The Egyptian Exchange (EGX) ended Wednesday’s trading on a mixed note, as the blue-chip index EGX30 resumed gains, rising by 0.7%.
EGX30 gains were driven by the Commercial International Bank (CIB) shares increasing 0.9%, amid local purchases, and Arab and foreign selloffs.
On the other hand, the EGX70 EWI inched down 0.13%, whilst the broader EGX100 EWI rose by 0.12%, and EGX50 EWI advanced 0.28% to 1,850 points.
The market capitalisation increased by EGP 1.28bn to record EGP 608.46bn, a 4-month high. Egyptian investors were net buyers with EGP 30.7m, while Arab and foreign investors were net sellers with EGP 26.2m and EGP 4.5m, respectively. EGX turnover recorded EGP 1.6bn through the trading of 593.8m shares through 52,600 transactions.
European stocks declined on Wednesday triggered by investor fears of a surge in coronavirus cases that has threatened to undermine economic recoveries across the world. For the second day in a row in Europe, equities declined as the region-wide Stoxx 600 and London’s FTSE 100 fell 0.6% during afternoon trading.
Meanwhile, in the Asia-Pacific region, Japan’s Topix index dropped 0.9%, while Australia’s S&P/ASX 200 declined by 1.5%, and South Korea’s Kospi inched down 0.2%.