Egypt stock market hits 6 month high

Stock indexes continued to rise for the second day in a row at the end of yesterday’s transactions, hitting a six-month high prompted by intense purchases by Arab and foreign investors.

Egypt’s main index, the EGX30, climbed by 1.2 percent, gaining 91 points, and approaching a total of 7142.

Meanwhile, the price index has gone up by 0.4 percent as 103 securities closed high, with LE1.6 billion worth of transactions.

There was also a rise in leading shares by 0.4 and five percent, seen in the stocks of Orascom Telecom, Orascom Construction Industries, Hermes Group, and Talaat Mustafa. Ezz Steel shares declined by 1.8 percent.

The textile sector also saw growth, coinciding with the approval by the Ministry of Finance to pay LE150 millions in overdue subsidies.

Translated from the Arabic Edition.

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