Stock market up 1.6%

The Egyptian stock exchange’s EGX 30 index rose by 1.6 percent on Tuesday, gaining 107.9 points to close at 6833.2 in a day that saw a total of LE1.6 billion worth of transactions.

According to stock market president Maged Shawqi, companies recently suspended from trading for alleged "irregularities" constituted no more than 2 percent of the firms listed on the exchange. "That’s why daily transactions were barely affected," he explained.

"We’ve suspended a total of 21 companies," Shawqi added. "But they can all come back to the exchange if they improve their respective financial positions."

Translated from the Arabic Edition.

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