Egypt’s benchmark index gained, led by Arab Cotton Ginning on expectations the firm will pay a big dividend in the coming weeks.
"We are hearing rumors there is going to be a huge dividend payout soon," said Hashem Ghoneim from Pyramids Capital. "Since it is up today it pulled the whole sector with it."
Arab Cotton Ginning rose 8.5 percent, while textiles firm Kabo climbed 8.9 percent and Arab Polvara Spinning and Weaving gained 4.3 percent.
Traders expect the 30-company index to hit a resistance level of 6,600 points by the end of next week.
The EGX30 rose 0.5 percent to 6,526 points.
