|
|
Article: Weekly Stock Review: Market makes early gains, ends in the red.
- Article from:
- Daily News Egypt (Egypt)
- Article date:
- November 7, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
CAIRO: Egypt's bourse kicked off the week with gains, posting four days of green trading. Investors had bought up shares since the start of the week on Sunday in anticipation of the outcome of the US elections -- boosting the market -- and took profits on the first day after Democrat Barack Obama won the White House.
Overall, Egypt's benchmark CASE 30 index leapfrogged, gaining 11.17 percent to end the week at 5,243.20 points.
The index mirrored European markets and rallied Sunday 5.85 percent to 4,992.25 points, as local retail investors grabbed bargains across the board.
Still, trading turnover was relatively low at LE 651.2 million ($116.3 ...