EGX rallies over Cabinet reshuffle, benchmark up 0.6%
Egyptian Exchange - YOUM7

CAIRO: The Egyptian Exchange (EGX) shut on a collective rise Sunday, pushed up by an investor upbeat sentiment after President Sisi accepted the government’s resignation, and asked Petroleum Minister Sherif Ismail to form a new Cabinet within a week.

The market was also boosted by real estate stocks’ rally over news that the Housing Ministry will reveal details of the long-awaited new real estate regulations at Cityscape Egypt Real Estate Summit in Cairo on Monday.

Supported by foreign purchases, Egypt’s benchmark index EGX30 went up 0.61 percent to 7,082 points on Sunday, up from 7,039 points Thursday.

Similarly, the small and mid-cap index EGX70 hiked 1.34 percent to end at 387.2 points, compared to 382.1 points in its last session.

The broader index EGX100 also edged up 0.7 percent to close at 828.64 points, after 822.87 points on Thursday.

Market capitalization added around 1.8 billion EGP ($228.5 million,) registering 442.8 billion EGP, compared to 441 billion EGP Thursday.












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