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Wednesday, 27 January 2021

Egypt's market slightly rebounds, closes in green

The Egyptian stock exchange fell on Monday to its lowest point since December 2013

Ahram Online , Tuesday 25 Aug 2015
Egypt's stock market (Photo: Reuters)
Views: 1564
Views: 1564

Egypt's bourse witnessed a modest recovery on Tuesday with the main index EGX30 jumping 2.75 percent to 6,836 points, a day after the market suffered its biggest drop since December 2013, sinking 1.9 percent to 6,654 points.

According to Reuters, the Egyptian market is slightly rebounding in parallel with a recovering Saudi market --which dropped by 5.9 per cent on Monday-- as more stable oil prices and Asian bourses motivated some investors to buy back shares.

Saudi stocks went up by 0.8 percent in the opening minutes of Tuesday trading.

Market bellwether Commercial International Bank (CIB) gained 3.86 percent to LE48.2 per share.

The biggest gains were garnered by Global Telecom Holding, rising 6.91 percent to LE2.06 per share.

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