#Egypt’s bourse ends week in green following 3-year high

Egypt’s stocks augmented on Wednesday as investor worry over violence in reaction to the trial of ousted president Mohamed Morsi faded.

EGX 30, Egypt’s main index, increased by 0.71 percent on Thursday, registering 6415.82 points.

“The fact that the index fell in the morning following Wednesday’s rise and then caught up during the rest of the session indicates that buyers are stable,” Osama Mourad, an independent analyst and former chief executive of Arab Finance Brokerage told Ahram Online.

Daily turnover of listed stock recorded LE741.5 million.

The market’s four largest listed companies were all in the green.

In particular, Orascom Construction Industries jumped by 1.99 percent and Commercial International Bank increased by 1.41 percent, while Global Telecom Holding and Telecom Egypt shares inched up 0.64 and 0.14 percent, respectively.

In the red, however, were 92 shares out of a total of 188 shares.

That included Egyptian Company for Mobile Services (Mobinil) and Juhayna Food Industries, whose shares fell by 2.22 and 0.38 percent, respectively.

The broader indices EGX 70 and EGX 100 each increased by 0.22 percent.

http://english.ahram.org.eg/NewsContent/3/12/85888/Business/Economy/Market-ends-week-in-green-following-year-high.aspx

Advertisements
This entry was posted in Investors, News and tagged , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s