Egypt stocks ended slightly higher on Sunday as investors looked for fresh news to rekindle a two-week rally sparked by a cabinet reshuffle, traders said.
The benchmark Hermes index was last quoted 0.3 percent higher at 15,867.87 points. The broader CIBC index was last quoted 0.5 percent higher at 97.31 points.
The stock market has rallied about eight percent since the former Egyptian cabinet resigned in the hope that new ministers would boost the economy. But that was not enough to further fuel the rally on Sunday.
"Purchase power has dried up and we've seen less foreign interest coming into the market and fewer institutional buy orders as news of the cabinet change has faded away," Mohamed Radwan of Delta Securities said.
Traders expected Vodafone Egypt shares to fall on Monday after the firm announced after the close of trading on Sunday an unexpected seven percent drop in net profit for the three months to the end of June.
Vodafone Egypt's shares last traded 0.9 percent higher at 40.00 pounds on Sunday and officially closed at 39.98 pounds.
Egyptian American Bank was one of the strongest gainers, last trading up two pounds, or 3.4 percent, at 61.00 pounds.
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