Egypt's main index up on real estate sector gains

Ahram Online, Monday 19 May 2014

EGX30's gains - up 0.59 percent - compensate for the previous session's slight losses

Egypt’s stocks rebounded on Monday as the benchmark index EGX30 inched up 0.59 percent to 8,582 points, while the broader index EGX70 increased 0.77 percent.

EGX30's gains in Monday’s session made up for a slight decline in Sunday's.

Turnover of listed stock reached LE945.9 million, while Egyptian investors were net sellers to the tune of LE52 million.

Market bellwether Commercial International Bank (CIB) inched up 0.11 percent to LE38.2 per share.

In the real estate sector, Talaat Moustafa Group (TMG) gained 0.53 percent to LE9.54 per share, Palm Hills Company increased 1.56 percent to LE4.62 per share and Six of October Development and Investment Company (SODIC) rose 2.07 percent to LE28 per share.

Investment bank Egyptian Financial Group-Hermes gained 2.06 percent to LE14.02 per share while Amer Holding Group was up 0.71 percent to LE1.45 per share.

Among the eight decliners in the main index were Ezz Steel, Pioneers Holding and Telecom Egypt (TE).

Ezz Steel inched down 0.46 percent to LE17.55 per share, Pioneers fell 0.58 percent to LE13.8 per share while state-run TE dropped 0.28 percent to LE14.35 per share.


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