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5 percent increase in MobiNil shares in the stock market
Egypt, Business, 2/23/1999
The price per share of the Egyptian company for mobile phone services, MobiNil, rose 5% in the Egyptian stock market's transactions yesterday.
The market witnessed an increased demand for the shares in spite of the company's declaration of losses of 144 million pounds during the last five months.
Egyptian financial market experts attributed this increase to investors' belief that the company will achieve high profits in the long run.
The volume reached in the beginning of the exchange session yesterday reached nearly 150,000 shares, as the price of the share jumped 5%.
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