Egypt shares open up early Sunday on calm phase of referendum

Ahram Online, Sunday 16 Dec 2012

Egypt's bourse registered significant gains at the beginning of Sunday's session as the first phase of Egypt's referendum ended yesterday relatively peacefully and with a high turnout

Egypt's stock market registered significant gains Sunday morning, with the main EGX30 index gaining a vigorous 1.3 per cent to stand at 5,231 points as the first phase of the voting for the constitutional referendum passed largely peacefully.

Thousands of Egyptians queued in front of the polling stations in 10 governorates to express their view on the draft constitution. The unofficial result showed that around 56 per cent of votes went to “Yes” column, while 44 per cent were “No.”

The broader-based EGX70 also rose by 1.7 per cent. Out of more than 135 currently listed companies on the index, roughly 100 shares gained value.

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