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A rise for Egypt’s markets

(29 Oct 2015) LEAD IN:
Egypt’s markets are currently up 0.47 percent (1155 GMT) today on 7515 points.
This week saw a high of 7,600 points, traders hope to match it again soon.
STORY-LINE:
Opening the day on 7479 points.
Egypt’s markets rose well in the morning to a peak of 7546 at 0900 GMT.
It’s gradually dropped-off during trading, but is still holding at 7515 points (1155 GMT).
It’s a current rise of 0.47 percent on opening.
“On the week’s last session, the markets have raised about 0.63 percent, the benchmark index EGX 30, has reached 7,526 points, institutional, Egyptian and foreign investors are buying, the foreign investors were selling at the start of the session, but towards the middle of the session they have began to buy,” says dealer Hanan Ramses speaking earlier in the day.
This week the markets hit 7,600 points, but have dropped slightly since.
Ramses says she expects stocks to climb again.
“The market came down from 7,600 throughout the week, so we can expect it to return to this level, but we need a higher trading volume, which so far is high sometimes and low at other times.”

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