he Egyptian Exchange (EGX) closed with two stocks accounting for 48% of the total market turnover of EGP 2.09 billion. Beltone Holding and Heliopolis Housing both ended with a total turnover of EGP 1.02 billion, making the non-banking financial sector and real estate sector the biggest sectors in terms of turnover.
Heliopolis Housing shares surged 11.29%
Heliopolis Housing (HELI) shares surged 11.29% (+1.23) to end at EGP 12.12 per share after the company announced early in the morning that the board of directors had accepted the resignation of the company's CEO, effective August 4, 2023.
Beltone Holding surged 4.48%
Beltone Holding (BTFH) announced on July 31, 2023 that it had signed a memorandum of understanding with the objective of acquiring an Egyptian company licensed by the Financial Regulatory Authority to practice microfinance activities. Beltone will carry out a full due diligence process after obtaining the regulatory approvals that are binding to carry out this due diligence in preparation for completing the potential acquisition, whether directly through Beltone or one of its subsidiaries. BTFH ended at EGP 3.73/share +4.48%.
The EGX ended adding 246 points at the level of 17,697 point +1.41%
The EGX closed up 1.41% on August 6, 2023, adding 246 points to close at 17,697 points. The market was supported by strong corporate earnings growth and positive investor sentiment.
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