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Egypt's stock market ends week higher as EGX30 rises 0.79%, adding LE 17 billion in market value
via Egypt Today2 min read
Egypt's stock market concluded the week with gains on Thursday, April 23, 2026, as the benchmark EGX30 index increased by 0.79 percent, reaching 52,375 points. Other indices also saw positive movement, with the small- and mid-cap EGX70 rising 0.74 percent to 13,819 points, and the broader EGX100 climbing 0.72 percent to 19,351 points. The EGX35-LV index edged up 0.28 percent, and the Sharia index posted a 0.25 percent increase. Market capitalization grew by approximately LE 17 billion, reaching LE 3.620 trillion from LE 3.603 trillion in the previous session. Trading was active, with a total turnover of LE 12.88 billion from about 3 billion shares traded across 234,500 transactions. Egyptian and foreign investors were net buyers, with purchases of LE 25.7 million and LE 43.7 million, respectively, while Arab investors were net sellers with LE 69.4 million. Top gainers included General Company for Ceramic & Porcelain, QALA for Financial Investments, and Egyptian Arabian Themar Co. for Securities & Bonds Brokerage EAC. Conversely, Suez Canal Company for Technology Settling, Delta for Printing & Packaging, and Misr Cement Qena were among the top decliners.
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This summary was AI-generated from a story originally published by Egypt Today.
Egypt has officially adopted the U.S. Federal Motor Vehicle Safety Standards FMVSS, a move intended to expand automotive trade with the United States and increase access to American-made vehicles and parts. The announcement was made during a visit by U.S. Assistant Secretary of Commerce for Industry and Analysis Steven Haines to General Motors' production facility in 6th of October City. He was joined by U.S. Charg茅 d鈥橝ffaires Robert Silverman, Minister of Investment and Foreign Trade Mohamed Farid, Minister of Industry Khaled Hashem, and General Motors Egypt General Manager Rohan Fernandes. Haines stated that this decision creates a clear pathway for increased U.S. vehicle and auto parts exports to Egypt, building on over $256 million in U.S. automotive exports to Egypt last year. The U.S. Embassy indicated that adopting these standards will streamline imports of U.S. vehicles and components, enhance competition in Egypt's automotive market, and offer consumers greater access to American-made vehicles and spare parts. General Motors welcomed the development, noting it provides greater regulatory certainty and has already facilitated the return of the Cadillac brand to the Egyptian market. This agreement is also expected to strengthen bilateral economic ties by supporting U.S. automotive exports and creating new opportunities for Egyptian businesses and consumers.
Egypt has strongly condemned recent threats targeting Saudi Arabia, rejecting any escalation that could jeopardize the Kingdom's security or regional stability. In an official statement, the Ministry of Foreign Affairs denounced these threats as irresponsible actions that undermine regional stability, endanger international trade, and threaten maritime navigation in vital waterways. The ministry stated that these actions violate international law, the United Nations Convention on the Law of the Sea, and relevant UN Security Council resolutions. Egypt reaffirmed its full solidarity with Saudi Arabia and other Gulf Cooperation Council member states, expressing complete support for measures taken by the Kingdom to protect its security, stability, sovereignty, and territorial integrity. The statement also emphasized the importance of prioritizing political and diplomatic solutions while adhering to international legal frameworks to achieve de-escalation and maintain long-term peace in the region.
Egypt鈥檚 Minister of Foreign Affairs, International Cooperation, and Expatriates, Badr Abdelatty, met with Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs of the United Arab Emirates, in Abu Dhabi. The ministers praised the strong Egyptian-Emirati relations, guided by the directives of Egyptian President Abdel Fattah El-Sisi and UAE President Sheikh Mohammed bin Zayed Al Nahyan, and reaffirmed their commitment to deepening bilateral cooperation. They condemned Iranian attacks on Arab states, with Abdelatty expressing Egypt's solidarity with the UAE and GCC countries, calling for an immediate halt to escalatory actions. Both officials emphasized the importance of preserving freedom of navigation in the Strait of Hormuz and rejected efforts to restrict transit through international waterways. The meeting also included discussions on regional developments in Sudan, Palestine, Syria, and Lebanon, with an agreement to maintain close coordination for regional security and peace.