CAIRO: Egypt’s main index inched up, helped by Orascom Telecom, which has gained 6.5 percent since Algerian ministers said in parliament on Thursday talks would soon begin with the Egyptian company over its Algeria unit.
Orascom gained 2.2 percent. Algeria is waiting until experts complete a valuation of Orascom’s Djezzy unit, which the Algerian state is planning to buy after having prevented Orascom from selling it to other investors.
Pioneers Holding climbed 3.6 percent, while Talaat Moustafa dropped 2.6 percent and EFG-Hermes shed 1.6 percent.
Traders said they expect the market to advance over the next few days.
"I’m a bit optimistic," said Karim Hosny of Pharos Securities.
The index added 0.1 percent to 6,116 points.