CAIRO: Egypt s main stock index climbs 2.6 percent on the strength of a global rally, as Asec Mining and EFG-Hermes see robust gains and Orascom Telecom rises 5.7 percent.
When market sentiment picks up, EFG will be one of the first to be affected, as it s a brokerage-based investment house, CIBC s senior equity sales trader Ashraf Akhnoukh says. EFG-Hermes closes up 3.1 percent.
Higher global gold prices are fuelling interest in Asec Mining, which closes up 7.2 percent, he says.
A global rally following a rise in US futures is improving investor sentiment on Egyptian telecoms and banks, Pharos Securities international sales director Mohamed Radwan says.
The markets are seeing a purchase euphoria across the board, he says.
The EGX30 ends at 6,991 points, just off a year high of 7,036 set in September. -Reuters
