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Egypt index ends up, OCI leads - Daily News Egypt

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Egypt index ends up, OCI leads

CAIRO: Egyptian shares climbed in the third straight session, helping the country’s main index gain 1.6 percent on the back of positive domestic sentiment as global markets stabilized. Global markets rallied on Friday as world stocks gained for a ninth straight day on improved appetite after fears about sovereign debt in Europe ebbed. "We have …


CAIRO: Egyptian shares climbed in the third straight session, helping the country’s main index gain 1.6 percent on the back of positive domestic sentiment as global markets stabilized.

Global markets rallied on Friday as world stocks gained for a ninth straight day on improved appetite after fears about sovereign debt in Europe ebbed.

"We have room for another 200-300 points still before the market reaches a resistance point," Karim Hosny of Pharos Securities said.

Orascom Construction Industries (OCI) led the market higher, gaining 3.7 percent while Orascom Telecom (OT) added 2.8 percent.

Telecom Egypt climbed 2.5 percent. The firm said on Sunday it will pay a LE 0.55 ($0.10) dividend for 2009.

El Sewedy Cables advanced 1.5 percent while Sixth of October Development shed 1.7 percent.

The index ended at 6,519 points.

 

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https://www.dailynewsegypt.com/2010/06/20/egypt-index-ends-up-oci-leads/
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