CAIRO: Egypt s main stock index edged higher on Monday in very low volume trade as trading suspensions and holidays kept foreign investors away and locals eyed building firms, traders said.
There is not much international involvement, said Ashraf Akhnoukh, a trader at CIBC brokerage. Even if internationals wanted to be involved they couldn t because Orascom Telecom and Mobinil were suspended for the fifth day in a row, he said.
The EGX 30 gained 0.4 percent, or 21.84 points, to 5,789.65 points. The broader EGX 70 added 1.4 percent to 585.25 points.
Real estate developer Palm Hills jumped 8.13 percent to LE 12.50 ($2.22).
It had a strong decline in the market panic two days ago, the stock reached a level where a lot of people would go in and buy this one again, Akhnoukh said.
Fellow builder SODIC also gained, up 2 percent to LE 56.
