Egyptian shares rose on Sunday with retail-dominated trade eyeing small-cap firms including Ezz Steel Rebars, which benefited from a revised target price for the stock, traders said.
The benchmark Hermes index climbed 114 points, or 0.73 percent, to be last quoted at 15,744.74 points. The broader CIBC index was up 0.4 percent to 96.49 points.
"EFG-Hermes raised its Ezz Steel target price so the company is looking good to investors," said Delta Securities' Chahir Hessni.
An official from Egyptian financial group EFG-Hermes said the company had revised its target price to 13 pounds from five pounds based on expectations steel prices and the exchange rate between the Egyptian pound and the dollar would remain stable.
Ezz Steel, one of the day's busiest stocks, last traded up 0.42 pounds ($0.07), or 4.9 percent, at 8.98 pounds. It officially closed at the same level.
Elsewhere in the market, traders said Media Production City fell after reports in the local press that the firm was being taken to court by a foreign firm.
Financial weekly Almal reported on the front page of its July 18 edition that Swedish construction group Skanska was suing Media Production City for $102 million in a dispute over a project to build studios.
Media Production City officials were not immediately available for comment.
The firm, also among the day's most traded stocks, last traded down 2.2 percent, or 0.4 percent, at 15.91 pounds and officially closed at 15.97 pounds.
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