Egypt's stocks rebound slightly on Monday amid low turnover

Ahram Online , Monday 27 Jun 2016

Egypt's Stock Exchange in Cairo (Photo: Reuters)

Egyptian stocks rebounded partially on Monday after starting the week with sharp losses after the shock Friday Brexit referendum results.

Egyptian benchmark index EGX30 gained 0.76 percent to 6,903 points as daily stock turnover was a low EGP 324.5 million.

Egyptian investors were net buyers to the tune of EGP 28.7 million, while foreigners were net sellers.

Blue chip Commercial International Bank (CIB) edged up 0.55 percent to EGP 39.61 a share.

EFG Hermes, one of Egypt's leading investment banks, gained 1.15 percent to EGP 10.41 per share.

State-run Telecom Egypt rose 2.53 percent to EGP 8.1 per share.

Telecom Egypt will receive EGP 750 million as a second tranche of withheld dividends from Vodafone Egypt, Reuters reported on Monday citing an anonymous source. 

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