Egypt's stocks back in green on blue chip gains

Ahram Online, Monday 10 Nov 2014

Leading banking, telecom and construction shares up on Monday, as EGX30 rises 0.92 percent

General view showing Egypt's benchmark stock in Cairo (Photo: AP)

Egypt's market bounced back to gains on Monday following three consecutive sessions of profit making.

The benchmark index EGX30 inched up 0.92 percent to register 9,459 points with daily stock turnover reaching LE754.6 million.

Egyptian investors were net buyers to the tune of LE40 million, while Arab investors were net sellers to the tune of LE26 million.

Blue chips Commercial International Bank (CIB) and Telecom Egypt (TE) were both gainers, rising 1.5 percent to LE51.5 per share and 0.13 percent to LE15.05 per share.

Global Telecom Holding was one of four decliners in the main index, falling 1.08 percent to LE4.59 per share.

Egypt's leading investment bank, EFG-Hermes, saw its share price increase 1.52 percent to record LE17.6 per share.

The largest market cap in the real estate sector, Talaat Moustafa Group (TMG) holding, gained 1.16 percent to LE10.46 per share and Medinet Nasr Housing was up 2.67 percent to LE43.91 per share.

The broader index EGX70 increased 0.79 percent.

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