Egypt’s stocks inch down for third session in a row

Egypt’s stocks fell Monday for the third consecutive session as the market’s benchmark EGX30 index dropped 2.17 percent to close at 6,634 points.

Out of 168 shares listed, 22 gained and 104 shares went down in a session that witnessed a daily turnover for listed securities worth 539.5 million Egyptian pounds.

The broader EGX70 index also slipped 1.73 percent Monday.

Egyptians were net buyers to the tune of 78.5 million pounds, with individuals making up around 70 percent of total investors during the day.

Heavyweight Commercial International Bank (CIB) plunged 2.45 percent to 36.27 pounds per share.

Real estate developer Talaat Moustafa Group (TMG) shed 4.58 percent to close at a price of 6.04 pounds per share, while Orascom Telecom Media and Technology (OTMT) dipped 2.99 percent to register 0.65 pounds per share.

Orascom Construction Limited (OC) was up 0.60 percent to register 63.42 pounds per share. GB Auto also gained 2.18 percent to close at 3.28 pounds per share.

Source: Ahram Online