‘State of Sinai' claim hundreds of killings in Sinai attacks    Tennis: Serena Williams wins 6th Australian, 19th major title    Dollar's unofficial market still precedes official by EGP 0.16    Mehleb inaugurates EGP 675m Tahrir garage    Electricity ministry owes EGAS EGP 53bn for gas deliveries: EGAS Chairman    Macedonia authorities allege opposition plot to topple government    Gervinho poised for Ivory Coast return against Algeria    Court confirms Al-Qassam Brigades ‘terrorist group' designation    Student shot in anti-government Sharqeya protest    Wheat for Egypt stuck at Russian Ports ahead of Export Tax Launch - Sources    Traffic employee shot dead, policeman injured in Egypt's Sinai    China, France pledge to boost 'Strategic' Cooperation    AirAsia captain left seat before jet lost control: sources    Funerals of Some Killed Sinai Soldiers postponed until DNA Testing    Dollar finishes Week in the Red after Less-than-stellar GDP Data    U.S. Stocks routed in Final Hour, end Month in the Red    Liverpool's returning Sturridge ready to silence critics    Egypt's President Sisi holds meeting with SCAF to discuss North Sinai attacks    UN Security Council slams Terrorist Attacks in Egypt's Sinai    Support Waning, Romney Decides Against 2016 Bid    Egyptian Army should return to Barracks to end Bloodshed in Sinai: Brotherhood    Air strikes alone not enough to defeat Islamic State: NATO chief    US armed drone program in Yemen facing intelligence gaps    DJ Zo'la's funeral takes place in Cairo    Egypt allows pound to weaken to new low of 7.49 per dollar    Germany's Gabriel says Greek politics mustn't burden rest of EU    Wedding bells and curlers at Gaultier for fashion week    High accident rates threaten Red Sea tourism: Ministry official    Egypt takes issue with AU inclusion of Turkey, Qatar in Libya meeting    28 January 2011: Egypt's Bastille Day    Egyptian pound weakens to fresh low of 7.46 per dollar    Egypt to apply for North Africa candidacy on UN Security Council    Doctor jailed after Egypt's First FGM Conviction    29 injured In Egypt's Menoufiya Train Fire    Bomb on track halts trains in Beheira    2nd round Drift Championship 2014/2015 to launch in February    BREAKING: Egypt convicts doctor, father in first ever FGM trial    PepsiCo considers developing Pepsi league for students in Egypt: Ahmed El-Sheikh    Text of Saudi King Salman's speech after taking the throne    Art Alert: Cairo Opera House suspends all concerts for seven days    Sotheby's Fends Off Rare Negligence Suit Over Caravaggio Dispute    Antiquities ministry requests EGP 488m to continue projects: Cabinet spokesman    Faten Hamama's shining star fades away    Ronaldo wins best player title for 2nd year: FIFA Ballon d'Or 2015    Japan funds Egyptian palm handicrafts project    Mortada Mansour: The Football Eccentric Dividing Egypt    Shah Rukh Khan's ‘Happy New Year' To Release In Egypt On December    VIDEO: ENPPI upset Zamalek to top league    







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.