Masress : Egypt stocks jump on opposition participation in Saturday poll

Suez Canal expects return to normal traffic by mid-2026 as Maersk, CMA CGM return Gaza death toll rises as health crisis deepens, Israel's ceasefire violations continue Turkey's Erdogan to visit Egypt in early 2026 as Cairo pushes for Palestinian technocratic committee Egypt's "Decent Life" initiative targets EGP 4.7bn investment for sewage, health in Al-Saff and Atfih Egypt, Spain discuss cooperation on migration health, rare diseases Egypt, Oman eye deeper industrial integration through Sohar Port Egypt, Armenia sign cooperation protocol to expand trade and investment Three Chinese firms to invest $1.15bn in Egypt's Sokhna industrial zone Egypt, Viatris sign MoU to expand presidential mental health initiative Gold, silver rise on Tuesday Oil prices dip on Tuesday URGENT: IMF reaches staff-level deal with Egypt on fifth, sixth reviews Egypt signs EGP 500m deal with Titan to build three waste treatment facilities in Sharqeya Egypt's PM reviews rollout of second phase of universal health insurance scheme Egypt sends medical convoy, supplies to Sudan to support healthcare sector Egypt sends 15th urgent aid convoy to Gaza in cooperation with Catholic Relief Services Al-Sisi: Egypt seeks binding Nile agreement with Ethiopia Egyptian-built dam in Tanzania is model for Nile cooperation, says Foreign Minister Al-Sisi affirms support for Sudan's sovereignty and calls for accountability over conflict crimes Egypt flags red lines, urges Sudan unity, civilian protection Egypt unveils restored colossal statues of King Amenhotep III at Luxor mortuary temple Egyptian Golf Federation appoints Stuart Clayton as technical director 4th Egyptian Women Summit kicks off with focus on STEM, AI UNESCO adds Egyptian Koshari to intangible cultural heritage list UNESCO adds Egypt's national dish Koshary to intangible cultural heritage list Egypt recovers two ancient artefacts from Belgium Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch Australia returns 17 rare ancient Egyptian artefacts Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team Egypt launches Red Sea Open to boost tourism, international profile Sisi expands national support fund to include diplomats who died on duty Egypt's PM reviews efforts to remove Nile River encroachments Egypt resolves dispute between top African sports bodies ahead of 2027 African Games Germany among EU's priciest labour markets – official data 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 stocks jump on opposition participation in Saturday poll
EGX30 rises almost three pct on news that Egypt's National Salvation Front would take part in Saturday's constitutional referendum

Ahram Online Published in Ahram Online on 12 - 12 - 2012

Egypt stocks rose by 2.8 per cent on Wednesday as investors showed optimism that political stability was around the corner, especially after the opposition National Salvation Front announced its intention to take part in Saturday's constitutional referendum.
"Despite recent clashes and the delay of Egypt's IMF loan, investor confidence improved after the opposition said it would vote in the constitutional poll," Ashraf Abdel-Aziz, head of institutional sales at Arabeya Online securities, told Ahram Online.
The National Salvation Front – a coalition of liberal, leftist and nationalist forces – has called on Egyptians to vote 'no' in the referendum.
Meanwhile, Egypt has asked the International Monetary Fund to delay approval of a $4.8 billion loan until next month due to current domestic political circumstances, Prime Minister Hisham Qandil said at a Tuesday press conference.
The benchmark EGX30, which hit 5,158 points on Wednesday, was bolstered by net-buying on the part of Arab and foreign investors, with both groups making around LE17 million worth of purchases.
The broader-based EGX70 index, meanwhile, rose by 4 per cent in a session that saw local investors net-sell to the tune of some LE34.6 million.
All of the market's main listed stocks rose in Wednesday's trading, led by Orascom Construction Industries and Commercial International Bank, which rose by 2.6 and 1.6 per cent.
Orascom Telecom and Ezz Steel, meanwhile, jumped by 3 and 5.1 per cent.
Property shares, meanwhile, also recorded gains, with the Talaat Mostafa Group, Palm Hills and SODIC rising by 4.6, 5.4 and 3.8 per cent respectively.
Total daily turnover on Wednesday stood at LE467.3 million (roughly $75.8 million).
http://english.ahram.org.eg/News/60383.aspx

Clic here to read the story from its source.