Global Courant 2023-04-19 17:03:53
Companies offered on the scholarshipincluding Banque du Caire and Misr Insurance Company, will attract local and foreign investors, said Mohamed Maher, head of the Egyptian Capital Market Association (ECMA).
Details of companies listed on the exchange will be released next week, he added.
Maher added in televised statements that the pound’s flotation provided relatively hard currency, moving the market in a positive direction.
The market capital of Egypt’s stock exchange rose to LE1.112 trillion by the end of Sunday’s trading session, amid a collective rise in stock market indices as market capital recorded its highest historical value.
Stock indices have a long way to go to reflect the value of real assets, said Rania Yacoub, a financial market expert, noting that the stock market’s rise to LE1.112 trillion is still a long way from the true value of Egyptian assets.
