Egypt stock rally goes into sixth day
The largest publicly traded investment bank in Egypt will pay a 1 pound dividend to shareholders
Cairo: Egypt's benchmark EGX30 Index rose for the sixth day, the longest winning streak since February, advancing 0.9 per cent to 7,515.06 at the close in Cairo.
EFG-Hermes Holding rose to the highest close since September 2008, adding 1.6 per cent to 34.46 Egyptian pounds (Dh22.83). The largest publicly traded investment bank in Egypt will pay a 1 pound dividend to shareholders.
Orascom Telecom Holding rose to the highest level since November 10, jumping 5.1 per cent to 7.24 pounds.
OT, the largest Arab mobile firm by subscribers, rose after it said on Sunday it paid the final instalment of a tax bill it disputes with Algerian authorities. "Retailers are shifting positions from small and mid caps into OT," said Karim Hosny of Pharos Securities, citing speculation around Djezzy as the reason.
