Real Madrid coach Ancelotti hails Hernandez's patience    Egypt takes part in NPT Review Conference in New York April 27    Death Toll from Nepal Earthquake reaches 718    UN aid chief urges Syria sanctions, Jolie pleads for refugee help    Fiorentina to keep Egypt's Salah Next Season    Egypt's 6th of October Bridge closed from 12 AM    No connection between Egypt's Nile phosphate accident and poisoning cases: minister    Weak U.S. Business Spending Data Hints At Sluggish Growth Rebound    Israeli forces shoot and kill Palestinian    Sony Raises FY 2015 Profit Forecast To $2.5 Billion: Nikkei    British Deputy Ambassador launches Student Parliament at Cairo University    Giggs will be next Manchester United manager: van Gaal    Live score: Espanyol vs. Barcelona (Spain La Liga)    EU rescue ships head for Libya, as migrants die also in Balkans    No cash for Greece: EU    Killing of U.S. al Qaeda media frontman seen as big blow for militants    Sandra Bullock Named World's Most Beautiful Woman    No cash for Greece: EU    Police fire teargas to break up Islamist protests south of Cairo    One killed, another wounded in blasts in northern Cairo    Proverb of the day: Who would praise the bride more than her mother?    Forget me not    ‘Nothing to celebrate'    Armenians on the silver screen    Sudan calls off trial of detained Egyptian fishermen for trespassing its waters    Deutsche Bank fined record $2.5 bln in rate rigging probe    Egypt receives $6 bln from Saudi Arabia, UAE, Kuwait: cenbanker    German Train Drivers on Strike for Second Day    No Egypt election before Ramadan, says minister    International Experts analyse Impacts of Ethiopian Dam    Phosphate spill did not affect Nile water: Officials    Two policemen shot dead by gunmen in Cairo    Obituary: Abdel-Rahman El-Abnoudi, the last side of the Egyptian poetry triangle    Art Alert: Met Live transmissions to offer double-bill: Cavalleria Rusticana and Pagliacci    Three matches to forget    Yoghurt sponge cake    Furniture Arranging 101    Briefs    Syrian blood money    Extending social security    The end is near    Equestrian elite    MUSIC AND DANCE    EXHIBITIONS    Egypt most popular poet Abnudi dies aged 76    Jockey Club Records Strong Profits and Turnover in 2014    Egypt sentences 22 Morsi Supporters to Death    Election laws, mark two    







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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.


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