Business

Egyptian stock market rises 4.9% after army ultimatum

The Egyptian stock market was bolstered by heavy buying by Egyptian investors, earning LE11.5 billion after the Armed Forces issued an ultimatum saying that it would impose a roadmap for the future if political reconciliation failed.

The stock market's benchmark index EGX30 climbed by 4.9 percent, reaching 4986.8 points, while the EGX70 index rose by 5.7 percent, reaching 380.8 points.

Edited translation from MENA

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