Egypt’s EGX30 hits highest level in 32 months

The EGX30 measures the performance of the largest 30 companies listed in the Egyptian capital market in terms of their liquidity and activity during the EGX transactions.

The index’s performance was driven by Fintech services provider Fawry, state-owned Eastern Company, the Commercial International Bank (CIB), Palm Hills Development, Egypt Telecom and state-owned fintech services provider e-finance.

EGX70EWI – which measures the leading small and medium enterprises – also rose on Monday by 0.15 compared to Sunday level to 2,283.24 points.

Egypt’s stock exchange has started to recover from the repercussions of the Russian-Ukrainian conflict that began in February, which caused the Egyptian economy to lose EGP 465 billion (over $19 billion).