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Egypt's stocks hit 3-month low on Monday amid local, foreign sales

Ahram Online , Monday 20 Jun 2016
Egypt
Egyptian Stock Exchange in Cairo (File photo: Reuters)
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Egypt’s main index for listed stocks hit its lowest level in three months on Monday in a trading session that saw non-Arab foreign and local investors as net sellers.

The market’s benchmark EGX30 dropped 1.83 percent to register 7,203 points in a session that witnessed a modest daily turnover reaching some EGP 421.3 million.

Out of 172 listed stocks, only 14 saw gains while 127 declined. The two most traded shares Ezz steel and Global Telecom plunged 3.70 percent to EGP 8.06 and 0.33 percent to EGP 3.03 respectively.

The heavyweight Commercial International Bank (CIB) dipped 1.39 percent to close at EGP 41.22 per share.

Egypt’s property developer Talaat Moustafa Group (TMG) fell 3.01 percent to EGP 5.48 per share, while the country’s leading investment bank EFG Hermes went down 1.61 percent to EGP 10.99 per share.

Broader index EGX70 up 0.16 percent.

*The official exchange rate for $1 = EGP8.78

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