EGX stocks rise slightly despite tumultuous market
Featured
Meteorologists project the beginning of a heat wave on Thursday, with temperatures expected to rise by eight to nine...
Egyptian President Mohamed Morsy has called on political powers and Egyptians to engage in dialogue and on militants...
The H7N9 virus appears to have been brought under control in China largely due to restrictions at bird markets,...
Sinai kidnapping crisis continues to generate headlines in both Wednesday’s state-owned and independent dailies...
The Rafah border crossing between Egypt and the Gaza Strip reopened on Wednesday morning after five days of closure,...
Power went out more than once at the Cairo International Airport on Wednesday, causing some X-ray machines to go out of...
EGX stocks rise slightly despite tumultuous market
On
Thu, 21/02/2013 - 18:15
The stock exchange saw its value rise slightly by end of trading Thursday, thanks in part to strong buying trends driven by foreign investors.
The benchmark EGX 30 index, which tracks the performance of the exchange’s top 30 companies, rose 0.3 percent, or 17 points, with transactions worth LE297.8 million.
The overall market value of shares jumped LE800 million after the market capital reached LE380.9 billion by trading’s end.
The news comes as protesters call for mass civil disobedience campaigns in Cairo. A similar campaign has already crippled Port Said, with some fearing the call for action will spread to other canal communities.
Ongoing unrest has made it exceedingly difficult for traders to predict the market’s next moves.
“We cannot [make] projections amid the current political turmoil,” said Mahmoud Abdel Rahman of Premiere Securities, a Maadi-based stock broker.
Edited translation from Al-Masry Al-Youm
opinion
On 6 April, security forces clashed with hundreds of protesters, most of them from the April 6 Youth Movement, during a...
Protesters block traffic in Tahrir Square, after Security forces re-opened it, and removed barbed wires, and iron...
*Entertainment*
Eeny, meeny, miny, moe,
You're the infidel of them all. Now get out!