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Home arrow Business arrow Egyptian main stock index up in low volumes
Egyptian main stock index up in low volumes PDF Print E-mail
Written by Egypt News   
Monday, 25 May 2009
Egyptian Stock Exchange Traders in Egyptian Stock Exchange reported on Monday that Egyptian main stock index .EGX30 edged higher Monday in very low volume trade as trading suspensions and holidays kept foreign investors away and locals eyed building firms

A trader at CIBC brokerage Ashraf Akhnoukh said "there is not much international involvement," adding that "even if internationals wanted to be involved they couldn't because Orascom Telecom and Mobinil were suspended for the fifth day in a row"

The EGX 30 gained 0.4 percent, or 21.84 points, to 5,789.65 points. The broader EGX 70 .EGX70 added 1.4 percent to 585.25 points.

Real estate developer Palm Hills (PHDC.CA) jumped 8.13 percent to 12.50 Egyptian pounds ($2.22).

Akhnoukh said "it had a strong decline in the market panic two days ago, the stock reached a level where a lot of people would go in and buy this one again"

Fellow builder SODIC also gained, up 2 percent to 56 pounds.

 

 

 

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