Cairo’s stock exchange dips lower
On Tuesday, December 20, Cairo’s stock market dipped in mixed trading, led lower as usual by large-cap stocks. GSM providers MobiNiL (EMOB.CA) and Orascom Telecom –OT (ORTE.CA) contributed to the downward pressure, ending 2.79 percent and 4 percent lower at LE76.18 and LE55.45, respectively.
Lakah Group (HCFI.CA) was among the top 5 losers, shedding 4.94 percent to close at LE2.50. Egyptian Media Production City (MPRC.CA) was not far behind, dropping 3.31 percent to LE18.43.
Conversely, Chipsy for Food Industries (CFIN.CA) continued to buck market trend, trading nearly limit up on a daily basis to finish at LE8.06. The company had announced last week that it was negotiating a merger or acquisition with an yet unnamed party.
Overall, the PAMI slipped 2.26 percent to 7,718.2 while the PIPO lost 0.61 percent to 1,687.9.
Prime Securities S.A.E.