Egypt's Bourse ends 2012 as third best-performing exchange worldwide

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 per cent earnings.
The 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.

The stock market started its recovery this year after it had suffered serious blows following the January 2011 popular uprising and an overall global economic downturn.

The Egyptian exchange is the third-best performing stock market worldwide followed by Venzuela's IBC index and Turkey's XU100 index, despite analysts predicting that economic volatility and unrest could have negative repercussions on its performance.

A more than 25 per cent growth in trading volume could be counted as the year's best indicator for the exchange.

After daily turnover levels dropped below the LE300 billion in the third quarter of 2011, trading volumes have seen a solid recovery throughout the year, edging above the LE1 billion ($166 billion) mark in mid-September 2012.