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Egypt main index ends Monday session slightly up

Profit-taking interrupted a steeper rise mid-session after the EGX30 reached 7,537 points

Ahram Online, Monday 10 Feb 2014
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Egyptian traders work on the floor of the stock market in Cairo, Egypt March 10, 2013 (Photo: AP)
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Egypt's main EGX30 index ended Monday's session up by 0.36 percent, settling at 7,488 points with foreign investors acting as net-buyers.

The index had climbed to 7,537 points during the session before dipping due to profit-taking, according to Issa Fathy, vice president of the securities division at Cairo's Chamber of Commerce.

Non-Arab foreign investors were the main net-buyers to the tune of LE17 million, followed by Arab investors at LE5.7 million, while Egyptian investors were net-sellers.

Daily turnover recorded an average of LE779 million.

Blue chip Commercial International Bank (CIB), which witnessed the second highest turnover value in the EGX30 totaling LE48.4 million, saw its share price climb 1.18 percent to close at LE33.40 per share.

Investment bank EFG-Hermes rose 0.53 percent to trade at LE11.40 a share.

In the real estate sector, Palm Hills Development Company saw its share price rise 0.63 percent to LE3.20 and TMG Holding gained 0.83 percent to trade at LE7.25, while Six of October Development & Investment (SODIC) fell 1.08 percent to close at LE23.89.

Orascom Telecom Media and Technology Holding fell 0.83 percent to close at LE1.19 per share.

Egypt's largest steel maker, Ezz Steel, which reported a net-loss of LE84.1 million for the third quarter of 2013 on Monday, saw its share price drop 0.29 percent to close at LE17.04 a share.

The broader EGX70 index dropped 0.45 percent, in a reversal of the previous week's ascending trend prompted by a mandatory stock split that made investors bearish on its stocks.

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