{"id":570312,"date":"2020-03-26T04:11:50","date_gmt":"2020-03-26T04:11:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/26\/egx-holds-steady-after-days-of-volatility\/"},"modified":"2020-03-26T04:11:50","modified_gmt":"2020-03-26T04:11:50","slug":"egx-holds-steady-after-days-of-volatility","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/26\/egx-holds-steady-after-days-of-volatility\/","title":{"rendered":"EGX holds steady after days of volatility"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>EGX holds steady after days of volatility:<\/strong> The EGX30 crept up yesterday to close 0.97% in the green. The index dipped during morning trading after an early surge before local and regional investors helped drive a mid-afternoon rally. The EGX30 heavyweight CIB slid 0.9%, while Egyptian Resorts soared 9.4% and Kima ended the trading day up 6.5%.<\/p>\n<p><strong>Is the economic stimulus beginning to impact investor sentiment?<\/strong> The rebound (however small) is a reflection of optimism on the government's economic plan to help businesses against covid-19, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1154689d-294f-4d45-95b4-84a76d67466c\">including tax breaks for EGX investors and energy price cuts<\/a>, Faisal Brokerage's Mohamed Abdel Hakim <a href=\"https:\/\/bit.ly\/2UOulnR\">told Hapi Journal<\/a>. Investor sentiment appears to have improved although the Central Bank of Egypt (CBE) has yet to announce how it will deploy the EGP 20 bn <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7b4ddba3-8def-4cd8-bf0c-92394f17dd73\">it has pledged<\/a>.<\/p>\n<p><strong>Stock buybacks are still going strong:<\/strong> Sharkia National Food, El Wadi for Touristic Investment, and Golden Coast El Sokhna for Touristic Investment have all tapped the relaxed rules to buy treasury stocks (<a href=\"https:\/\/bit.ly\/3bo7NAF\">here<\/a>, <a href=\"https:\/\/bit.ly\/33HYZTO\">here<\/a>, and <a href=\"https:\/\/bit.ly\/3dt8GKf\">here<\/a> \u2014 pdfs).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EGX holds steady after days of volatility: The EGX30 crept up yesterday to close 0.97% in the green. The index dipped during morning trading after an early surge before local and regional investors helped drive a mid-afternoon rally. The EGX30 heavyweight CIB slid 0.9%, while Egyptian Resorts soared 9.4% and Kima ended the trading day [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":570313,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[4826,240,107,68,4864,72,164,4862,4863,312,2380,10309],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-570312","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-buybacks","tag-cib","tag-covid-19","tag-egx","tag-el-wadi","tag-enterpriseam","tag-equities","tag-faisal-brokerage","tag-sharkia-national-food","tag-sodic","tag-speed-round","tag-touristic","wpautop","entry"],"acf":{"mongo_id":"639e1f6e-54c4-44ab-97f3-a57890793c2e","is_powered_by":true,"section_story_id":"17de7040-c999-4a83-a314-fbbab09d3dcf","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/3\/302.jpg","photo_position":"above","related_issue":[570303],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>EGX holds steady after days of volatility - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/26\/egx-holds-steady-after-days-of-volatility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EGX holds steady after days of volatility\" \/>\n<meta property=\"og:description\" content=\"EGX holds steady after days of volatility: The EGX30 crept up yesterday to close 0.97% in the green. The index dipped during morning trading after an early surge before local and regional investors helped drive a mid-afternoon rally. The EGX30 heavyweight CIB slid 0.9%, while Egyptian Resorts soared 9.4% and Kima ended the trading day [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/26\/egx-holds-steady-after-days-of-volatility\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-26T04:11:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/302.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/26\/egx-holds-steady-after-days-of-volatility\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/26\/egx-holds-steady-after-days-of-volatility\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"EGX holds steady after days of volatility\",\"datePublished\":\"2020-03-26T04:11:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/26\/egx-holds-steady-after-days-of-volatility\/\"},\"wordCount\":172,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/26\/egx-holds-steady-after-days-of-volatility\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/302.jpg?fit=%2C&ssl=1\",\"keywords\":[\"buybacks\",\"CIB\",\"covid-19\",\"EGX\",\"El Wadi\",\"EnterpriseAM\",\"equities\",\"Faisal Brokerage\",\"Sharkia National Food\",\"SODIC\",\"SPEED ROUND\",\"Touristic\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/26\/egx-holds-steady-after-days-of-volatility\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/26\/egx-holds-steady-after-days-of-volatility\/\",\"name\":\"EGX holds steady after days of volatility - 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The benchmark EGX30 index fell 3.8% in the first hour of trading, before extending its\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/3\/223.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569651,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/03\/egyptian-stocks-hold-steady-following-sundays-rout\/","url_meta":{"origin":570312,"position":1},"title":"Egyptian stocks hold steady following Sunday\u2019s rout","author":"enterpriseam admin","date":"3 March 2020","format":false,"excerpt":"Egyptian stocks hold steady following Sunday\u2019s rout: Egyptian equities stabilized yesterday as global markets rebounded from last week\u2019s sell-off on hopes that central banks around the world will launch coordinated stimulus to mitigate against the economic fallout of the covid-19 virus. The EGX30 closed 0.55% in the green, led by\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/3\/36.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595492,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/29\/late-week-egx30-rebound-has-helped-to-steady-share-slide\/","url_meta":{"origin":570312,"position":2},"title":"Late-week EGX30 rebound has helped to steady share slide","author":"enterpriseam admin","date":"29 September 2019","format":false,"excerpt":"Late-week EGX30 rebound helped stymie share slide: Despite the EGX30 being the second-worst performing equity index of last week, a late-week rebound has mitigated some of the damage, with the index finishing the week down 6%, writes the Financial Times. In the first three trading days of the week, the\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/259.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":582728,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/16\/egx-suffers-biggest-single-day-loss-since-2020-on-global-banking-turmoil\/","url_meta":{"origin":570312,"position":3},"title":"EGX suffers biggest single-day loss since 2020 on global banking turmoil","author":"enterpriseam admin","date":"16 March 2023","format":false,"excerpt":"The EGX30 has fallen almost 11% this week amid panic in global financial markets","rel":"","context":"In &quot;Egyptian Exchange&quot;","block_context":{"text":"Egyptian Exchange","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/egyptian-exchange\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/8\/EGX-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570387,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/30\/egx-slips-back-into-the-red-closing-down-1-5\/","url_meta":{"origin":570312,"position":4},"title":"EGX slips back into the red, closing down 1.5%","author":"enterpriseam admin","date":"30 March 2020","format":false,"excerpt":"The EGX30 slipped back into the red yesterday, closing down 1.5% to resume a spell of volatility that has gripped the market over the past few weeks. The benchmark index had inched up 0.5% by the closing bell last Thursday and 1.0% on Wednesday. Index heavyweight CIB drove yesterday\u2019s dip,\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/3\/341.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569864,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/10\/egx-enters-bear-market-as-covid-19-oil-shock-batter-stocks\/","url_meta":{"origin":570312,"position":5},"title":"EGX enters bear market as covid-19, oil shock batter stocks","author":"enterpriseam admin","date":"10 March 2020","format":false,"excerpt":"EGX is now in a bear market as covid-19 fears and the oil shock batter stocks: The benchmark EGX30 index fell yesterday to its lowest level since October 2016 as the threat of an oil price war combined with fears about the spread of covid-19 extended the sell-off into a\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/3\/115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/570312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=570312"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/570312\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/570303"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/570313"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=570312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=570312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=570312"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=570312"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=570312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}