Market Update: Egypt stocks rise to 6 months high on Monday

Ahram Online, Monday 13 Feb 2012

Egypt's bourse edged to a six-month high on Monday, with the benchmark EGX30 index gaining 4.2 per cent to close the day's trading at 5,099 points.

The exchange, which has enjoyed a month of relative gains, was bolstered further by investor optimism prompted by the announcement of an ownership-transfer deal between France Telecom and Orascom Telecom over mobile venture Mobinil.

The broader EGX70 index also rose for the day by 2.28 per cent.

Total turnover on Monday reached some LE690 million (roughly $115 million), with 160 company shares gaining ground and 23 losing value.

A more detailed market report will follow shortly

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