Don't rock my boat .... by Emma Khalil    El-Sisi urges Vietnamese industrialists to invest in Egypt    Abdel-Rehim Ali issues new book to discuss ISIS plans    Egypt's state wheat purchases surge after private sector crackdown    Culture Minister opens book fair at Saint Mark's Cathedral    Egypt's tourism revenues rise 170 percent: official    Egypt, China sign $739M deal, $45M grant for 2 projects    Egypt, China sign second phase of grid-power agreement    Putin foresees the return of Moscow-Cairo flights "very soon"    MP denies starting petition to drop membership of Abdel Rahim Ali in Parliament    An Apology Letter to the Egyptian Parliament – Al-Bawaba News    Egyptian ethnomusicologist and pioneer of electronic music Halim El-Dabh dies at 96    Naguib Mahfouz portrait dedicated to Johannesburg University    Press Release from Al-Bawaba Newspaper following confiscation of Sept 3 Issue    Death toll of Egyptian pilgrims rises to 40    Egyptians continue to excel in World Taekwondo Championship    Egyptian Shahd al-Hosseiny Qualifies to Semi-finals    تغريدة - جماهير ليفربول بعد أداء صلاح أمام واتفورد: "لا نحتاج كوتينيو"    Bodybuilder breaks neck, dies after botched back flip    تغريدة - جمهور أرسنال بين "الأفضل في وسط ملعبنا" و"يجب أن يرحل" بعد أداءه أمام تشيلسي    رسالة نيمار الوداعية: كان شرفا لي أن ألعب مع أفضل رياضي رأيته في حياتي    Propertyfinder receives demand requests for property worth EGP 4.6bn in Q1    HHD, Al Oula sign EGP 500m finance lease to develop New Heliopolis City utilities    2 June deadline to serve units allocated for Egyptian expats    Polezni Durak and the summit of Riyadh    Egypt pledges right to self-defence before UNSC by Libya airstrikes    Former ERTU head Safaa Hegazy mourned    How 5 alternatives left ‘no option' for Maspero Triangle residents    In Pictures: Lanterns' brightness glows Egypt's ashen streets    Borussia Dortmund win German Cup, beating Frankfurt 2-1    Raikkonen on pole as Ferrari lock out Monaco front row    Egypt needs huge investments and 10 million tourists    Supreme Council of Antiquities to launch Cairo Pass permits for foreigners in Cairo and Giza    Summer Of Love: Beatles album &. Pepper's turns 50    Star Wars turns 40, but the Galactic Empire is far from over    High Administrative Court questions constitutionality of Emergency Law articles    Army destroys two tunnels beneath Egypt-Gaza border    After tribal clashes, is Sinai militancy turning into proxy war?    Newsreel    New Year routine    Imminent cabinet reshuffle    Footballer furore    In quest of national consensus    ‘Protecting the weakest'    Briefs    IMF open to scrutiny    Art heist goes wrong    All the fun of the Book Fair    







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.