Egypt's stocks continue to rally led by Orascom Telecom

Ahram Online , Tuesday 22 Dec 2015

Stock Exchange
Egypt's Stock Exchange in Cairo July 3, 2013 (Reuters)

Egypt’s stocks slightly rose on Tuesday as the market’s benchmark EGX30 ended the session up 0.1 percent to record 4,769 points led by Orascom Telecom’s high performance.

Orascom Telecom Media and Technology (OTMT) soared 3.2 percent to close at LE0.63 per share as it remains positively impacted by its agreement to buy Commercial International Bank's (CIB) investment banking subsidiary CI Capital for LE1 billion ($128 million).

Heavyweight share CIB registered a mild decline of 0.8 percent to be sold at LE36.53.

Real estate listed developer Talaat Moustafa Group (TMG) inched up 0.3 percent to register at LE6.26

Out of 163 listed securities, 79 shares gained and 54 slipped in a session that saw a daily turnover of LE551.6 million.

Egyptians were the only net-buyers of the day to the tune of LE34.8 million. Broader index EGX70 climbed 0.3 percent. 

It has been announced that the market will be closed on Wednesday 23 December as a part of the national holiday in celebration of Prophet Mohamed's birthday. Trading will resume on 24 December.


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