ICEC

Egypt’s stock index hit two-month high on foreign buying

Egypt’s main index hit on Thursday the highest level since July 12, due to sustained interest in financials and property stocks.

EGX 30 jumped 1.1 percent to close at 16,009 points, while the mid- and small-cap index, EGX 70 was 0.28 percent higher, closing at 747.38 points. The broader EGX 100 index rose 0.49 percent, closing at 1,936 points.

The country’s stock market earned 5.8 billion Egyptian pounds ($325.3 million), as market capitalisation closed at 881.7 billion pounds during the closing session of Thursday.

Shares of Commercial Bank International Egypt (COMI.CA) climbed 2.2 percent and Madinet Nasr for Housing (MNHD.CA) surged 5.1 percent.

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