EGX Rebounds Sharply as Bank IPO Faces Pricing Test

Egypt’s stock market recovered from a steep intraday decline on October 19, with the EGX30 finishing 0.40% higher at 51,098.83. The recovery added back EGP70.6 billion in market value, while foreign investors shifted to net buying after the previous day’s heavy losses. For Egyptians and diaspora investors following the market, the session offered a positive sign of renewed buying interest, though it followed considerable volatility.

Summary written by SeeCave. The full story belongs to the original publisher.