For the second day in a row, Egypt's main index was in the black on Tuesday, traders said. The country's benchmark index EGX 30 added 0.48 per cent to 4,957.68 points. The broader index EGX 70 gained 0.11 per cent to 613.79, while the EGX 100 was flat at 934.88 points. Volume totalled LE538.6 million ($90.2 million), according to Bourse data. EFG-Hermes, the country's biggest investment bank by market value, jumped by 3.99 per cent to LE18.75 per share. Egypt's heavyweight Commercial International Bank (CIB) gained 0.99 per cent to LE28.51 per share. Orascom Telecom (OT), the largest Arab mobile operator by subscribers, shed 0.25 per cent LE4.01 per share. Mobinil plunged by 2.26 per cent to LE134.26 per share. Talaat Moustafa, the country's biggest listed builder, rose by 2.74 per cent to LE3.29 per share. OT will announce first-quarter results on May 18 after the London market closes, Reuters reported. OT posted a fourth-quarter 2010 net loss of $179 million, citing restrictions by Algeria on its local unit Djezzy, the company's biggest source of revenue. Heliopolis Housing's net profit dropped 4.3 per cent to LE116.6 million in the nine months to end-March, the Bourse said. Egypt's Maridive and Oil Services said it would pay a cash dividend of $0.06 per share over two instalments to shareholders as of May 26. Maridive will pay the first instalment of $0.03 on May 31 and the remainder on September 29, it said. Meanwhile, world stocks advanced as strong Chinese trade data reinforced optimism about the global economy, while the euro was volatile on conflicting media reports of a potential new aid deal for debt-laden Greece. The euro briefly gained against the dollar after Dow Jones News Wires reported that Greece expected to receive fresh aid totaling 60 billion euros ($85.71 billion) as soon as June, but Greece denied it was discussing a new aid package. China posted its biggest trade surplus in four months in April as exports hit a record on stronger global demand, highlighting strength in the world's second largest economy despite its efforts to rein in inflation. Oil prices fell on a firmer dollar and higher margins for oil futures but surprisingly high Chinese crude imports showed demand was resilient and limited further losses. Optimism about the pace of economic recovery after the robust Chinese data lifted the FTSEurofirst 300 index of top European shares 0.9 per cent. World stocks as measured by MSCI were up 0.5 per cent.
