Egypt bourse gains EGP 2bn, main index up 1.17%

Egypt's stock indexes managed to recoup part of their severe losses incurred during Wednesday caused by Morgan Stanley Foundation's announcement that it might have to remove the EGX from its index of emerging markets due to what it called difficulties facing foreigners in obtaining the US dollar.

The market capital achieved gains worth EGP 2 billion to reach EGP 316.6 billion after it marked a two-year record-low of EGP 13.1 billion. The EGX 30 benchmark index rose 1.17 percent to close at 4,651.76 points.

The broader EGX 70 index of the leading smaller and mid cap enterprises (SME) inched up by 0.52 percent to 354.29 points. The all-embracing EGX 100 index also increased by 0.66 percent to close at 627.31 points.