The Egyptian Exchange (EGX) recorded the highest daily rise in trading in three years since 2013. The main index EGX30 recorded growth of 6.1% reaching 9,349 points, its record high since March 2015. The rise occurred on the back of the Central Bank of Egypt’s (CBE) decision to float the Egyptian pound on Thursday.
The session witnessed remarkable activity among the banking sector shares. Stocks of the Commercial International Bank (CIB) and Crédit Agricole registered their highest-ever levels with increases of up to 10%, reaching EGP 60.67 and EGP 26.6 respectively.
On Thursday, the main stock index closed on the rise with an increase of 3.35%, following the CBE’s decision. That day, the index jumped by 8.3% in the first few minutes of trading, recording its highest level since 24 March 2015, and the highest rise among global stock markets that day.