Egypt’s stock exchange climbed 1.5 percent Wednesday, with 135 company shares increasing in value and 26 decreasing in a day that saw a total of LE1 billion worth of transactions.
The EGX 30 index recorded a slight rise of 0.26 percent for the period, gaining 17 points to close at 6586 at the end of the session.
Shares in Raya Holding, Egyptian Construction Development and the Banking Company all rose by between 10 and 20 percent for the day; Media City, Orascom Telecom and Namaa Development, meanwhile, all fell by between 2 and 7 percent.
According to finance expert Mohamed Abdel Rehim, the local stock exchange has fallen slightly in recent days as a result of profit taking by investors. He expected the market to continue recouping its losses, however, in Thursday’s trading session.
Translated from the Arabic Edition.
