The Egyptian stock market started the week of October 14 on a positive note. The market continued to stabilize after losses caused by recent regional and world developments. The benchmark Hermes index closed up 86.32 points, or 1.6 percent, at 5,631.61, and the broader CIBC ended up 0.46 points, or 0.7 percent, to 66.89.
Meanwhile, recent statistics indicated that the shares traded by foreign investors on the Egyptian stock exchange amounted to EP1.89 billion (about $447 million) in August 2001, compared to EP 1.2 billion in July 2001. The number of shares traded in August 2001 was 109.6 million, against 67.3 million in July 2001 and 75.5 million in August 2000. However, traders fear that the US terror attacks and the war in Afghanistan will lead to a sharp drop in foreign investments in the Cairo bourse. (Mena Report)
© 2001 Mena Report (www.menareport.com)
