Egypt's EGX 30 stock market index has continued its gradual climb, rising 0.7 percent to settle at 6701.18 points by the middle of Wednesday's trading session. Total daily transactions stood at 57.18 million shares valued at a total of LE427.2 million. Meanwhile, participants at the "Egypt Capital Market Day," held in London on Monday and Tuesday, expressed optimism about possible investment opportunities in Egypt. According to Wael Ziada, head of Egypt research at investment house EFG-Hermes, the purpose of holding the event was to attract fresh capital to the local market, which, he said, would serve to increase liquidity and market depth. During the first session of the conference, organized by the London Stock Exchange in collaboration with EFG Hermes, Ziada said that foreign investors were aware that emerging markets represented a "key factor" in terms of future economic growth. He went on to assert that Egypt was "one of the world's most significant emerging markets"--and one that has shown particular resilience in spite of the unfolding global financial crisis. Thirteen Egyptian companies are participating in the event, including GB Auto; CIB; Ezz Steel; Orascom Construction Industries; Juhayna; Maridive and Oil Services; El Sewedy Cables; Egyptian Resorts Company; Orascom Development Holding AG; Sixth of October for Development and Investment Company (SODIC); Talaat Mostafa Group; Mobinil; Orascom Telecom Holding; and Telecom Egypt. Translated from the Arabic Edition.
