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Egypt’s stocks edge down on Tuesday, Egyptians net sellers

Ahram Online , Tuesday 14 Jun 2016
Egypt
Egypt's stocks (Reuters)
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Egypt's main index EGX30 inched down 0.98 percent to 7,570 points on Tuesday as daily stock turnover registered EGP 428 million.

Egyptian investors were net sellers to the tune of EGP 43 million while non-Arab foreign investors were net buyers to the tune of EGP 46 million.

Blue chips Commercial International Bank (CIB), Ezz Steel and cable manufacturer ElSwedy Electric were the only gainers in the main index on Tuesday.

CIB rose 0.23 percent to EGP 42.8, Ezz steel gained 1.23 percent to EGP 8.15 and ElSwedy inched up 0.05 percent to EGP 43.03 a share.

Edita Food Industries saw the sharpest decline in the main index, dipping 7.69 percent to EGP15.25 per share.

Madinet Nasr Housing also fell 3.45 percent to EGP 14.4 per share.

Other leading real estate developers, including Talaat Moustafa Group and Palm Hills also fell, declining by 1.01 percent to EGP 5.86 per share and 1.9 percent to EGP 2.55 respectively.

Orascom Telecom for Media and Technology fell 3.13 percent to EGP 0.62 a share.

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