Egypt stocks slipping in weak pre-Eid trade

Ahram Online, Tuesday 23 Oct 2012

Main index is trading down 0.6 pct mid-Tuesday as investors stake out their positions ahead of four-day national holiday

Egyptian stocks are trading in the doldrums in the penultimate trading session before the Eid Al-Ahda four-day holiday.

The benchmark EGX30 is down 0.57 per cent at 5,688 points just 90 minutes before the  close of trade, hobbled by sell offs for high-caps Orascom Construction Industries and NSGB bank.
The broader based EGX70, by contrast, is up a mild 0.47 per cent. Turnover is currently around LE190 million (approx. $31.7m).
The Egyptian market has seen limited trade over the last two days, as investors reposition themselves ahead of Eid.
The Islamic holiday starts on Thursday with the stock exchange and banks closing their doors until the following Monday.
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