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Egypt index slips, big caps lead - Daily News Egypt

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Egypt index slips, big caps lead

CARO: Egypt’s main index EGX30 succumbed to a global equities sell-off, extending its declines into a seventh session, with big caps leading. Commercial International Bank (CIB) shed 2.1 percent, and Orascom Telecom lost 2.8 percent. Orascom Construction Industries fell 1.6 percent. The firm said after the market closed that its BESIX unit had won a …


CARO: Egypt’s main index EGX30 succumbed to a global equities sell-off, extending its declines into a seventh session, with big caps leading.

Commercial International Bank (CIB) shed 2.1 percent, and Orascom Telecom lost 2.8 percent.

Orascom Construction Industries fell 1.6 percent. The firm said after the market closed that its BESIX unit had won a $750 million contract in a joint venture for work at Doha’s airport in Qatar.

Talaat Moustafa Group (TMG) fell 4.2 percent after having recouped some of its recent losses on Tuesday.

About LE 861 million ($151 million) worth of stock changed hands on the exchange, up from less than LE 650 million in Sunday’s session, according to the bourse’s website.

"Volumes are starting to creep in," said Teymour El-Derini of Naeem brokerage.

Among gainers, developer SODIC rose 2 percent, El Sewedy gained 2.8 percent, and Maridive added 0.3 percent.

The EGX30 fell 1.4 percent to 6,033 points.

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https://www.dailynewsegypt.com/2010/06/30/egypt-index-slips-big-caps-lead/
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