Last Update 11:44
Wednesday, 13 November 2019

Egypt stocks dip amid global, regional downturn

Ahram Online , Wednesday 6 Jan 2016
Egypt
Egypt's stocks (Reuters)
Share/Bookmark
Views: 942
Share/Bookmark
Views: 942

Egypt’s stocks plunged on Wednesday amid a downturn in global and regional markets.

Benchmark index EGX30 declined 1.41 percent to 6,922 points with daily stock turnover at LE425 million.

Regional markets took a dip after oil prices hit their lowest since early July 2004 with brent crude falling to $35.07 a barrel.

The Saudi main index fell 3 percent this session, its lowest in more than 3 years, and Dubai inched down 0.2 percent.

Arab and other foreign investors were net sellers in the Egyptian bourse with around LE37 million.

Blue chip, Commercial International Bank (CIB) plunged 2.36 percent to LE37.9 per share, and Palm Hills for Development, a leading real estate developer, dipped 3.28 percent to LE2.37 per share.

Orascom Telecom for Media and Technology (OTMT) fell 1.45 percent to LE0.68 per share and investment bank EFG-Hermes dropped 0.94 percent to LE8.45 a share.

The Egyptian bourse will be closed on Thursday in celebration of the Egyptian Coptic Christmas, extending the weekend by one day. Trade will resume on Sunday.

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.