Egyptian stocks jump as CIB rises by 1.9%

Thursday 03 January 2019 11:17 AM

EGX
EGX


Reuters:
Egypt's blue-chip stock index rose sharply on Wednesday, boosted by its biggest bank, while all major Gulf markets were weak, with some investors away on year-end holidays. 
The Egyptian index rose 1.3 percent as Commercial International Bank gained 1.9 percent.
Real estate firm Talaat Mostafa rose 3.2 percent after saying its sales last year reached 21.3 billion Egyptian pounds ($1.2 billion), up from 13.1 billion pounds a year earlier. Orascom Development climbed 4.4 percent. It has been strong since announcing at the end of last week that it had sold some hotels, which would help reduce its debt.




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