File Photo: A trader works at the Egyptian Stock Exchange after its reopening, in Cairo March 23, 2011.(Reuters)
Egypt’s stocks closed up the trading week with oil prices recovered to register above $33 per barrel on Thursday amid expectations of a production cut.
The market’s main index EGX30 inched up 0.44 percent to record 5,986 points in a session that saw foreigners make up around a quarter of traders.
Despite foreign investors selling to the tune of LE27.7 million, heavyweight shares hit gains led by Commercial International Bank (CIB) that rose a mild 0.03 percent to close at LE31.46 per share.
Leading real estate developer Talaat Moustafa Group gained 0.38 percent to be sold at LE5.22 per share.
Egypt’s leading dairy producer Juhayna Food Industries is up 2.12 percent to register LE7.23 per share.
The company that announced earlier this week to expand its business in Egypt with an investing plan worth LE600 million, saw a net income of LE61 million in 2015.
Telecom Egypt (TE) rose 2.52 percent to close at LE6.10 per share.
Out of 163 listed stocks, 80 gained and 46 declined in a session that saw a daily turnover of LE367 million.
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