CAIRO: Foreign investors seem to be fleeing Egyptian markets based on last week's performance, said Ehab Saeed, the manager of the research department and member of the board of directors of the Osool ESB for Securities Brokerage Company. Tuesday's session experienced significant gains, reflecting the positive participation of the parliamentary elections, he continued. The third session's transactions eclipsed 400 million EGP (U.S. $66.6 million) for the first time in three months, but the rest of the sessions fluctuated between 280 million (U.S. $46.62 million) EGP to 300 million EGP (U.S. $49.95 million). Foreign investors took 38.6 percent of Tuesday's transactions, totaling 80.2 million EGP (U.S. $13.35 million), Saeed reported. “Strong Egyptian participation in the first round of the parliamentary elections pushed individual investors to enter the Bourse,” he added. Egyptian transactions comprised 58.84 percent of the total transactions during the last three sessions, foreign investors took 34.07 percent, equaling 108.86 million EGP (U.S. $18.13 million), and Arab investing constituted 7.09 percent, equaling 27.10 million EGP (U.S. $4.51 million).
