EGX gains 8.5bn EGP in April from Egyptian purchases
Egyptian stock market in Cairo - REUTERS/Asmaa Waguih

CAIRO: During last month’s session, Egyptian Exchange (EGX) indexes collectively edged higher, supported by purchases from Egyptian investors, to gain 8.5 billion EGP and register a total of 478 billion EGP by the end of April, compared to 469.5 billion EGP the previous year, Mubasher reported.

Meanwhile, Arab and foreign investor transactions were mostly selling.

Economic experts attributed the increase in EGX indexes in April to optimism among Egyptian investors regarding progress in the political road map announced by the Egyptian army after ousting former President Mohammed Morsi, and the approaching presidential elections, it reported.

The Egyptian Exchange granted the Beltone Financial Holding company on Monday a license to establish the first Exchange Trade Fund for the EXG30, The Cairo Post reported.

Saeed Hilal, executive manager for the Al-Hilal Al-Saudi Company for Financial Securities, announced the new fund will attract more investments for the EGX and push the EGX indexes furher in the upcoming period, it reported.

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