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Article: News in Brief.
- Article from:
- Daily News Egypt (Egypt)
- Article date:
- July 21, 2009
CopyrightCOPYRIGHT 2009 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)
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Egypt index up as OT extends gains
Egypt's main stock index climbs 1.9 percent to 5,950 points, buoyed by gains in Orascom Telecom after chairman Naguib Sawiris expressed interest in investing in France through Weather Investments.
Shares in OT rise 0.8 percent, extending Monday's gains after Sawiris told a French newspaper he would be prepared to team up with candidates for a fourth domestic 3G mobile phone license in France.
Traders said such a deal would have little direct impact on OT, in which Italy's Weather holds a controlling stake. "Still, it did affect OT (shares). It is quite positive on Sawiris and how people see his investments," ...