June 7, 2009 Egyptian Stock Market Summary
The Egyptian Stock market had a mixed day with little change in the closing value of all three indexes. The EGX 30 started the trading session on Sunday making strong increases, where the value reached 6305 points at 11:00 am, then decreased during the afternoon trading to close the session at 6218.78, a 0.35% decrease for the day. Meanwhile the EGX 70 gained 2.94 points to close at 629.93 points, a 0.47% increase for the day. Finally the Dow Jones Titans 20 Index lost 4.87 points to close at 1276.34 points, a 0.38% decrease.
In other business news, ARTOC Group for Investment and Development announced it is testing the waters to invest in the United States struggling Auto Market. ARTOC has a diverse portfolio in construction, oil and gas, steel, and tourism sectors; however, what is new here is that ARTOC generally invests in emerging markets rather than established ones like the United States. ARTOC also has currently professionals in the countries of Albania, Armenia and Montenegro to explore investment opportunities in the areas of airport construction, tourism and real estate.
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