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Egypt stock index ends lower, Egyptian Resorts leads - Daily News Egypt

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Egypt stock index ends lower, Egyptian Resorts leads

CAIRO: Egypt’s index extended its downward trend, sliding 1.04 percent, led by Egyptian Resorts, which tumbled 8.3 percent. Traders expect the index to rebound next week as cheap stocks whet investors’ appetite. "Stocks are very cheap at these levels and investors are bound to jump in and make use of blue chips that are trading …


CAIRO: Egypt’s index extended its downward trend, sliding 1.04 percent, led by Egyptian Resorts, which tumbled 8.3 percent.

Traders expect the index to rebound next week as cheap stocks whet investors’ appetite.
"Stocks are very cheap at these levels and investors are bound to jump in and make use of blue chips that are trading at extreme discounts," Hashem Ghoneim from Pyramids Capital said. "Next week we should see a rebound."

Orascom Telecom shed 2.7 percent by the day’s close.

Talaat Moustafa fell 4.2 percent.

Commercial International Bank slipped 2.6 percent and EFG Hermes Holdings fell 4.9 percent.

Egypt’s index closed at 6,422 points, its lowest since March 16.

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https://www.dailynewsegypt.com/2010/05/20/egypt-stock-index-ends-lower-egyptian-resorts-leads/
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