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Article: News in brief.
- Article from:
- Daily News Egypt (Egypt)
- Article date:
- October 11, 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 stocks rise on foreign buying, OT up
Egypt's main stock index rose 1.5 percent to recoup losses made over the past week, with regional mobile operator Orascom Telecom gaining 5.2 percent on foreign interest in the stock.
"Orascom Telecom has been grabbing attention since last week. Foreigners are going in and piling up stock," said Mohamed Radwan, head of foreign sales at Pharos Holding, adding that OT's annual analyst meeting would be held in Paris on Monday.
Egyptian Resorts was up 0.4 percent after it said on Sunday it had raised $1.2 million from the sale of treasury shares, boosting revenues in a year of weak land sales.
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