Egypt’s benchmark EGX30 index rose 0.23 percent to close at 7,520 points, buoyed by blue chip gains. 

Market bellwether Commercial International Bank (CIB) edged up 0.18 percent to close at EGP 43.98.

Global Telecom Holding, the second largest listed stock in the index, jumped 2.99 percent to EGP 2.76 after reporting a first quarter net profit of $87.5 million, compared to a loss of $82.3 million a year earlier.

Edita Food Industries SAE fell 3.92 percent to close at EGP 37.98. The confectionary maker announced a 52 percent drop in net profit to EGP 39.2 million for the quarter ending on 31 March, compared to EGP 81.3 million in the corresponding three months of the previous year. 

Telecom Egypt inched down 0.25 percent to EGP 7.9.

Property developer TMG Holding slid 0.48 percent to trade at EGP 6.22 a share after announcing a rise in net profit to EGP 199.4 million for the first quarter, up from EGP 186.4 million a year earlier.

Local investors were net-sellers of EGP 106.7 million worth of shares, while non-Arab foreigners were the main net-sellers at EGP 87 million, with individuals as net-sellers across the board, bourse data showed.

The official exchange rate is EGP 8.78 to USD1.