For the third day in a row, Egyptian shares rose on Sunday as the country's big caps were in the black, traders said. Following global markets, which extended gains on Friday, Egyptian investors were driven by a bullish sentiment, making net purchases worth LE224 million ($39.4 million), accordig to the Egyptian Exchange. Orascom Telecom, the largest Arab mobile operator by subscribers, rose by 2.67 per cent to LE4.99 per share, they added. Orascom Construction Industries gained 1.27 per cent to LE230.93 per share. EFG-Hermes, Egypt's largest investment bank by market value, added 1.08 per cent, closing at LE27.95 per share. The North African country's main index EGX 30 gained 1.38 per cent, ending the day's trading at 6,111.95 points. The EGX 70, which measures 70 of the country's small and mid caps, added 1.6 per cent to 585.19 points. Volume hit LE1.3 billion, accordig to the Egyptian Exchange. On Friday, US stocks extended gains, with the Dow climbing more than one per cent, after General Electric boosted its dividend and a host of solid earnings lifted investor optimism. The Dow Jones industrial average gained 108.30 points, or 1.05 per cent, to 10,430.60. The Standard & Poor's 500 Index gained 9.34 points, or 0.85 per cent, to 1,103.01. The Nasdaq Composite Index gained 18.91 points, or 0.84 per cent, to 2,264.80.
