By Ahmed Allam:
Cairo-Mubasher Exclusive: Indices of the Egyptian Exchange (EGX) have rallied during early trading Thursday, backed by the recovery of most GCC markets that were helped by a rebound in global oil prices.
The benchmark index EGX30 rose 3.1% to 8378 points, and the small and mid-cap index EGX70 added 1.13% to 537.8 points.
Adel Abdul Fattah, chairman of Cmar Holding, told Mubasher in a phone call that the local bourse is likely to see strong rebound on Thursday after Wednesday’s unjustified losses. Most Gulf stock market recovered on Thursday, as Dubai bourse rose 11.5%, Saudi Tadawul (+6%), Abu Dhabi (+6.4%), Qatar (+1.12%), Muscat (+3.8%) and Kuwait (+1.3%).
CIB stock rose 2.5%, Global Telecom (+8.3%), Ezz Steel (+6.7%) and TMG (+6%).
Translated by Sayed Abdel Rahman
Photo Credit: Arabianeye-Reuters
Cairo-Mubasher Exclusive: Indices of the Egyptian Exchange (EGX) have rallied during early trading Thursday, backed by the recovery of most GCC markets that were helped by a rebound in global oil prices.
The benchmark index EGX30 rose 3.1% to 8378 points, and the small and mid-cap index EGX70 added 1.13% to 537.8 points.
Adel Abdul Fattah, chairman of Cmar Holding, told Mubasher in a phone call that the local bourse is likely to see strong rebound on Thursday after Wednesday’s unjustified losses. Most Gulf stock market recovered on Thursday, as Dubai bourse rose 11.5%, Saudi Tadawul (+6%), Abu Dhabi (+6.4%), Qatar (+1.12%), Muscat (+3.8%) and Kuwait (+1.3%).
CIB stock rose 2.5%, Global Telecom (+8.3%), Ezz Steel (+6.7%) and TMG (+6%).
Translated by Sayed Abdel Rahman
Photo Credit: Arabianeye-Reuters
Source:
Mubasher Exclusive
