Turkish Airlines plane to Tel Aviv turns back as flights halted for 24 hours    Palestinians propose to Egypt Gaza truce followed by 5-day talks: Fatah official    Hamas has fundamental choice to make: Kerry    Egyptian cigarette maker Eastern posts 17% jump in profits    Egypt puts clocks forward starting Thursday    China's typhoon toll rises to 46 dead, 25 missing    EU Election Observation Mission presents final report    Egypt Stocks Gain EGP2.4 billion on Tuesday amid Foreign Buying Appetite    2 tribal leaders killed in North Sinai    Real Madrid sign Colombian Rodriguez for 6 seasons    Dozens more killed in Israel's Gaza operation    Fathi set for Ahli after unsuccessful Arsenal trial    Missiles attacks in Libya kill two Egyptians    Civil society groups criticise ‘unregulated' decision to provide emergency cases with free medical treatment    Asia Stocks: Markets Close Higher    Arab Misr Insurance GIG Eyes EGP530mn Investment Portfolio by FY14/15    Gaza Death Toll Tops 500 As U.S. Steps up Ceasefire Efforts    MERS virus detected in air samples from Saudi camel barn    Striker Ahmed Gaafar extends Zamalek stay    U.S. Condemns Terrorist Attack in Egypt's Western Desert    UN Chief Arrives in Cairo for Gaza Talks with al-Sisi    Egypt to Reopen Gaza Border on Tuesday    Shakhtar midfielder Costa says players' lives at risk    Islamic militants kill 2 tribal leaders in Egypt    Egypt Cup goes to Al-Zamalek, Smouha left empty-handed    EIPR criticises state budget as ‘unfair to the poor'    Cairo Nile Shuttle contracts fibreglass company to manufacture Nile taxis    El-Raml Police Station trial postponed    Egypt's bourse to extend trading hours from August 7    Art Alert: Taxi at Darb 1718's Mawaweel Festival    Three drowned migrants found on Egypt coast    Palestinian man dies of war injuries in Egypt hospital    Egypt Prime Minister Steps In To End Military Issue Surrounding Chelsea's Salah    Minya Court Acquits 91 Arrested Following Rabaa Dispersal    Eid Al-Fitr Starts Monday 28 July: Egyptian Official    Handball: Egypt Drawn With France, Sweden In World Championship    Cotton company asks EGAS to approve debt repayment schedule    Al-Borsa website takes the lead in Egyptian economic publications: Alexa ranking    Sexual assault verdict ‘first step': NGOs    Chelsea's Mohamed Salah could be forced to return to Egypt to carry out military    Actor James Garner of "The Rockford Files" dead at 86 - TMZ.com    Universal Acquires Jolie-Pitt Film Project 'By The Sea'    Vibe Studio: Where underground music and a production city dream meet    At Least 38 Killed In China Highway Collision: Xinhua    Egypt To Pardon Prisoners On Anniversary Of 1952 Revolution    Exhibit celebrates mobile phone photography    Don't shoot I hoot    Putting a face on the ‘Humans of Cairo'    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.




Your friends recommend

CIB drives Egypt market upwards; trading sees significant recovery
Main EGX30 gains 0.75 per cent to close in on its highest point in the last six months; turnover reaches $106 million as the market looks ripe for recovery
Published in Ahram Online on 27 - 08 - 2012

Egypt's market continued on its gains streak on Monday with turnover seeing a major boost recalling pre-uprising levels. Monday's gains were driven primarily by the impressive performance of the Commercial International Bank and the real estate sector.
The main EGX30 index gained 0.75 per cent to close at 5,281 nearing its six months high of 5,452 points. Turnover reached LE636 million ($106 million), a level rarely seen in the struggling market since March 2011.
Egyptian investors drove the market on Monday, making up 78.5 per cent of trading and net-buying at LE13 million.
The Commercial International Bank (CIB), Egypt's largest private bank, was the most active share in Monday's session and the main engine behind today's gains, contributing 10 per cent of the session's volume. CIB gained 1.55 per cent to close at a share price of LE29.5.
Both Orascom Telecom (OT) and Orascom Telecom and Media Technology (OTMT) marking LE34 million in turnover. OT gained a meagre 0.28 per cent while OTMT dropped 1.69 per cent.
Out of 179 shares traded, 137 saw their value increase while 31 deteriorated. Eleven shares remained unchanged.
The broader index, EGX70, which measures the performance of smaller shares, gained 1.17 per cent in Monday's session to close at 484 points.
The Bourse's largest share, Orascom Construction Industries (OCI), which usually sets the tone for trade, increased by 0.35 per cent to land at LE276.07 per share. It saw LE29.1 million in turnover.
The Real Estate sector boosted its year-to-date surge, gaining 1.57 per cent, on the back of the surge in Palm Hills Development (PHD), Egypt's second largest listed developer. The developer which was beleaguered with legal ambiguity regarding its land bank saw its share price grow 0.44 per cent to close at LE2.26.
Real Estate giant, Sixth of October Development and Investment (SODIC), gained an impressive 4.58 per cent to close at LE22.13 per share. Earlier in August, the country's third-biggest listed property developer, posted a first half net profit of LE85.1 million ($14 million) for 2012 on Wednesday, compared to LE120.0 million loss for the same period a year ago.


Clic here to read the story from its source.