Egypt's stocks resumed their rebound on Monday as investors, particularly foreigners, seemed to feel cautious confidence in the country's steps forward. The 50-member committee charged with amending the constitution started work on Sunday after a weekend of relative calm on the streets. "Streets nationwide were quiet over the last two days, and despite the bombs detected on the railways near the Suez Canal, investors are mainly following the violence and street fights," said Ashraf Abdel-Aziz, the head of institutional sales at Arabeya Online securities. Egypt's main index the EGX30 rose 1.14 percent on Monday, recording 5,245 points in a session which saw foreign investors become net buyers for the first time in four sessions, at LE25.1 million. Domestic investors were net sellers with LE23.1 million, preferring to take profits from the solid trading. The market saw a significant daily turnover of listed securities registering LE370.6 million. The market's bellwethers Commercial International Bank, Orascom Telecom and Telecom Egypt ended Monday's trading in green, surging 1.7, 0.9 and 1.5 percent respectively. Real estate developers the Talaat Mostafa Group, Palm Hills and Six of October Development and Investments have soared 0.2, 1.4 and 1.8 percent respectively. The broader index EGX70 climbed 1.5 percent. http://english.ahram.org.eg/News/81206.aspx
