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Egypt bourse down Sunday amid pro-Morsi protests

Investors traded with caution with an eye on 100-day commemorative protests marking Islamist sit-in dispersals

Ahram Online, Sunday 24 Nov 2013
Egypt
Traders are seen working below the Egyptian Exchange bell at the stock exchange in Cairo (Photo: Reuters)
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Egypt’s stocks witnessed a slow start to the trading week as investors interacted apprehensively on Sunday with an eye on the Muslim Brotherhood protests marking 100 days since the dispersal of two pro-Morsi sit-ins in Cairo and Giza.

The market’s benchmark EGX70 shed 0.3 percent, recording 6,436 points, whilst the broader index EGX70 slipped 0.2 percent.

Egyptian investors were net buyers to the low total of LE691,000, while foreign investors were net sellers with some LE2.2 million.

Performance was relatively stagnant, as the daily turnover of listed securities reached LE309.8 million.

Blue-chip share Commercial International Bank (CIB) has survived, despite the collective fall, rising 0.1 percent.

Telecommunications listed giants Global Telecom (GT) and Telecom Egypt (TE) dipped 0.6 and 0.3 percent respectively.

Real estate developers Talaat Mustafa Group (TMG) and Six of October Development and Investment (SODIC) fell 0.6 percent per each, however Palm Hills Holding (PHD) decreased by 0.7 percent.

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