In Week, Egypt Shares Gain EGP5.2 bln on Thriving GCC/Egyptian Forum
In a week, Egyptian shares attained gains totaled around EGP 5.2 billion powered by the GCC/Egypt Investment Forum which kicked off on December 4th and 5th aiming to allure Gulf investments to the cash-strapped North African country.
The capital market reached EGP 408.101 billion last Thursday, compared to EGP 402.978 billion at the end of a week earlier.
Accordingly, the Egyptian Exchange’s benchmark index EGX 30 index climbed by 2.3% this week, registering an increase of 148 points, ending Thursday’s transactions at 6332.13 points compared to 6184.11 points at the end of a week earlier.
The main gauge index hit its highest point on Thursday’s closing at 6332.13 points, where its lowest point recorded on Tuesday at 6243.88 points.
Meanwhile, the mid- and small-cap index, the EGX70 inched up by 1.3% closing at 525 points during Thursday’s session, compared to 518 points at the end of a week earlier. The price index, EGX100 also advanced by 1.6% concluding by 882 points during Thursday’s session, against 866 points at the end of a week earlier.
Turnovers & Volumes:
Also in a week, the EGX has registered a decline of 8% in its turnovers to EGP 2.3 billion, compared to EGP 2.5 billion a week earlier. The volume of trades hit 504 million securities, compared to 728 million securities a week earlier.
GCC/Egypt Investment Forum
Under the auspices of Prime Minister Hazem el-Beblawi, The Gulf-Egyptian Investment Forum had kicked off in Cairo on days of December 4th and 5th, aiming to allure Gulf investments to Egypt.
The forum had represented a great opportunity to further boost joint cooperation between Egypt and the Gulf countries.
