EGYPT MARKETS
SOURCE: AP TELEVISION
RESTRICTIONS: MIDDLE EAST EXTRA CLIENTS ONLY
LENGTH: 2:15
AP Television
Cairo, Egypt - 22 January 2015
1. Pan down wide interior of the stock exchange
2. Wide of ticker screens
3. Mid of ticker screen
4. Close of screen
5. Wide of dealers working
7. Close of dealers working
6. Mid of dealer Hanan Ramses (left) and others working
8. SOUNDBITE (Arabic) Hanan Ramses, Dealer:
"In regards to the session at the end of the week, there was a rise in the benchmark index, of more than one percent at the beginning of the session, the index reached 9,900 points, and this is a record breaking number, which we haven't reached since 2009. There are predictions that the index will rise even more."
9. Wide of dealers working
10. SOUNDBITE (Arabic) Hanan Ramses, Dealer:
"Today there is a high density of buying from financial institutions and sales from individuals, there is also attraction for purchase from the Arab and foreign investors, as opposed to sales from Egyptians."
11. Close of dealer working
12. SOUNDBITE (Arabic) Hanan Ramses, Dealer:
"We attribute the rise in the markets to the presence of the president at the forum in Davos, Switzerland. Of course, in this forum the president will present the Egyptian vision in terms of investment, as well as promote the conference in March (Egypt will host a major development conference in Sharm El Sheikh). He is discussing two important things: the first is investment in Egypt and the second is defeating extremism and terrorism."
AP Television
Davos, Switzerland - 22 January 2015
13. Wide of Egyptian President Abdel-Fattah el-Sissi on podium at World Economic Forum
14. Cutaway of audience
15. SOUNDBITE: (Arabic) Abdel-Fattah el-Sissi, Egypt's President:
"We also need to work seriously and continuously to meet the demands of the two Egyptian revolutions within a framework of a comprehensive, sustainable and developmental vision for a socio-economic modernisation, that aims at opening new horizons and guarantees the rights of Egyptians to employment and decent life through the full utilisation of enormous capacity of the Egyptian economy and its diverse resources, in particular its human resources."
16. Wide of Sissi at end of speech
LEADIN:
Egypt's benchmark EGX30 index has reached a record high on the week's last day of trading.
It climbed to 9,975 points as the country's president visits the World Economic Forum in Davos.
STORYLINE:
Egypt's financial markets have reached a record high.
The EGX 30 index opened at 9,856 points today and hit 9,975 points within the first hour of trading.
Hanan Ramses, a dealer at the Egyptian Stock Exchange, does not think the market has peaked.
"The index reached 9,900 points, and this is a record breaking number which we haven't reached since 2009. There are predictions that the index will rise even more," she says.
The market closed at 9,898.
Ramses says the activity has been fuelled by "a high density of buying from financial institutions and sales from individuals" as well as purchases from Arab and foreign investors, rather than sales from Egyptians.
The record high comes as Egyptian President Abdel Fattah El Sissi attends the World Economic Forum in Davos.
"We attribute the rise in the markets to the presence of the president at the forum," says Ramses.
Sissi has addressed delegates in Davos.
He used his speech to tackle the issue of global extremism.
But the president has also highlighted Egypt's aims for economic growth, saying the post-revolution country needs a "comprehensive, sustainable and developmental vision for a socio-economic modernisation."
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