Stock market earns LE2.4 bn Tuesday

Stock indices rose collectively at the end of Tuesday’s trading session with extensive purchases on blue-chip stocks, ignoring the clashes in the streets of Cairo.
The main EGX30 index rose by 1.04 percent to hit 6407.1 points, the small and medium stocks EGX70 index rose by 0.04 percent to close at 537.55 points amid intense purchases by Arab and Egyptian investors against foreign sales, and the broader EGX100 index rose by 0.27 percent to 895.39 points.
Total trading reached LE630 million and the market capital earned LE2.4 billion to close at LE414.4 billion.
Ahmed Ibrahim, a capital market analyst, predicted more rises when demonstrations end. “Investors await the return of stability to the economy,” he said.
Mostafa Adel, a financial analyst, said Egyptian and Arab investors are confident that security services are controlling the violence in the street, also predicting more rises.
Edited translation from Al-Masry Al-Youm

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