Egypt: EGX concludes Sunday's session with varied note
Arab Finance: The Egyptian Exchange (EGX) showed a mixed performance on Sunday, with the EGX30 index falling by 0.60% to 32,500.03 points.
Meanwhile, the Sharia-compliant index, EGX33 Shariah index, went up by 0.78% to 3,360.24 points.
Both the EGX70 index and the EGX100 index ended the session higher by 0.61% at 9,564.81 points and by 0.48% at 13,012.44 points, respectively.
EGX's turnover stood at EGP 4.198 billion through the exchange of 1.307 billion shares in 105,610 transactions. The market cap reached EGP 2.293 trillion.
Retail investors controlled 77.80% of the total trading, while the institutions accounted for the remaining 22.19%.
Arab and foreign traders represented 4.65% and 2.44% of the trading transactions, respectively, while Egyptian investors equaled 92.91%.
Egyptian and Arab traders were sellers with EGP 14.320 million and EGP 4.881 million, respectively. Foreign investors were buyers with EGP 19.210 million.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
3 hours ago
- Khaleej Times
Trump has no plans for Musk call: White House official
US President Donald Trump has no plans to speak to billionaire Elon Musk on Friday, a senior White House official said, scotching reports of a possible call to smooth over their blazing public row. "The president does not intend to speak to Musk today," the White House official told AFP on condition of anonymity. After earlier reports of a scheduled peace call, stock futures turned higher as well, with those on the SP 500 up 0.4 per cent. Tesla's shares were up around 5 per cent in Frankfurt on Friday, having closed down 14.3 per cent on Thursday in New York, losing about $150 billion in market value. Markets were affected as the US President and the world's richest man went into an all-out brawl, as the world watched the two hurl accusations and snub each other on social media platforms.
Zawya
5 hours ago
- Zawya
ThinkMarkets launches a new loyalty programme for its clients
ThinkMarkets ( a leading FSCA regulated broker, recently announced the launch of ThinkRewards, its new loyalty programme, designed to recognise and reward both new and existing clients in South Africa who trade with ThinkMarkets on a recurring basis. The programme allows clients to earn points through their trades, with points for special occasions, events, referrals, and more coming soon. The more points a trader accumulates, the higher they can climb through the tiers and redeem them for trading credit or cash. There are five status tiers: Classic, Silver, Gold, Platinum, and Diamond. All clients begin with Silver Status and can earn points over time to progress through the tiers, unlocking more points and greater rewards. ThinkRewards is available to South African clients on its flagship platform, ThinkTrader. The programme is entirely automated and can be accessed via ThinkMarkets client portal. Commenting on the launch, co-CEO of ThinkMarkets, Nauman Anees, said: "At ThinkMarkets, we're committed to recognizing our loyal South African traders and rewarding them every time they trade. Our success relies heavily on maintaining a happy, loyal client base, so it's important for us to continually explore new ways to encourage them to stay. That's why we're excited to launch initiatives like ThinkRewards, designed to enhance the trading experience on ThinkTrader and provide even more value to our clients.' To find out more about ThinkRewards, including the opportunity to earn 3x points on popular instruments traded each NFP Friday, visit ThinkMarkets' website here ( Distributed by APO Group on behalf of ThinkMarkets. Contact: Phone: +4402035142374 Email: pr@ About ThinkMarkets: ThinkMarkets is a global, multi-regulated online brokerage established in 2010, offering clients quick and easy access to 4,000+ CFD instruments across FX, indices, commodities, equities, and more. ThinkMarkets has offices in London, Melbourne, and Tokyo, and hubs in the Asia-Pacific, Europe, and South Africa. It also operates with several financial licences around the globe and delivers some of the industry's most recognised trading platforms, including its award-winning platform, ThinkTrader.
The National
5 hours ago
- The National
'Trumped' again: Taking stock of Tesla's market ups and downs
Tesla Motors' stock price is taking a beating again, this time because of the very high-profile squabble between chief executive Elon Musk and US President Donald Trump. Its 15 per cent decline on Thursday reflects the volatility that shadows the company's shares, which remain vulnerable to everything from market trends to short tweets, especially from Mr Musk. Now, with his increasingly bitter fight with Mr Trump, Mr Musk might find himself on the short end of the stick: once a trusted adviser, he has now fallen out of favour with his blitz of criticism over Mr Trump's "big, beautiful" budget bill. Mr Musk derided it as a "disgusting abomination". His gripes won't surely sit well with a "very disappointed" Mr Trump, who is notorious for getting back at his critics. Mr Musk curried favours during his time in the US administration, securing contracts and deals for his companies. Those favours are now likely up in the air. Mr Trump had already suggested that one way to save "billions and billions" is to "terminate" Mr Musk's government subsidies and contracts. It's a spectacular U-turn for the once allies; Mr Trump said he even bought a Tesla to show his support for Mr Musk. Losing the White House's support would be "terrible for Tesla, which is being eaten alive in Europe and Asia by Chinese competition, and Elon Musk's irritating involvement in politics", said Ipek Ozkardeskaya, a senior analyst at Swissquote Bank. She pointed out that Mr Musk would need the President's support, especially for Tesla's self-driving cars and Robotaxis, which "need friendly legislation to thrive". "Legislation is Trump. The hype around Tesla is not looking good," she added. Tesla's shares were up nearly 5 per cent in premarket trading on Friday amid reports of a scheduled call between Mr Trump and Mr Musk to end the spat. While Tesla's stock still remains slightly above its level when Mr Trump won his second presidency in November – Mr Musk splashed $250 million to help ensure that – it's now uncertain how the Musk-Trump clash will affect its share price moving forward. Here are some of the biggest movements in Tesla's stock history. July 24, 2024: Competition heat Tesla's stock dove 12 per cent to $215.99 after its second-quarter financials disappointed, with revenue sliding 7 per cent. The EV maker began feeling the heat from intense competition, most notably from China, as BYD famously overtook it as the world's biggest EV maker in the fourth quarter of 2023 and, subsequently, for the entirety of 2024. October 24, 2024: 22% blitz After solid third quarter financials that saw Mr Musk boldly projecting up to 30 per cent more sales in 2025, Tesla's stock rocketed nearly 22 per cent, putting investors at ease. This was the biggest single-day gain in more than a decade, which also added $150 billion to the company's market value. November 11, 2024: Tesla gets 'Trumped' Tesla gained nearly 9 per cent to $350 as investors expected the alliance between Mr Musk and the then president-elect Mr Trump to further boost its stock. The world's wealthiest person threw in about $250 million into Mr Trump's campaign to help the latter recapture the White House earlier that month. January 2, 2025: New Year's peeve After a series of highs, Tesla came back down, starting the new year with a more than 6 per cent drop to $379.28 after deliveries posted their first decline in a decade. This was also the first time the stock went below the $400 level in nearly a month. February 11, 2025: BYD strikes again After the previous coups, BYD once again hit Tesla, this time as it partnered with fellow Chinese company DeepSeek – famous for putting a dent into the auras of OpenAI and Nvidia – to utilise artificial intelligence in autonomous vehicles. That caused Tesla's stock to shed 6.3 per cent to $328.50. March 10 to April 9, 2025: Tariff see-saw The beginning of the Trump tariff effect: on March 10, Tesla's stock slid more than 15 per cent to $222.15, amid concerns and uncertainty around Mr Trump's planned tariffs. It didn't last long, as the company's share price worked its way back up, peaking – for this period – at $288.14 on March 25, as Mr Trump signalled he might scale back some of the levies. Mr Trump unveiled his Liberation Day tariffs on April 2. By April 8, investors were now raising concerns on how the company would cope with them: that combination pulled down Tesla's shares nearly 5 per cent to $221.86, its lowest since the March 10 slide. This time, it seemed like a blip: the following day, April 9, Tesla shares soared more than 22 per cent after Benchmark Company analyst Mickey Legg dismissed the sell-off as 'overblown'. April 21, 2025: Dogged by Doge Tesla shares gave up almost 6 per cent analyst fears that there was an 'continuing brand erosion' stemming from Mr Musk's role in the Trump administration. Mr Musk and Tesla had already been feeling the backlash: consumers and the general public, particularly those incensed by his federal job and budget cutting, have protested outside Tesla stores and vandalised its EVs, in addition to Tesla owners "rebranding" their cars out of protest. May 14, 2025: Tariff reprieve Tesla gained more than 9 per cent to $347.68 from the close on May 12 – the day the US and China agreed to temporarily halt their tit-for-tat tariffs. The company's stock would then remain largely steady, until Mr Musk departed from his role in the US government – leading to the public squabble with Mr Trump.
