FBG tops Egypt’s brokerage ranking in July with 30.2% market share

FBG tops Egypt’s brokerage ranking in July with 30.2% market share

  
Traders work at the Egyptian stock exchange in Cairo, March 12, 2015.

Traders work at the Egyptian stock exchange in Cairo, March 12, 2015.

REUTERS/Mohamed Abd El Ghany

Financial Brokerage Group (FBG) led the brokerage ranking in Egypt during July, with a market share of 30.2%. Hermes Securities Brokerage came second with a market share of 6.4%.

Beltone Securities Brokerage ranked third with a 4.6% share, followed by Commercial International Brokerage Company (CIBC) with a market share of 4%. Cairo Capital Securities ranked fifth with a share of 3.8%.

Companies ranked from 6th to 10th are: Mubasher International for Securities, Pioneers Securities, Arabeya Online Securities, Pharos Securities, and Tycoon Securities, with market shares ranging between 2.1% and 3.3%.

Meanwhile, pundits expect the Egyptian Exchange (EGX) to continue its upward trend in August, to reach 1,100 points, with the possibility of exceeding the level, supported by continued Arab purchases that the market has been witnessing since the beginning of the year.

The EGX ended July’s trading with positive results, while its indicators achieved collective gains, ranging between about 5% and nearly 19%. The market capitalisation also increased with the support of a buying trend among Arab investors.

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