Following the expectations that the Federal Reserve will
Egypt stock market boosted after Mubarak arrest
13.04.2011 by Hassan Shahin
Egyptian stock market managed to rise strongly by the end of Wednesday after four days of declines. The positive sentiment was a result of growing activity by Arab and Egyptian investors following the decision of the Egyptian Public Prosecutor this morning to arrest the former president and his two sons.
Most of the leading stocks posted strong gains. The EGX30 index which measures the performance of the most active 30 companies in the market registered an increase of 1.90% to close at 5301.47 points. The EGX70 index’s rise amounted to 3.45% to close at 605.27 points. The EGX100 index rose by 2.84% to close at 945.43 points.
During the early trading session today trading on 14 companies listed was halted for half an hour after rising to the maximum allowable rate of 5%.