Egypt partners with Google to promote 'unmatched diversity' tourism campaign    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Taiwan GDP surges on tech demand    World Bank: Global commodity prices to fall 17% by '26    Germany among EU's priciest labour markets – official data    UNFPA Egypt, Bayer sign agreement to promote reproductive health    Egypt to boost marine protection with new tech partnership    France's harmonised inflation eases slightly in April    Eygpt's El-Sherbiny directs new cities to brace for adverse weather    CBE governor meets Beijing delegation to discuss economic, financial cooperation    Egypt's investment authority GAFI hosts forum with China to link business, innovation leaders    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's Gypto Pharma, US Dawa Pharmaceuticals sign strategic alliance    Egypt's Foreign Minister calls new Somali counterpart, reaffirms support    "5,000 Years of Civilizational Dialogue" theme for Korea-Egypt 30th anniversary event    Egypt's Al-Sisi, Angola's Lourenço discuss ties, African security in Cairo talks    Egypt's Al-Mashat urges lower borrowing costs, more debt swaps at UN forum    Two new recycling projects launched in Egypt with EGP 1.7bn investment    Egypt's ambassador to Palestine congratulates Al-Sheikh on new senior state role    Egypt pleads before ICJ over Israel's obligations in occupied Palestine    Sudan conflict, bilateral ties dominate talks between Al-Sisi, Al-Burhan in Cairo    Cairo's Madinaty and Katameya Dunes Golf Courses set to host 2025 Pan Arab Golf Championship from May 7-10    Egypt's Ministry of Health launches trachoma elimination campaign in 7 governorates    EHA explores strategic partnership with Türkiye's Modest Group    Between Women Filmmakers' Caravan opens 5th round of Film Consultancy Programme for Arab filmmakers    Fourth Cairo Photo Week set for May, expanding across 14 Downtown locations    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Ancient military commander's tomb unearthed in Ismailia    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Egypt's FM praises ties with Tanzania    Egypt to host global celebration for Grand Egyptian Museum opening on July 3    Ancient Egyptian royal tomb unearthed in Sohag    Egypt hosts World Aquatics Open Water Swimming World Cup in Somabay for 3rd consecutive year    Egyptian Minister praises Nile Basin consultations, voices GERD concerns    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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



Egypt's main index up as foreigners continue buying trend
EGX30 records records over 9,000 points, buoyed by investor confidence and news of a Suez Canal mega project announced
Ahram Online Published in Ahram Online on 06 - 08 - 2014

Egypt's stocks continued to rally on Wednesday as investors become more confident in the country's macroeconomic stability and foreigners continue a buying trend for the 12th consecutive session, according to an analyst.
The benchmark index EGX30 inched up 0.41 percent to 9,047 points after breaking the 9,000 record level on Tuesday.
"Cutting fuel subsidies and starting the new Suez Canal project signals a move towards more sound macroeconomic indicators and thus boosts investors' confidence," Eissa Fathy, vice head of the securities division at Cairo Chamber of Commerce, told Ahram Online.
On Tuesday, Egypt's president Abdel-Fattah El-Sisi announced the start of a new mega project to add a 72-km-long waterway alongside the Suez Canal to boost revenues.
Daily stock turnover registered LE831.5 million.
Non-Arab foreign investors were net buyers for the 12th consecutive session to the tune of LE40.5 million while Egyptians were net sellers for LE39 million.
Market bellwether Commercial International Bank (CIB) declined 0.19 percent to LE43.49 per share.
Non-banking financial services Pioneers Holding increased 3.55 percent to LE15.6 per share and Egyptian Financial Group-Hermes (EFG-Hermes) rose by 1.55 percent to LE17.21 per share.
Medinet Nasr Housing was the biggest gainer in the EGX30 index, rising 3.87 percent to LE45.6 per share.
Talaat Moustafa Group (TMG) company inched up 0.21 percent to 9.73 per share while Six of October Development and Investment Company (SODIC) fell 1 percent to LE38.61 per share.
The broader index EGX70 inched up 0.17 percent.
http://english.ahram.org.eg/News/107879.aspx

Clic here to read the story from its source.