Egypt’s Stock Index Climbs to Highest Since 2011 as Israel Falls - Bloomberg

Egypt’s Stock Index Climbs to Highest Since 2011 as Israel Falls - Bloomberg:

"Egypt’s benchmark stock index climbed to the highest level since before the ouster of Hosni Mubarak in early 2011 on speculation political stability will spur economic growth. Israeli stocks snapped a five-day advance.
The EGX 30 Index rose 0.9 percent to 5,986.8, the highest close since Jan. 26, 2011, as about 468 million Egyptian pounds ($68 million) of shares traded, compared with a one-year daily average of 340 million pounds. Orascom Telecom Media & Technology Holding SAE jumped the most in a month, while Commercial International Bank Egypt SAE contributed the most to the index’s gain. Israel’s TA-25 Index fell 0.6 percent.
The gauge has rallied 26 percent in the second half of the year after the military ousted President Mohamed Mursi. The bourse closed for almost two months in 2011 as a popular uprising forced Mubarak out of power. The current government is overseeing constitutional amendments that should lead to parliamentary elections in the first quarter of 2014. The economy may grow 2.1 percent this year and 2.9 percent in 2014, according to the median of 16 estimates in a Bloomberg survey."

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