Egypt's NUCA, SHMFF sign New Cairo land allocation for integrated urban project    CIB named Egypt's Bank of the Year 2025 as factoring portfolio hits EGP 4bn    Egypt declares Red Sea's Great Coral Reef a new marine protected area    Oil prices edge higher on Thursday    Gold prices fall on Thursday    Egypt, Volkswagen discuss multi-stage plan to localise car manufacturing    Egypt denies coordination with Israel over Rafah crossing    Egypt to swap capital gains for stamp duty to boost stock market investment    Egypt tackles waste sector funding gaps, local governance reforms    Egypt, Switzerland explore expanded health cooperation, joint pharmaceutical ventures    Egypt recovers two ancient artefacts from Belgium    Private Egyptian firm Tornex target drones and logistics UAVs at EDEX 2025    Egypt opens COP24 Mediterranean, urges faster transition to sustainable blue economy    Egypt's Abdelatty urges deployment of international stabilisation force in Gaza during Berlin talks    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    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date    Egypt signs host agreement for Barcelona Convention COP24 in December    Al-Sisi urges probe into election events, says vote could be cancelled if necessary    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    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    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    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.



Foreign buying lifts Egypt's bourse
Reuters Published in The Egyptian Gazette on 07 - 11 - 2010

For the fourth day in a row, Egyptian stocks were in the black as bullish sentiment hit foreign investors, traders said. Arab and non-Arab investors made net purchases worth LE6.6 million ($1.2 million) and LE38.9 million respectively, they added.
Locals made net sell-offs worth LE45.5 million, according to the Egyptian Exchange.
The North African country's benchmark index EGX 30 gained 0.95 per cent to 6,828.65 points. The EGX 70, which measures 70 of the country's small and mid caps, jumped by 1.15 per cent to 692.5 points.
Orascom Telecom, the largest Arab mobile operator by subscribers, added 0.23 per cent to LE4.35 per share.
Commercial International Bank rose by 0.59 per cent to LE42.65 per share. Orascom Construction Industries gained 1.5 per cent to LE275.04 per share.
On Friday, US stocks rose for the fifth straight week as investors took heart from Republican gains in the elections and on news that more cheap money from the Federal Reserve was on the way, according to Reuters.
Following a 3.6 per cent rise in the S&P 500 this week, investors locked in profits on Friday, offsetting an unexpectedly strong payrolls report that reinforced optimism about the economy. The market closed slightly higher.
The Dow Jones industrial average edged up 9.24 points, or 0.08 percent, at 11,444.08. The Standard & Poor's 500 Index added 4.78 points, or 0.39 per cent, to 1,225.84. The Nasdaq Composite Index rose 1.64 points, or 0.06 per cent, to 2,578.98.
The S&P 500 has risen about 16 per cent since September and indexes surged to two-year highs on Thursday, but investors began to question how long the upward trend could continue without a breather.
In a technical barrier, the 61.8 per cent retracement of the slide in the S&P 500 from the historic highs in 2007 to the lows in March 2009 is 1,228.74, near Friday's session high of 1,227.08.
After the closing bell, Boeing Co fell 2.5 per cent to $69.51 in extended trading on an Aviation Week report that said the Dow component expects delivery delays of its 787 aircraft.

Clic here to read the story from its source.