EGX30 gains 0.45%, sits at one-month-high

Ahram Online , Sunday 15 Sep 2013

Egyptian stocks make small gains on first trading day of the week with Palm Hills Development seeing highest activity level across market

Egypt's stock exchange reached a one-month high on Sunday as the EGX30 index gained 0.45 percent to sit at 5,513 points.

This augments the index's gains since the beginning of 2013 to 0.9 percent.

Turnover reached LE476 million ($68 mn) as 118 shares gained value and 28 lost.

Egyptian and Arab investors were the main net-buyers, at LE8.3 million and LE3.3 million, respectively. Non-Arab foreign investors, meanwhile, were net sellers at around LE11.7 million.

Private equity firm Citadel Capital gained 0.61 percent to close at LE3.29 per share. The company said on Sunday it had won regulatory clearance to ask shareholders to approve a capital increase.

Real Estate developer Palm Hills Development (PHD) was the most active share in the session at LE43.1 million, gaining 1.75 percent to close at a share price of LE2.32.

Investment bank EFG-Hermes gained 0.23 percent, while CIB lost 0.51 percent, seeing trading volumes of LE27 million and 26.5 million, respectively.

In the telecommunications sector Orascom Telecom Media And Technology Holding saw the highest rise at 3.45 percent, seeing turnover of LE39.6 million.

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