EGX rebounds on presidential election

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Mon, 26 Mar 2018 - 09:58 GMT

BY

Mon, 26 Mar 2018 - 09:58 GMT

FILE- Employees in the EGX following performance of the trading session

FILE- Employees in the EGX following performance of the trading session

CAIRO – 26 March 2018: The Egyptian Exchange (EGX) indices began Monday; the first day of the Egyptian presidential election, in green with a collective height.

The Benchmark EGX30 rose 0.91 percent and the equally weighted index EGX50 jumped up 1.14 percent.

The small and mid-cap index EGX70 increased 0.47 percent, and the broader index EGX100 leveled up 0.44 percent.

The presidential election kicked off on Monday March 26 and continues until March 28, in a race pitting incumbent President Abdel Fatah al Sisi against El Ghad party chairperson Moussa Moustafa Moussa.

The 2018 presidential election is the third poll to take place in Egypt since the January 2011 revolution. Egyptian expatriates voted on March 16-18 in 124 countries.

EGX decreased for the last two consecutive sessions; the indices ended Sunday in red as EGX30 declined 0.47 percent, EGX50 decreased 0.39 percent, EGX70 slipped 0.51 percent and EGX100 edged down 1 percent.

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