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Egypt's market rebounds on big caps gains
Reuters Published in The Egyptian Gazette on 09 - 05 - 2011

Driven by a bullish sentiment, Egyptian stocks rebounded on Monday amid low volumes, traders said. Egypt's benchmark index EGX 30 rose by 1.14 per cent to 4,934.23 points after falling 1.19 per cent on Sunday.
The broader indexes EGX 70 and EGX 100 jumped by 2.4 and 1.71 per cent to 613.1 and 934.84 points respectively.
Volume totalled LE445 million ($74.5 million), according to Bourse data.
Egypt's heavyweight Commercial International Bank (CIB) rose by 2.1 per cent to LE28.23 per share.
Orascom Telecom, the largest Arab mobile operator by subscribers, gained 1.01 per cent LE4.02 per share. Orascom Construction Industries added 0.39 per cent to LE239.86 per share. Mobinil slipped by 0.46 per cent to LE137.37 per share.
Talaat Moustafa, the country's biggest listed builder, jumped by 3.36 per cent to LE3.29 per share.
EFG-Hermes, the country's biggest investment bank by market value, gained 2.56 per cent to LE18.03per share.
Globally, concern about plans for a fundamental review of the bailouts given to Europe's high debtors hit European stocks and drove up the bond yields of troubled eurozone economies, Reuters reported.
The euro itself rebounded from recent sharp losses. Commodity prices firmed, bouncing back from their biggest weekly drop since 2008 as the dollar eased back.

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