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Sunday, 08 December 2019

Egypt's stocks continue falling on Sunday

Ahram Online , Sunday 10 Jan 2016
Egyptian stock exchange in Cairo
Traders work at the Egyptian stock exchange in Cairo, Egypt in this August 23, 2015 (Reuters)
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Egypt’s stocks declined in Sunday’s trading to continue its downturn from last week amid tumbling regional and global bourses, coinciding with the first convention of the country’s parliament after a three-year hiatus.

The main index EGX30 was down 2.03 percent to register 6,782 points in a session that saw a modest daily turnover for listed securities worth LE320.8 million.

Egyptian investors were the only net-buyer during the session to the tune of LE11.4 million.

Regional markets remained down after oil prices hit their lowest since 2004 last week, given the brent crude price falling to $35.07 per barrel.

Saudi index TASI slipped 2.16 percent, while the Dubai index inched down 0.09 percent.

Out of 160 listed stocks, 26 saw gains and 102 saw losses led by the heavyweight Commercial International Bank (CIB), which dipped 2.24 percent to close at LE37.18 per share.

The bluechip real estate developer Talaat Moustafa Group (TMG) plunged 2.31 percent to register LE6.33 per share.

Telecommunication share Orascom Telecom Media and Technology (OTMT) was down 1.47 percent to close at LE0.67 per share.

Cairo-based listed investment bank Beltone Financial Holding rose 4.01 percent to be sold at LE3.89 per share.

The broader index EGX70 shed 0.97 percent.

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