By: Heba El-Kordy
Cairo – Mubasher: Analysts have expressed mixed opinions on the Egyptian Exchange’s (EGX) performance this week.
The EGX is likely to rebound at 13,000 points to close the week above 13,500 points as the heavyweight Commercial International Bank (CIB) rebounded at EGP 72.5, branch manager Mubasher Financial Services (MFS) Safwat Abdel Naeem said.
The small- and mid-cap EGX70 index is expected to continue the stable trend above 680 points until the end of the month, Abdel Naeem added.
For his part, branch manager of Osool ESB Securities Brokerage Saeed El Feki projected the EGX to maintain seeing purchasing power this week as turnover is nearing EGP 1 billion, indicating heavy liquidity that could push the EGX30 index higher.
The EGX30 index is targeting 14,000 points as the prices of stocks fell, which is an attractive opportunity for investment in the short-term, El Feki added.
He expected that stocks will be active this week and the indices will hit their targets.
Translated by: Mai Ezz El-Din
