Orascom Telecom tops last week’s trading
Orascom Telecom headquarter in Cairo - YOUM7 (Archive)

CAIRO: Orascom Telecom Media and Technology Holding ranked first among the 10 most active companies in the Egyptian Exchange last week, with a total trade volume registering 431.2 million trades at 558.2 million EGP (U.S. $80.1 million).

In second place, Amer Group (AMER) registered 344.3 million trades at 477.3 million EGP, while the Egyptian for Tourism Resort (EGTS) registered 141.2 million trades at 237.3 million EGP.

Arabia Investments and Development and Financial Investment Holding Company (AIND) ranked fourth, with 96.1 million shares at 237.3 million EGP. In fifth, Palm Hills Developments (PHDC) with 88 million trades at 297.9 million EGP.

The Egyptian Electrical Cables (ELEC) ranked sixth, registering 82.4 million shares at 106.4 million EGP, while at seventh, Arab Cotton Ginning Co (ACGC) with a total trade volume registering 62.4 million trades at 374.9 million EGP, followed by Arabia Global Telecom Holding that registered 41 million trades at 204.4 million EGP.

The Egyptian Exchange’s indexes collectively rose during last week’s trading sessions, and the benchmark index EGX30 registered 8,125 points, reaching the highest price level since September 2008.

The market rose despite the resignation of former Prime Minister Hazem al-Beblawy’s government.

The Commercial International Bank’s shares edged higher Sunday to a price of 37.44 EGP registering its highest price to close at 36.60 EGP on Thursday. Talaat Moustafa Group Holding Company’s shares rose Monday to its highest price since 2011, 8.09 EGP, and closed at 8.04 EGP.

The broader EGX70 index of the leading smaller and mid-cap enterprises succeeded to edge higher, registering its highest level since January 2011 at 666 points, but the strong  profit- taking transactions led the index edge down Thursday, registering 651 point, Ihab el-Saeed, the head of technical analysis at Osool ESB for Securities’ Brokerage told Youm7

Concerning next week, Saeed predicted the Egyptian Stock Exchange main index EGX30 would hit between 8,200-8,500points, while the broader EGX70 would hit between 660-665 points.

Originally published in Youm7.

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