Egypt State Information Service (Cairo)

Egypt: ESE Gains Nation 16.4 Billion

27 January 2012

The Egyptian stocks soared to a three-month high on Thursday 26/01/2012 after Wednesday's celebrations of the first anniversary of the January 25 Revolution passed peacefully. The value of gain realized by the bourse reached nearly EGP 16.4 billion.

The benchmark EGX 30 soared 7.2 percent to close at 4432.99 percent, its largest single-day increase in a decade, sources in the Egyptian Stock Exchange (ESE) told MENA Thursday.

The broader EGX 70 also climbed 5.28 percent to close at 446.78 percent. The increase was prompted by purchases of Arab and foreign investors amid optimism with market recovery.

ESE resumed trading Thursday after it was suspended for half an hour amid the sharp rise of stocks over the authorized five percent.

In a similar trend, the wider all-embracing EGX 100 index rose by 5.3 percent to hit 718.02 points.

Tagged: Business, Egypt, North Africa, Stock Markets

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