Egypt stocks down Sunday as listed banks see losses

Ahram Online , Sunday 22 May 2016

Egyptian stock market
An interior view of the Egyptian stock market is seen in Cairo (Photo: Reuters)

Egypt’s stocks fell on Sunday as the banking sector went down in a trading session that saw Arab and foreign investors as net sellers.

The market’s benchmark EGX30 inched down 0.0.06 percent to register 7,494 points in a session that saw modest daily turnover worth some EGP 379.2 million.

The decline came despite 70 shares seeing gains during the trading, while only 44 faced losses out of 165 stocks listed.

The biggest cap listed Commercial International Bank (CIB), which was most traded for the day, dropped 0.85 percent to close at EGP 43.30 per share.

Another listed private lender, Credit Agricole Egypt (CAE), slipped 0.04 percent to close at EGP 23 per share.

Egypt’s leading property developer Talaat Moustafa Group (TMG) was down 0.17 percent to register EGP 6.02 per share

Investment bank EFG Hermes was up 0.57 percent to be traded at EGP 10.56 per share.

Orascom Telecom Media and Technology (OTMT) rose 1.37 percent to EGP 0.74 per share

Broader index EGX70 rose 2.05 percent.

*The official exchange rate for $1 = EGP 8.78

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