馃嚜馃嚞EgyptNorth Africa
Egyptian stocks rally, EGX30 reaches two-month high
via Egypt Today1 min read
Egyptian stocks experienced a broad-based rise on Sunday, with the benchmark EGX30 index closing at its highest level in two months. The EGX30 advanced by 1.82 percent to 52,372.64 points, marking its strongest close since February 18. This rally was primarily driven by gains in Talaat Moustafa Group, whose stock surged by approximately 7.9 percent following the announcement of its new "The Spine" project in Madinaty, an initiative with investments exceeding LE 1.4 trillion and paid-in capital of LE 69 billion. Commercial International Bank CIB also contributed to the benchmark's support with a 1.4 percent rise in its shares. The broader EGX100 and EGX70 indices also saw gains, increasing by 0.42 percent and 0.31 percent, respectively. Trading activity showed Arab and Egyptian investors as net buyers, while foreign investors were net sellers. Market capitalization closed higher at approximately LE 3.571 trillion.
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This summary was AI-generated from a story originally published by Egypt Today.
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