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.
- DP World’s profits soared by 41 percent in H1. What’s their secret?
- Kingdom’s SMEs hold stronger outlook for Q3
- Jordan's King Abdullah has a 10-year plan for the country's economy
- Dubai's economy could have an optimistic future with a 5.6 percent growth this year
- Ups and downs: Jordan's public debt is up and ratio to GDP is down