Egyptian stocks suffer on rail crash
Egyptian stocks on Tuesday were adversely impacted by Monday night's rail disaster in which 19 passengers were killed and more than 120 injured.
The main EGX30 index fell 1.4 per cent to 5,657 points in a trading session that saw LE406.8 million in total turnover.
Local investors were considerably affected by news of the rail accident, ending the day as net sellers at some LE33.1 million. Foreign investors, for their part, continued as net purchasers to the tune of LE22.7 million.
The broader EGX70 index, meanwhile, tumbled by 2.5 per cent.
All blue-chip shares suffered losses on Tuesday, with the sole exception of Oriental Weavers, which rose by 0.8 per cent.
Commercial International Bank and Orascom Construction Industries both dropped by 0.6 per cent per each.
Property shares fared no better, with the Talaat Mostafa Group falling by 4.6 per cent and Palm Hills and SODIC declining by 3.8 and 3 per cent.
Prominent stocks Orascom Telecom and Ezz Steel also slumped by 2 and 3.4 per cent respectively.
- How Saudi's health insurance market may hold the key to the industry's future
- GCC economic growth looks promising for the future, report says
- Saudi SMEs v overseas enterprises. Who is the winner?
- Why does inflation continue to rise in the UAE?
- With Sisi likely to take over, how will Egypt's 'military economy' look like?