Egypt stocks gain EGP 6bn in first quarter

Egypt’s stock market indices showed mixed performance while equities gained around EGP 6.2 billion ($810.2 million) in capitalization during the first quarter of 2015.
The benchmark index EGX30 rose 2.3% or 208.2 points to close the quarter at 9135 points, compared with 8926.58 points at the end of 2014.
Trading activity during the first quarter was relatively positive, as the benchmark ended in the green zone, said Sameh Gharib, head of technical research, Roots Stock Brokerage House.
The small and mid-cap index EGX70 fell by 8.5% or 47.82 points to end at 518 points, from 565.43 points at 2014-end.
The broader index EGX100 also lost 4.1% or 44.83 points to 1045.63, from 1090.46 points.
EGX70 is seeing correction within sideways movement, which started in September, and is expected to shoot above such a range during the next quarter, according to the analyst.