Egypt's main index down despite rising real estate shares

Ahram Online, Monday 7 Jul 2014

Gains by top real estate companies couldn't buoy Egypt's bourse on Sunday, as the main index dropped 0.12 percent

stock market
Traders work at the Egyptian stock exchange in Cairo, Aug. 18, 2013. (photo by Reuters)

Egypt's main index dropped on Monday despite rising real estate stocks.

The benchmark index EGX30 declined 0.12 percent to register 8,311 points while the EGX70 dropped 0.19 percent.

Daily listed stock turnover recorded LE556.6 million.

Arab investors were net sellers to the tune of LE6.4 million.

The real estate sector led the main index. Talaat Moustafa Group (TMG) holding climbed 0.11 percent to LE8.63 per share, Palm Hills Development (PHD) Company increased 0.73 percent to LE4.09 per share and Madinet Nasr Housing inched up 0.99 percent LE38.8 per share.

Six of October for Development and Investment Company (SODIC) was the biggest gainer, rising 3.83 percent to LE36.56 per share.

Market bellwether Commercial International Bank (CIB) inched up 0.67 percent to LE35.8 per share.

Global Telecom Holding (GTH) declined 0.19 percent to LE5.34 per share while Telecom Egypt (TE) fell 0.67 percent to LE13.4 per share.

Egyptian Financial Group-Hermes (EFG-Hermes) fell 2.79 percent to LE14.99 per share.

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