Egypt requests unfreezing of Hussein Salem's assets abroad after reconciliation    Presidential pardon for Egyptian political prisoners expected soon    Tesla touts speed and driving range with new upgraded battery    Samsung, Tencent are in competition to be Asia's most valuable firm    Quake devastates mountain towns in central Italy, at least 10 believed killed    Egyptian parliament approves electricity linkage deal with Saudi Arabia    Sisi will run for re-election ‘if it is the will of the Egyptian people'    Asian stocks slip on profit-taking; oil falls    Egypt's FM says media 'twisted' comments on Israeli violence    Egypt's 'Dry Hot Summers' wins best film at Oman's Dhofar Arab Film Forum    Court rejects judicial guardianship over Egypt's Press Syndicate    Car accident fatality rates in Egypt declined by 16.8 % since 2005: CAPMAS    After the party: Rio wakes up to an Olympic hangover    Hepatitis A outbreak in Virginia occurred by strawberries from Egypt    South Africa's Semenya takes 800 metres gold    Mo Farah completes historic double-double with 5,000m win in Rio    Multi-fronted flux in Yemen    Where does Turkey go from here?    The cost of austerity    Refuting the sceptics    The pretentious side of pride    The no handshake that shook the world    Gohar retains title, joins repeat club    Zamalek move up, Ahly fall down    Nile management    Digest    Suspects detained    Newsreel    No Hepatitis C lists    Repeat Thanaweya amma leaks    Turkey and the Kurds    LECTURES    The loss of a great actor    Women and their houses    Rowling returns to Harry Potter's world with new ebooks    New Bridget Jones book to be published in October    Court sentences Geneina to 1 year in prison    Egypt will always remain an oasis of security: Sisi    Egyptian Exchange gains EGP 2 billion on Thursday    Obama Passes Torch to Clinton, Slams Trump    Egypt in the international media    Azhar rejects Egypt govt decision to standardise Friday sermons    British delegation agreed MB designation as a terrorist group, MPs    Egypt in the international media    Egyptian Lebanese House to release Shahawy's new book next month    Antiquities Min. to extend Archaeological Transcripts& Books Fair    Ronaldo pledges to 'come back stronger' after knee injury    Dortmund in talks with Bayern Munich over Goetze return - report    







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





Egypt shares see mid-Tuesday surge
Recent news for financial heavyweights spurs strong gains for the stock market
Published in Ahram Online on 04 - 09 - 2012

Egypt stocks are seeing significant gains mid-Tuesday, the benchmark EGX30 index up 1.9 per cent at 5,634 points, some two hours into the trading session.
Turnover has already reached LE330 million ($55 million), with Orascom Construction Industries and Orascom Telecom Holding being the most active shares, up 2.25 and 3 per cent, respectively.
"Investors seem to have an open appetite for trading today, and I believe it is driven by the recent announcement of major business deals," says Ashraf Abdel Aziz, head of institution sales at Arabeya Online Securities.
Recent days saw National Societe General Bank (NSGB) and investment bank EFG-Hermes both announce major acquisition deals.
On Monday, oil giant BP said it would invest $10 billion in a new natural gas project on Egypt's Mediterranean coast, while a senior US official suggested the Obama administration was close to granting the new Egyptian government $1 billion in debt relief.
Shares in NSGB gained 8.13 per cent by midday, while EFG-Hermes shares were up 2.5 per cent.


Clic here to read the story from its source.