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Stock market surpasses 9000 points for first time since 2008

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CEO of Catalyst Partners Finance and Stock denies relation between the surge and the Suez Canal Axis Development project inauguration

Stock market surpasses 9000 points for first time since 2008 (AFP File Photo / Khaled Desouki)

Stock market surpasses 9000 points for first time since 2008
(AFP File Photo / Khaled Desouki)

The Egyptian stock exchange’s benchmark index, the EGX-30, recorded an increase of 1.04% Tuesday, rising to 9010.31 points for the first time since 2008.

CEO of Catalyst Partners Finance and Stock Ali Al-Taheri said that the surge followed a number of positive economic measures which prompted an improvement in the market performance.

Al-Taheri denied any relationship between the market jump and the inauguration of the Suez Canal Axis Development project. On Tuesday, President Abdel Fattah Al-Sisi headed to Ismailia to launch the national project and announce a new Suez Canal project.

The EGX-70, which includes small and medium sized companies, has witnessed a minimal increase of 0.18%, recording 628.22 points. The EGX-100 has risen 0.81%, recording 1,115.17 points; meanwhile, EGX-20 hiked 1.7%, marking 10,804.3 points.


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