Off the wire
• U.S. stocks end mixed amid earnings, data  • Earth had 11th straight record warm month in March: NOAA  • Four int'l organizations intensify cooperation to fight tax evasion  • Afghanistan calls for world aid in fight against drug problem  • G20 summit in China has closer ties with dev't of developing countries: diplomat  • 2nd LD Writethru: Raul Castro re-elected as first secretary of Cuba's Communist Party  • News Analysis: Trump badly needs to win New York primary while Clinton looks to end Sanders' campaign  • Macedonia's role in decreasing migrant influx in Europe positive: Frontex  • Former New York policeman sentenced to probation, community service in stairwell shooting case  • UN General Assembly calls for international action to fight illicit drug use  
You are here: 　 Home

Egypt's stock market flourishes, hits 9-month high

Xinhua, April 20, 2016 Adjust font size:

The Egyptian Stock Exchange (EGX) flourished by the end of Tuesday's trading session for the third consecutive day with its benchmark hitting the highest record since July 2015.

The benchmark EGX30 index surged by 2.63 percent to 7,864.03 points, EGX70 index for small and medium sized enterprises rose by 0.38 percent to 381.91 points, while the broader EGX100 was up by 0.71 percent to 812.52 points.

The gains were supported by purchases made by foreign institutions and investment funds, which led the shares of listed companies to gain 6.1 billion Egyptian pounds (687 million U.S. dollars) in total.

Financial experts believe the performance is a sign of growing confidence in the Egyptian economy, particularly after the recent visits of Saudi Arabian King Salman bin Abdulaziz and French President Francois Hollande to the most populous Arab country. Endit