MobiNil rallies on CASE

01 November 2002

Investors at the Cairo & Alexandria Stock Exchanges (CASE) made a beeline to shares of the Egyptian Company for Mobile Services (MobiNil), after the operator announced that net profits for the third quarter had risen by almost 10 per cent year-on-year. The rally helped lift the benchmark EFG index to close the week to 23 October up 1 per cent at 2196.57 points (see page 22).

In Kuwait, the benchmark KSE index surged up 3 per cent to close on 23 October at 2075.3 points, as prospects of an imminent US attack on Iraq receded.

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