds during the first quarter of 2021 compared to 37.89 million pounds during the same quarter of last year. And its impact on the Egyptian and international economy, in addition to the noticeable decline in demand and consumption rates along with the significant decline in cement prices in Egypt in particular, and as a result, the group witnessed a 12.62% decline in net sales to reach 712.74 million pounds.
In another matter, Cleopatra Hospitals Group announced its submission to obtain approval from the Financial Supervisory Authority, to publish an announcement of a compulsory purchase offer to acquire 100% of the shares of the Alexandria Medical Services Company (New Medical Center-Alexandria) at a price of EGP 38.53 per share. In light of the advisors of Abu Dhabi Commercial Bank (the 51.5% shareholder in the capital of Alexandria Medical Services Company) managing the bank’s exit process, which was disclosed by the bank during March 2021.
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