Cairo & Alexandria Stock Exchanges News

Cairo & Alexandria Stock Exchanges (CASE) 30 Index broke a record level on 23/1/2005, surpassing the 3000 points for the first time since its inception with an increase of 50 percent from September 12, 2004, the date where the index exceeded 2000 points.

CASE 30 index closed at 3014.6 points recording an increase of 120.27 points (4.15 percent) over Tuesday 18/1/2005 closing price.

It's worth mentioning that CASE 30 out-performance came during Christmas time, New Year and Eid El Adha, which reflects the investors' positive sentiment towards the latest reform measures, in addition to the foreign exchange stabilization and the appreciation of the Egyptian pound, which impacted well on the market.

Likewise, the market capitalization soared to LE 250 billions with an increase of 7 percent from the end of 2004 and 46 percent from the end of 2003, despite the decrease in the listed companies from 978 companies in 31/12/2003 to 795 companies in 31/12/2004.

Value traded recorded LE 231 million in that day, 35% of which owed to foreigners.