Egypt’s bourse witnessed a modest recovery on Tuesday with the main index EGX30 jumping 2.75 percent to 6,836 points, a day after the market suffered its biggest drop since December 2013, sinking 1.9 percent to 6,654 points.
According to economists and analysts, the Egyptian market is slightly rebounding in parallel with a recovering Saudi market –which dropped by 5.9 per cent on Monday– as more stable oil prices and Asian bourses motivated some investors to buy back shares.
Saudi stocks went up by 0.8 percent in the opening minutes of Tuesday trading.
Market bellwether Commercial International Bank (CIB) gained 3.86 percent to LE48.2 per share.
The biggest gains were garnered by Global Telecom Holding, rising 6.91 percent to LE2.06 per share.
(Source: MENA from Cairo)