Cairo exchange gaining grounds
On Monday, December 25, the CASE gained some ground as investors were attracted by lower prices. The telecom sector rose on low volumes with Mobinil (EMOB.CA) advancing a modest 1.77 percent and Orascom Telecom (ORTE.CA) inching up 0.76 percent to LE51.82. The cement sector fared well with Suez Cement (SUCE.CA) inching up 0.44 percent, and Helwan Cement (HELW.CA) advancing 1.0 percent to LE34.31.
The Food sector continues to surge lead by Chipsy (CFIN.CA) which has been trading limit up for more than 10 days, reaching LE9.78, and leaving more than 150,000 shares unfulfilled. Eastern Tobacco (EAST.CA) rose 4.61 percent to close at LE68.04. With an odd volume,United Bank of Egypt contributed to 31.9 percent to total volume as more than 1.4 million shares were traded. Overall, the PAMI closed up 1.86 percent at 7,823.3, and the PIPO closed up 0.46 percent at 1720.4.
Prime Securities S.A.E.