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CIB decline weighs on Egypt's main index

Ezz Steel, Eastern Tobacco and ElSwedy Electric were the main biggest main index decliners on Wednesday

Ahram Online , Wednesday 6 May 2015
Egypt's stock market (Photo: Reuters)
Views: 1378
Views: 1378

Egypt's stocks made losses on Wednesday driven by blue chip Commercial International Bank (CIB), amid the persistence of low turnover levels.

Benchmark index, EGX30, fell 0.82 percent to register 8,756 points and daily stock turnover recorded LE398.6 million.

With contribution of around 6 percent to the session's trade, Arabs were net buyers to the tune of LE11.9 million.

The CIB dropped 1.51 percent to LE55.2 per share.

Ezz Steel, Eastern Tobacco and ElSwedy Electric were the biggest main index decliners falling 2.2 percent to LE12.33 per share, 1.97 percent to LE190 per share and 1.96 percent to LE48 per share.

However, real estate developer SODIC managed to rise 1.38 percent to LE11.89 per share and Juhayna Food Industries was up 1.02 percent to LE9.95 per share.


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