DUBAI: Egypt’s measure lifted from a three-week low yesterday as foreign investors hunted for bargains, while other regional markets also gained. Shares in heavyweight Orascom Construction Industries rose 0.4 percent to 266 pounds as concerns of delays on a buyout deal by its Dutch subsidiary proved short-lived. Cairo’s index climbed 0.3 percent.
In Abu Dhabi, the bourse added 0.4 percent. Heavyweights helped lift the market as strong earnings fuelled positive sentiment towards local equities. First Gulf Bank rose 1.1 percent. Etisalat advanced 1 percent to its highest close since October 2011. Etisalat is only open for trading by UAE nationals. The index closed at 3,022 points, its highest level since October 2009 and up 3 percent this week.
Dubai’s measure ended flat at 1,923 points. In Oman, the bourse climbed 0.4 percent to a 10-month high.
HIGHLIGHTS
EGYPT: The index advanced 0.3 percent to 5,627 points.
ABU DHABI: The index gained 0.4 percent to 3,022 points.
DUBAI: The index ticked up 0.01 percent to 1,923 points.
QATAR: The index declined 0.8 percent to 8,735 points.
OMAN: The index gained 0.4 percent to 5,980 points.
KUWAIT: The index edged up 0.07 percent to 6,409 points.
BAHRAIN: The index eased 0.02 percent to 1,103 points.
Reuters
