Cairo - Mubasher: The Egyptian Exchange (EGX) cancelled around 33 transactions on the stock of Middle Egypt Flour Mills on Wednesday’s session.

EGX attributed its decision to violating the regulations of the capital market law, which forbids manipulating stock prices by executing agreed upon transactions to give the impression of active trade on a specific stocks.

Beltone expects Middle Egypt Flour Mills to exceed the level of EGP 25, adding that it can easily reach the levels between EGP 45 to 50 by the third quarter of 2017.