EGX30 up 1%

Egypt’s main index, EGX30, rose by 1 percent after intensive buying by local and Arab investors, while foreigners largely sold their stocks.

The stock index gained 64 points, closing the trading session at 6348 points. The price index, meanwhile, rose by a round 0.6 percent. Trading for the day totaled LE1.5 billion.

Prices of leading stocks varied. Orascom Construction Industries, Hermes, CIB, and Talaat Mustafa rose by 1-2 percent, while Orascom Telecom dropped 2 percent. Juhayna group climbed by about 5 percent on its second day of trading, reaching a value LE4.57 per stock.

The Egyptian stock market was impacted by its American counterpart, which went up by around 2.1 percent.

In other news, the Egyptian Financial Supervisory Authority is looking into an offer by Sharm Dreams Holding Company to acquire up to 100 percent of Rowad Misr for Tourist Investment.

Translated from the Arabic Edition.

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