Egyptian stocks continue their upturn for the second consecutive session on Tuesday as the main index hits a nearly six-month high, recording 5,645 points. “There is wide positive sentiment among investors, foreigners in particular, that the Egyptian stock market seems to be stable, despite Islamist protests in the streets,” said Mostafa Badra, a Cairo-based market expert. The EGX30 rose slightly by 0.12 percent in a session which saw a significant daily turnover of the listed securities, worth some LE350 million (roughly $50 million). The broader index EGX70 rose 2.7 percent. “Enormous participation and the attractive prices of the small-scale shares listed in EGX70 have bolstered the index performance,” Badra told Ahram Online. The bellwether stock Commercial International Bank dipped 2.1 percent due to the profit-taking process by foreign investors who were net-sellers, with some LE28 million (roughly $4 million) in sales. Egyptians were net-buyers with some LE32 million (roughly $4.5 million). Telecom Egypt also declined 1.5 percent, as the company recently has been seeing several rumors spreading over its licence to operate the soon-to-be fourth domestic mobile services network. On Monday the company denied that it would sell its 45 percent stake in Vodafone Egypt in order to obtain the new operating licence. Property shares all went up, led by Talaat Mostafa Group (1.7 percent), Palm Hills (0.8 percent) and Six of October Development and Investment (3 percent). The heavyweight stock Orascom Telecom saw a modest rise of 0.8 percent.
GMT 11:02 2018 Tuesday ,11 December
ASE opens trading on lower noteGMT 15:40 2018 Monday ,10 December
Amman stock market closes trading at JD4.4 millionGMT 19:10 2018 Wednesday ,05 December
Index at Palestine stock market drops by less than one pointGMT 17:58 2018 Sunday ,25 November
Amman stock market wraps up trading at JD2.6 millionGMT 14:24 2018 Thursday ,22 November
Russia’s stock market demonstrates record-breaking figures in 2018GMT 11:45 2018 Tuesday ,20 November
Tokyo stocks close lower as tech issues weigh, Nissan tumblesGMT 15:08 2018 Monday ,19 November
Amman stock market wraps up trading at JD6.1 millionGMT 15:51 2018 Sunday ,18 November
U.S. stocks post weekly losses amid tech shares routMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor