Bloom Securities CEO Mohamed Fathallah said the Egyptian Stock Exchange Index rose as a first point to the 12,000-point level at the start of quest’year, in a state of optimism about performance.
Fathallah added in an interview with Al-Arabiya that at the end of 2019 the level of the Egyptian stock market index was 13961 points, then it dropped to the level of 10800 points, and then rose again.
He pointed out that most markets exceeded pre-Crown levels, with the exception of the Egyptian market, despite existing changes and economic improvement. in Egypt.
Fathallah continued: “The economic improvement should have been in the interest of the stock market, but it didn’t happen. On the other hand, we find that Goldman Sachs is betting on Egyptian stocks in the next period.”
He believes that the return of foreigners requires several things, including increasing market capital through new subscriptions, or subscriptions to listed companies, which increase the volume of free trading on the market.
Fathallah expected these measures to reflect positively on market performance, adding: “Egypt aims to offer part of the administrative capital company. in bag, so it must be well prepared for a tale step”.
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