Last Update 18:31
Wednesday, 20 November 2019

Egypt's main index closes week down, local investors sell

Ahram Online , Thursday 9 Jun 2016
Egypt
(File photo: Reuters)
Share/Bookmark
Views: 849
Share/Bookmark
Views: 849

Egypt's main index, EGX30, shed 0.31 percent to 7,756 points with daily turnover for listed securities reaching some EGP 483 million.

Local investors were net sellers to the tune of EGP 69 million, while non-Arab foreign investors were net buyers to the tune of EGP 73 million.

Beltone Financial trades on the stock market were cancelled again by the bourse authorities, citing an article in the capital market law that authorises the exchange chairman to do so in the case of violations and trades at an "unjustified price," according to a statement on the bourse website and the text of the law on the financial regulator's website.

Plans by Beltone Financial to acquire CI Capital, the investment arm for the Commercial International Bank (CIB), failed to materialise after both parties announced on Thursday they would not renew the offer.

A subsidiary of Orascom Telecom for Media and Technology (OTMT), Beltone Financial had requested to renew its offer for the deal twice, though its parent company failed to get regulatory approvals.

OTMT’s share price dipped 1.41 percent to EGP 0.7 per share and CIB edged up 0.16 percent to EGP 44.39 a share.

Orascom Construction Limited (OC) inched up 0.5 percent to EGP 58.8 a share.

The Dubai-based company announced on Thursday decreasing its capital to $117.76 million from $118.04 million.

Real estate developer Talaat Moustafa Group (TMG) dropped 1.15 percent to EGP 5.96 per share.

Short link:

 

Latest

© 2010 Ahram Online.