CAIRO: Egypt s main index gained 0.6 percent, led by Orascom Construction Industries (OCI), which surged 5.8 percent on news the company was considering expansion in Brazil and India.
The country s top listed builder and fertilizer maker is considering bidding for Brazilian fertilizer maker Copebras and licenses to produce fertilizer in India, Chief Executive Officer Nassef Sawiris said on Monday.
Osama Murad of Arab Finance Brokerage said the company was also boosted by better than expected earnings.
OCI is leading the market not only on a local but also global basis, Murad said.
Orascom Telecom extended declines, falling 4.4 percent following a tax dispute with Algeria which wants it to pay $597 million in outstanding taxes and penalties.
The EGX30 index ended at 6,317 points.
The Egyptian stock market will be closed for four days from Nov. 26 for the Muslim holiday of Eid Al-Adha, the stock exchange said.
The exchange will re-open on Nov. 30. -Reuters
