{"id":578475,"date":"2023-01-02T02:51:41","date_gmt":"2023-01-02T02:51:41","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/02\/the-egx-was-the-middle-easts-best-performer-in-2022\/"},"modified":"2023-01-02T02:51:41","modified_gmt":"2023-01-02T02:51:41","slug":"the-egx-was-the-middle-easts-best-performer-in-2022","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/02\/the-egx-was-the-middle-easts-best-performer-in-2022\/","title":{"rendered":"The EGX was the Middle East\u2019s best performer in 2022"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>The EGX dethrones the ADX as the region\u2019s best-performing stock market: <\/strong>The EGX was the best-performing stock market in the Middle East in 2022 thanks to a bull run in 4Q sparked by the IMF agreement that erased losses, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypt-leads-2022-gains-saudi-marks-first-annual-loss-7-years-2022-12-29\/\">Reuters<\/a> reports. The benchmark EGX 30 index ended 2022 up 22%, beating out the Abu Dhabi Securities Exchange, which gained 20.3% during the year.<\/p>\n<p><strong>The EGX was<\/strong><strong> the eighth best-performing exchange in the world<\/strong>, coming below the likes of the Venezuelan bourse, which surged 225% during the year, and Turkey\u2019s Borsa Istanbul 100, which rose 197% to record highs.<\/p>\n<p><strong>That was quite the turnaround:<\/strong> The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ddd263a4-f28f-47d4-90e2-e93c3db56a26\">announcement<\/a> of an agreement with the IMF sparked a major reversal in fortunes for Egypt\u2019s benchmark index, which by the middle of the year had been deep in bear territory and trading at its lowest level since November 2016. Since its July low, the EGX 30 has soared 69% to reach highs not seen since January 2019.<\/p>\n<p><strong>Other markets weren\u2019t so lucky: <\/strong>The Saudi Tadawul ended the year 7.1% in the red at an almost 20-month low. This was the exchange\u2019s first annual loss since 2017.<\/p>\n<p><strong>It was a turbulent 2022: <\/strong>Stock markets struggled with inflationary pressures, rising interest rates, and wary investors thanks to the ongoing war in Ukraine, Wael Makarem, senior market strategist financial services provider Exness, told the newswire.<\/p>\n<p><strong>Brace for an equally turbulent 2023: <\/strong>\u201cThe fear of an economic slowdown has gripped markets throughout the year and could extend to 2023 as a recession remains possible,\u201d Makarem said.<\/p>\n<p><strong>Read more: <\/strong>We dive into all things EGX in 2022 in our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3894b30f-35e6-43f5-9ddf-bd3ee9243712\">capital markets year in review<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The EGX dethrones the ADX as the region\u2019s best-performing stock market: The EGX was the best-performing stock market in the Middle East in 2022 thanks to a bull run in 4Q sparked by the IMF agreement that erased losses, Reuters reports. The benchmark EGX 30 index ended 2022 up 22%, beating out the Abu Dhabi [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":578476,"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":[7303],"tags":[102,68,72,164,119],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-578475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-capital-markets","tag-egx","tag-enterpriseam","tag-equities","tag-financial-markets","wpautop","entry"],"acf":{"mongo_id":"bc48ea1e-20e9-4394-9c08-70c896b45556","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/1\/6.jpg","photo_position":"above","related_issue":[578466],"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>The EGX was the Middle East\u2019s best performer in 2022 - 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\/2023\/01\/02\/the-egx-was-the-middle-easts-best-performer-in-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The EGX was the Middle East\u2019s best performer in 2022\" \/>\n<meta property=\"og:description\" content=\"The EGX dethrones the ADX as the region\u2019s best-performing stock market: The EGX was the best-performing stock market in the Middle East in 2022 thanks to a bull run in 4Q sparked by the IMF agreement that erased losses, Reuters reports. The benchmark EGX 30 index ended 2022 up 22%, beating out the Abu Dhabi [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/02\/the-egx-was-the-middle-easts-best-performer-in-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-02T02:51:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/6.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\/2023\/01\/02\/the-egx-was-the-middle-easts-best-performer-in-2022\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/02\/the-egx-was-the-middle-easts-best-performer-in-2022\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"The EGX was the Middle East\u2019s best performer in 2022\",\"datePublished\":\"2023-01-02T02:51:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/02\/the-egx-was-the-middle-easts-best-performer-in-2022\/\"},\"wordCount\":270,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/02\/the-egx-was-the-middle-easts-best-performer-in-2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/6.jpg?fit=%2C&ssl=1\",\"keywords\":[\"capital markets\",\"EGX\",\"EnterpriseAM\",\"equities\",\"Financial Markets\"],\"articleSection\":[\"Capital markets\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/02\/the-egx-was-the-middle-easts-best-performer-in-2022\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/02\/the-egx-was-the-middle-easts-best-performer-in-2022\/\",\"name\":\"The EGX was the Middle East\u2019s best performer in 2022 - 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The shares will be listed for six months while the company works to meet the requirements to IPO on the exchange and\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/324.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570053,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/17\/egx-sell-off-continues-as-shares-fall-7\/","url_meta":{"origin":578475,"position":1},"title":"EGX sell-off continues as shares fall 7%","author":"enterpriseam admin","date":"17 March 2020","format":false,"excerpt":"The selloff on the EGX continued yesterday, tripping circuit breakers yet again: The sell-off on the EGX continued at pace yesterday, with the benchmark EGX30 index finishing 7.1% in the red and the wider EGX100 falling more than 6%. CIB, the EGX30 heavyweight, closed down 6.7%. Qalaa Holdings and El\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\/198.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557117,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/07\/the-egx-capital-gains-tax-wont-be-making-its-comeback-in-january-2022\/","url_meta":{"origin":578475,"position":2},"title":"The EGX capital gains tax won\u2019t be making its comeback in January 2022","author":"enterpriseam admin","date":"7 September 2021","format":false,"excerpt":"Investors are not yet facing new taxes on stock market transactions, the Finance Ministrysaid yesterday after reports in the local press fuelled speculation that the government is planning to introduce a capital gains tax on shares at the beginning of next year.What\u2019s the fuss about? Tax regulations published by local\u2026","rel":"","context":"In &quot;Capital markets&quot;","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/88.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570233,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/24\/egyptian-equities-join-worlds-top-performers-as-egx-soars-on-cbe-intervention\/","url_meta":{"origin":578475,"position":3},"title":"Egyptian equities join world\u2019s top performers as EGX soars on CBE intervention","author":"enterpriseam admin","date":"24 March 2020","format":false,"excerpt":"Egyptian equities join world\u2019s top performers as EGX soars on CBE intervention: The benchmark EGX30 joined the ranks of the world\u2019s best-performing indices yesterday, fueled by the announcement on Monday that the Central Bank of Egypt (CBE) would intervene to prop up share prices, Bloomberg reports. The EGX30 soared 6.8%\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\/267.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548314,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/03\/edita-launches-new-share-buyback-program\/","url_meta":{"origin":578475,"position":4},"title":"Edita launches new share buyback program","author":"enterpriseam admin","date":"3 August 2022","format":false,"excerpt":"Edita announces share buybacks: Edita will buy back 5% of its shares over the next two months in a bid to support its share price, it said in a disclosure (pdf) to the bourse yesterday. The EGX-listed snackmaker said it would repurchase 36.2 mn shares, a program that would cost\u2026","rel":"","context":"In &quot;Capital markets&quot;","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/131.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578558,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/04\/four-state-owned-companies-ready-to-list-with-eight-more-to-follow-egx\/","url_meta":{"origin":578475,"position":5},"title":"Four state-owned companies ready to list, with eight more to follow -EGX","author":"enterpriseam admin","date":"4 January 2023","format":false,"excerpt":"Gov\u2019t is ready to pull the trigger on listings of shares in four firms: The Madbouly government is ready to offer shares in four state-owned firms on the EGX and has eight more listings in the pipeline as it looks to reboot its privatization program, a media report suggests writes,\u2026","rel":"","context":"In &quot;Capital markets&quot;","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/62.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\/578475","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=578475"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/578475\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/578466"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/578476"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=578475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=578475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=578475"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=578475"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=578475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}