20000228

Egyptian shares rise as large cap issues rebound

CAIRO: Egypt's benchmark Hermes Share Index jumped over two percent in early trade on Sunday as leading shares rebounded and as investors reacted positively to a rule change applying to bids for Amriyah Cement.

Half an hour after the open, the Hermes Index stood 312.8 points, or 2.5 percent higher, at 12,808.7.

Mobile phone operator Egyptian Company for Mobile Services (MobiNil) EMOB, heavily weighted in the index, was up the maximum five percent allowed per session, at 162.40 pounds.-Reuters