EGX comes out on top in January, beating MSCI EM and MSCI FM indices

Egypt was the top-performing MENA market in January, beating the MSCI EM and MSCI FM indices, Shuaa Securities say in their monthly briefing. The EGX 30 gained 10% in USD terms, beating Saudi Arabia and the MSCI EM which both rose 9%. Telecoms led the charge, rebounding from being the worst-performing sector in 2018 to gaining 16% over the month. The travel and leisure sector meanwhile continued its 2018 successes, rising 11%.