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Egypt’s market up as foreigners buy

Stock exchange revert to gains, turnover remains low

Ahram Online , Wednesday 24 Dec 2014
Egypt’s Stock Exchange in Cairo
Traders work at Egypt’s Stock Exchange in Cairo on December 8, 2013. (Photo:Reuters)
Views: 2793
Views: 2793

Egypt's benchmark EGX30 index gained 0.64 percent on Wednesday to close at 8766.12 points, after flat-lining in the two consecutive sessions preceding it.

Foreign and Arab investors were net buyers while Egyptians were the only net sellers.

Turnover was low at LE450.5 million ($63 million).

Market bellwether Commercial International Bank (Egypt) gained 0.88 percent to reach LE47.92.

Telecom Egypt, another big cap, gained 0.34 percent to close at LE11.97.

Largest listed real estate developer, Talaat Mostafa Group (T M G Holding) gained 0.11 percent to finish at LE9.35.

Six of October Development & Investment (SODIC) and Egyptian Financial Group-Hermes lost 1.88 percent to LE14.63 and 0.7 to LE15.68 respectively.

The broader EGX70 index gained 0.46 percent.

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