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Egypt's stocks rebound on Wednesday amid Arab purchases

Ahram Online , Wednesday 13 Jul 2016
Traders work at the Egyptian stock exchange in Cairo, Egypt, March 8, 2016 (Reuters)
Traders work at the Egyptian stock exchange in Cairo, Egypt, March 8, 2016 (Reuters)
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Egypt’s stocks rebounded on Wednesday in a trading session that saw Arab investors as net buyers.

The market’s benchmark EGX30 rose 1.37 percent to 7,559 points with almost all heavyweight shares registering gains.

Out of 159 stocks listed for the day, 91 increased and 31 declined. The daily turnover registered at EGP 653.5 million, less than trading over the last three sessions.

Commercial International Bank (CIB) rose 0.99 percent to close at EGP 42.74 per share.

Global Telecom, the most traded share for the third consecutive session, gained 1.89 percent to record EGP 3.77 per share.

Real estate developer Talaat Moustafa Group (TMG) rose 2.39 percent to close at EGP 5.57 per share.

The country’s leading steel producer, Ezz Steel, rose 1.26 percent to close at EGP 8.04 per share.

Investment bank EFG Hermes finished up 1.61 percent to close at EGP 11.97 per share.

Broader index EGX70 inched up 0.5 percent.

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