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Egypt's stocks close down in first trading of the week

Ahram Online , Sunday 24 Apr 2016
Egyptian stock exchange
A trader works at the Egyptian stock exchange in Cairo November 19, 2014 (Reuters)
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Egypt’s stocks closed down on Sunday amid a weak trading volume, with local investors as the only net sellers.

The market’s benchmark EGX30 slipped 0.49 percent to register 7,743 points in a session that saw modest daily turnover for listed securities reaching some EGP 364.7 million.

Out of 164 stocks listed for the day, 47 saw gains while 84 saw losses.

The price of Commercial International Bank (CIB) and Orascom Telecom Media and Technology (OTMT) shares remained unchanged since last closure at EGP 42.92 and EGP 0.75, respectively.

The two shares were the biggest gainers within the main index on Thursday after an Egyptian court overturned a previous ruling delaying the acquisition of CIB's investment banking arm, CI Capital, by OTMT’s subsidiary Beltone Financial.

The blue chip real estate developer Talaat Moustafa Group (TMG) was down 0.15 percent to be sold at EGP 6.66 per share.

Global Telecom, the most traded for the day, declined 3.48 percent to close at EGP 3.05 per share.

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