iPhone | iPad
Android
Huawei
After joining the club in 2017 Mbappe helped PSG reach the final in 2020 when they lost to Bayern Munich
KT APPDOWNLOAD
Egypt index follows world markets higher, OCI jumps
CAIRO - Egypt’s main stock index jumped over 2.5 percent on Wednesday, following global markets higher, with strong gains in Orascom Construction Industries.
Shares in heavyweight OCI surged 4.28 percent to end at 114.45 Egyptian pounds ($20.41), while the benchmark CASE 30 index ended at 3,562.27 points after U.S. stocks bounced back from 12-year lows a day earlier. The rival Hermes index gained 2.11 percent to 338.31 points.
“It’s basically a continuation of what we have been seeing. The Egyptian market copies the performance of international markets,” said Wafik Dawood of Naeem Brokerage.
Mohamed Radwan of Pharos Securities said that OCI, the day’s top performer, was seeing institutional interest that was dragging it higher. Traders said that generally, institutions were sticking to the big cap stocks.
Shares in regional mobile operator Orascom Telecom ended 4.29 percent higher at 19.20 pounds while Ezz Steel climbed 4.62 percent to 6.57 pounds.
Commercial International Bank rose 1.62 percent to 34.60 pounds, while investment bank EFG-Hermes gained 1.45 percent. EFG-Hermes has lost over 80 percent of its value since January 2008.
Shares in Pioneers Holding, however, dropped 1.07 percent to 5.57 pounds, and fixed-line monopoly Telecom Egypt lost 0.14 percent to 14.20 pounds.
More news from
Primary objective is to conduct a systematic analysis of possible future scenarios
Pep Guardiola's side beat Inter 1-0 in the final two seasons ago as Rodri's goal clinched their first Champions League crown on a memorable night in Istanbul
The project will include the initial launch of four stations
Year-to-date, the Abu Dhabi-based airline welcomed 12.0 million passengers
'Countries commenting on minorities are advised to look at their own record first,' says Indian foreign ministry, referring to Iran supreme leader's comment
Developer has a landbank of 4 million sq. ft. for ultra-luxury and affordable luxury projects
The result will put more focus on the political future of Trudeau, who has become increasingly unpopular after almost nine years in office