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Egypt's benchmark index up 0.75 pct amid Arab, foreign purchases

Ahram Online , Monday 7 Mar 2016
Egypt's stocks (Reuters)
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Views: 1175

Egypt's main index EGX30 continues to gain in Monday trading, up 0.75 percent to reach 6,261 points in a session that saw Arab and foreign investors as net purchasers.

Arab and foreign investors bought some EGP 6 million and EGP 17 million worth of shares respectively, while locals were net seller to the tune of around EGP 30 million.

Out of 166 traded shares, 62 went up while 60 declined. Daily turnover for listed securities registered EGP 449.2 million.

Most of the market's blue chips rose, led by Commercial International Bank (CIB) at 1.20 percent to be sold at LE34.45 per share.

Orascom Telecom Media and Technology Holding (OTMTH) gained 3.33 percent to close at EGP 0.62 per share.

On Sunday, Egyptian billionaire Naguib Sawiris, the owner of OTMT, told Bloomberg in an interview that the acquisition of CI Capital Holding is to be completed by the end of this month to create Egypt’s second-biggest investment bank.

However, Global Telecom Holding (GT) shed 0.93 percent, registering EGP 2.14 per share.

Heavyweight real estate developers Talaat Moustafa Group (TMG) and Emaar Misr increased 1.80 percent and 1.82 percent to close the day at EGP 5.08 per share and EGP 2.24 per share, respectively. 

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