EGX 30 rises 0.79% as Elsewedy and Orascom drive headlines

The EGX 30 closed up 0.79% at 47,651.6 points on April 6, with corporate announcements setting the tone. Elsewedy Electric held talks with the Electricity Ministry on broader grid and distribution projects, according to ZAWYA, after saying on April 1 it had advanced enterprise-scale agentic AI adoption with IBM using the watsonx portfolio, according to Intelligent CIO. Orascom Construction reported a $9 billion consolidated backlog in 2025, according to ZAWYA, while Abu Qir Fertilizers approved a $5.6 million coated urea project with 400 tons-per-day capacity, ZAWYA reported. Telecom Egypt, meanwhile, denied any move to turn a data center complex into a cash-generating asset, according to Data Center Dynamics.