CAIRO — Egypt's stocks ended the year 2012 on a positive note, bolstering its impressive 2012 rally and putting it in third place globally in terms of percent earnings. Egypt's benchmark EGX30 index rose by 0.37 percent to 5, 462 points by the end of Monday's session. The broader-based EGX70, meanwhile, suffered a minor decline of 0.43 percent. Egyptians were net sellers for the day as they offloaded a total LE31 million worth of shares, while Arab and foreign investors were net buyers picking up almost LE9 million and LE21 million respectively. The telecom sector led the market in terms of turnover reflecting a total gain of LE82 million, as heavyweight Orascom Telecom Holding (OTH) rose by a healthy 2.32 per cent although landline monopoly, Egypt Telecom, tumbled by 1.05 per cent. Blue-chips Orascom Construction Industries (OCI), Commercial International Bank (CIB), Talaat Mostafa Group Holding (TMGH) and Orascom Telecom Holding (OTH) were the main market leaders for the year 2012. Their market shares are expected to continue to grow. Main EGX30 index closed the year at 5,462 points, up 50.8 points from the 2011 close. Despite such a notable performance, the index remains well below the pre-uprising level of 6,723 points. — Agencies
