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Egypt Market News	Search Country:
[2007-08-09] CIB shares lift Egypt market after profit growth CAIRO, Aug 8 (Reuters) - Shares of Egypt's Commercial International Bank (COMI.CA: Quote, Profile, Research)(COMIq.L: Quote, Profile, Research) gained more than 2 percent after the bank's first-half profit jumped, helping lift Egypt's stock indexes for a second consecutive day. The bank said late on Tuesday its first-half profit surged 64 percent to 635.4 million Egyptian pounds ($112.7 million), boosted by a one-off gain and higher fee income. The share climbed 2.2 percent to 68.25 pounds. "The results were above expectations even if you exclude the one-off gain," said Mohamed Ashmawy, senior equity sales trader at CIBC Brokerage. The share's fair value could be as high as 77 pounds based on the bank's expected growth, Ashmawy added. Shares of AlWatany Bank (WATA.CA: Quote, Profile, Research) extended gains, climbing 0.5 percent to 53.51 pounds. The chairman of Commercial Bank of Kuwait (CBKK.KW: Quote, Profile, Research), Abdul-Majeed al-Shatti, told Reuters on Tuesday CBK and a local partner could offer as much as four times book value for a 70 percent stake in the bank. CBK said on Wednesday it had not yet made a decision on how much to offer. Housing and real estate stocks also rallied as traders deemed them oversold after they fell on Tuesday. Shares of United Housing (UNIT.CA: Quote, Profile, Research) jumped 6.6 percent to 19.01 pounds. copyright(c) 2007 Source: copyright(c) 2007 Reuters.com
[2008-08-15] Egyptian bank posts record $577m profit [2008-08-11] Egypt bourse at 9-mth low, Talaat Moustafa slides [2008-08-07] Egypt stocks higher, SODIC rises on land purchase [2008-08-06] Mobinil falls after UBS report, Egypt stocks down [2008-08-05] CORRECTED - Inflation, global stock decline hit Egypt's bourse [2008-08-04] Egyptian stocks fall despite foreign interest [2008-08-01] CIB shares surge after dividend, lift Egypt index [2008-07-29] Orascom Construction leads Egyptian shares up, OT dips [2008-07-22] Zain offers 60% discount on SMS to Egypt [2008-07-21] Uncertainty continues to drive down previous gains on Cairo bourse [2008-07-16] OCI sends Egyptian indexes higher, OT drops [2008-07-11] OCI leads Egypt bourse to a second day of gains [2008-07-10] Egypt's main stock index ends losing streak, OT up [2008-07-07] Egypt shares continue decline on global market woes [2008-07-04] Egypt shares fall with international markets [2008-06-20] Egypt bourse continues fall, telecoms lead [2008-06-19] Egypt's Naeem says to start $19 mln pre-IPO fund [2008-06-03] Arab investors send Egyptian bourse down [2008-05-16] Egypt index tumbles, Orascom leads falls [2008-05-09] Egypt inflation peaks to three-year high of 16pc [2008-05-06] Egypt's Maridive jumps on debut, Cotton Ginning up [2008-05-02] Al Qaeda's Bear Market [2008-04-23] Orascom Telecom weighs on Egypt stock index [2008-04-18] OT leads Egypt bourse up after buyback offer [2008-04-11] Big caps pull Egypt bourse down, foreigners sell [2008-04-03] BNP Paribas Egypt 2007 net profit surges 193 pct [2008-03-31] Egypt bourse up on OT market rumours [2008-03-27] Egypt preparing to let pension funds buy equities [2008-03-07] Foreign buying boosts Egypt bourse, Raya surges [2008-02-18] Egypt bourse inches up, Egyptian Financial surges [2008-02-15] BLOM Bank Egypt's year profit surges 73 percent [2008-02-12] Orascom Construction pulls Egyptian stocks down [2008-02-05] Egypt stock market to launch ETF, derivatives [2008-02-01] Big caps push Egyptian bourse up, EFG-Hermes leads [2008-01-31] OT M&A speculation helps Egypt bourse inch higher [2008-01-30] Egypt bourse climbs on foreign buying, CIB leads [2008-01-29] Egypt indexes slide on global markets falls [2008-01-24] Egypt shares jump, reversing slide [2008-01-23] Egypt shares sink with falling global markets [2008-01-22] Global sell-off hits Egypt indexes, OT tumbles [2008-01-21] Egypt shares dip on regional and global selling [2008-01-18] Egyptian shares fall in second day of profit-taking [2008-01-14] Egypt's Arabia Cotton says to acquire 4 companies [2008-01-09] Egypt bourse slightly up, Talaat Mustafa leads [2008-01-07] Gulf Shares Gain on Earnings Outlook; Egypt's CASE 30 Climbs [2007-12-27] Ahli United Bank (Egypt) Launches 'MyDaily Account' [2007-12-14] OCI boosts Egypt stock index for second day [2007-12-11] Egypt shares lower as Orascom Construction weighs [2007-12-07] Egyptian shares hit new record, OT in the lead [2007-12-06] Orascom Construction powers Egypt shares to record [2007-12-03] CORRECTED-Barclays Egypt makes $8.3 mln in third quarter [2007-11-28] Egypt bourse flat, Medinet Nasr lifts housing stocks [2007-11-20] Largest Real Estate Developer To List On Egypt Stock Exchange [2007-11-13] Egyptian stock indexes inch lower on IPO [2007-11-08] Egypt indexes steady as investors prepare for IPO [2007-11-01] Egyptian stock rally falters, Arabs sell [2007-10-26] Egypt stock indexes at all-time high, SODIC leads [2007-10-25] Banking shares help push Egypt bourse to new highs [2007-10-23] Egyptian indexes slip on limited big-cap slide [2007-10-18] Egypt stocks drop for first time in 7 sessions [2007-10-05] Foreign buying sends Egyptian bourse up [2007-09-29] Egyptian shares extend gains, CIB leads [2007-09-27] Egypt shares rise after IFC report, OCI gains [2007-09-26] Egypt indexes fall, Orascom Telecom leads [2007-09-25] Egypt indexes extend drops, OCI weighs [2007-09-24] Egyptian shares edge down amid profit-taking [2007-09-21] Profit-taking sends Egyptian shares down, CIB hit [2007-09-19] Egypt's CASE, Nordic OMX eye Cairo derivatives [2007-09-17] Blue-chips lift key Egypt index to all-time high [2007-09-14] Egyptian cotton has market in Santa Catarina [2007-09-13] Egypt inflation at 8.5 pct, above expectations [2007-09-03] Egypt's Naeem to launch mortgage [2007-08-31] Real estate boosts Egypt shares, Heliopolis leads [2007-08-28] Corn Market Recap [2007-08-24] Egypt shares tend up, banking sector bullish [2007-08-21] CIB shares lift Egypt market after profit growth [2007-08-13] Egypt's Raya Holdings Q2 net rises sevenfold [2007-08-10] Islamic finance yet to make a mark in Egypt [2007-08-09] CIB shares lift Egypt market after profit growth [2007-08-03] Egypt's indexes fall with world markets [2007-08-01] Egypt's indexes decline as CIB and OCI slide [2007-07-30] Egypt’s indexes decline [2007-07-23] DAMAC Reinforces its Presence in Egypt [2007-07-17] Egypt's shares inch up, OCI down after N.Korea deal [2007-07-13] Egyptian shares edge down on profit taking [2007-07-10] Emerging Market Stocks Climb for 8th Day: Samsung Leads Rally [2007-07-09] Egypt to open up fixed-line market [2007-07-06] Egypt to make domestic debt Euroclearable - Finmin [2007-07-05] Egypt USD10bn FDI this year [2007-07-04] Egypt to open up fixed-line market [2007-06-29] Orascom Shares Buoy Egypt Stock Indexes [2007-06-28] Egyptian bank sues Israel for dividends [2007-06-27] Event to showcase business opportunities with Egypt [2007-06-25] Bear bond market prices slump further [2007-06-22] US $200 million aid to Egypt held [2007-06-11] Kuwait takes part in USD3bn oil investments in Egypt