15/01/2014
Received the "referendum", up 1.1%
Egyptian Stock Exchange gains approaching 50% since the revolution of June 30
The Egyptian stock exchange Received yesterday, the first day of voting on the Constitution, up 1.1 per cent to close market index Case30 at 7196.04 point near its highest level since May 2010 at 6,953 points indicator may be bigger before reducing its gains by the end of the meeting, the Egyptian stock market gains to hit since the revolution of 30 June 2013 and even shut down today some 50 per cent, making the stock one of the sectors that reaped the gains of the recent revolution in Egypt where he was the Savior of the Egyptian stock exchange.
Market gains derived from indicators of heavy turnout by Egyptians to vote on the Constitution despite threats and some images of violence that the brotherhood supporters tried to disrupt voting, but all failed, where police and military forces were able to control and secure the large numbers who lined up to vote outside the committees. He said Mohammed Omran, Chairman of the Egyptian stock market for ' Reuters ' that what is happening is a strong indicator that people rely on the stability of the situation with the implementation of the first item in the roadmap, there is optimism to return to strong growth rates of the past '. Karim Abdel Aziz Al-Ahli management of investment funds ' market interact favorably with what is happening on the ground of political events, stock prices remained low and the pointer moves faster than prices. '' ASE data showed that the Egyptian and Arab dealings tended to sale while headed to foreign purchase transactions. Ibrahim said Ibrahim Alnemer from Naeem brokerage ' market targeting now the level of 7,700 points, heavy turnout at the referendum was a positive step for the market.
The political changes that took place in Egypt at the beginning of the second half of last year, which was the revolution of June 30 dismissed former President Mohamed Morsi and launch a new map for a better future for Egypt supported by political and popular consensus, the Egyptian stock market indicators to change led sharp losses and decline in the first half of the year to record gains in the second half. And the annual report of the Egyptian stock exchange that the Egyptian stock lost more than 54 billion pounds over the dealings of the 1st half of the year, but since 30 June 2013 and the end of the year to take a strong upward trend which he won more than 105 billion pounds for the year ending on profits of $ 51 billion to the market value of the stock 427 billion pounds at the end of the year, with profit in the second half only about 43 percent. Financial analysts said that the situation in the country in the first half of 2013, the country sliding towards the abyss, to bring political changes that occurred in the period from 30 June to 3 July for changing rudders scene and save the country which was started to descend significantly economically.
Dr. Omar Abdel Fattah expert capital markets ' that the political changes that occurred in Egypt in the second half of the year, managed to turn the tide of confidence in the economy, and investors to the stock market again, amid optimism for future map. The report said that the Egyptian stock exchange proved as investment compared to other investment vehicles, where the market has been able to exceed previous levels in January, and was ranked second in Morgan Stanley indices by 2013 and the first emerging market during the last two years. With regard to liquidity, exchange rates have maintained circulation approaching rates last year and exceeding the levels in 2011, as the volume of transactions on the market approximately 29 billion securities worth over 160 billion pounds, and the number exceeded the barrier of 2.9 million.
