Egyptians vote in 1st stage of lower house of parliament elections    Al-Sisi meets representatives of 52 global tech firms to boost ICT investments    Madbouly seeks stronger Gulf investment ties to advance Egypt's economic growth    Egypt says Gulf investment flows jumped to $41bn in 2023/24    Egypt's Al-Sisi, Russian security chief discuss Gaza, Ukraine and bilateral ties    Lebanese president says negotiations are only way forward with Israel    Japan, US condemn 'threatening' post by Chinese diplomat over Taiwan remarks    Egypt, Saudi Arabia sign MoU to exchange road expertise    Grand Egyptian Museum welcomes over 12,000 visitors on seventh day    EGX ends mixed on Monday, 10 November, 2025    Egypt's private medical insurance tops EGP 13b amid regulatory reforms – EHA chair    Egypt to issue EGP 6b in floating-rate T-bonds    Egypt, WHO discuss joint plans to support crisis-affected health sectors    Egypt, US's Merit explore local production of medical supplies, export expansion    400 children with disabilities take part in 'Their Right to Joy' marathon    Egypt repatriates 36 smuggled ancient artefacts from the US    Grand Egyptian Museum attracts 18k visitors on first public opening day    'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo    Egypt, Albania discuss expanding healthcare cooperation    VS-FILM Festival for Very Short Films Ignites El Sokhna    Egypt's cultural palaces authority launches nationwide arts and culture events    Egypt launches Red Sea Open to boost tourism, international profile    Qatar to activate Egypt investment package with Matrouh deal in days: Cabinet    Hungary, Egypt strengthen ties as Orbán anticipates Sisi's 2026 visit    Egypt's PM pledges support for Lebanon, condemns Israeli strikes in the south    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Egypt establishes high-level committee, insurance fund to address medical errors    Sisi expands national support fund to include diplomats who died on duty    Madinaty Golf Club to host 104th Egyptian Open    Egypt's PM reviews efforts to remove Nile River encroachments    Al-Sisi: Cairo to host Gaza reconstruction conference in November    Egypt will never relinquish historical Nile water rights, PM says    Al-Sisi, Burhan discuss efforts to end Sudan war, address Nile Dam dispute in Cairo talks    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.



Retailers, Arabs lift Egypt bourse
Reuters Published in The Egyptian Gazette on 16 - 06 - 2010

Spearheaded by a bullish sentiment, retailers and Arab investors lifted Egypt's main index on Wednesday, traders said.
Egyptian and Arab investors made net purchases worth LE230 million ($40.6) and LE23.3 million respectively, they added. Non-Arabs made net sell-offs worth LE253.3 million.
The North African country's benchmark index EGX 30 rose by 1.01 per cent, ending the day's trading at 6,348.25 points. The EGX 70 index, which measures 70 of the country's small and mid caps, added 0.62 per cent to 544.22 points.
Volume hit LE1.6 billion, according to the Egyptian Exchange.
Orascom Construction Industries, Egypt's largest builder by market value, adde 1.76 per cent, closing at LE233.09 per share. Orascom Telecom, the largest Arab mobile operator by subscribers, slipped by 0.56 per cent to LE5.31 per share.
Meanwhile, world stocks hit a one-month high and the euro briefly hit a two-week peak as strong gains on Wall Street and the relative success of this week's European debt auctions encouraged fresh risk-taking, Reuters reported.
"The market has got over political, euro and sovereign debt worries, although none of those issues have gone away," said Justin Urquhart Stewart, director at Seven Investment Management.
"The market has gone back to looking at corporate valuations, which are looking good."
The Morgan Stanley Capital International (MSCI) world equity index rose 0.3 per cent to hit its highest level since mid-May. The FTSEurofirst 300 index rose 0.4 per cent, extending a rally to six days. Emerging stocks gained 0.7 per cent.
US crude oil was steady at $76.90 a barrel having topped above $77 earlier. "Oil is basically moving with stock markets and the stock markets are moving with optimism and pessimism over the euro," said Keichi Sano, general manager of research at SCM Securities in Tokyo.
"Prices are getting into a higher range of $75-$85 for the coming two to three months."
The euro rose as high as $1.2355 before easing back to $1.2281, down 0.3 percent on the day. The dollar rose 0.3 percent against a basket of major currencies.

Clic here to read the story from its source.