Stock market rises 3.2 percent amid calmer political atmosphere

The stock market fared well on Tuesday, prodded by the relatively calmer political atmosphere brought about by the issuing of the constitutional declaration and news regarding nominations to the new cabinet.

The stock market's main index EGX30 rose by 3.2 percent, reaching 5290 points, and the EGX70 index rose by 5.4 percent to reach 423.5 points.

Market capital reached LE352.1 billion, up from LE342.2 billion on Monday, with stocks gaining LE8.9 billion.

On Monday, EGX30 dropped by 3.55 percent, registering 5123 points. Market capital lost approximately LE10.8 billion, the second highest one-day loss in 2013.

Edited translation from Al-Masry Al-Youm

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